Welcome to our dedicated page for ProFrac Holding news (Ticker: ACDC), a resource for investors and traders seeking the latest updates and insights on ProFrac Holding stock.
ProFrac Holding Corp. (NASDAQ: ACDC) is a technology-driven, vertically integrated energy services company specializing in hydraulic fracturing, completion services, and proppant production. Founded in 2016, ProFrac provides essential services to upstream oil and natural gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. The company's operations span key regions including West Texas, East Texas/Louisiana, South Texas, Oklahoma, Uinta, and Appalachian.
ProFrac operates through three primary segments: Stimulation Services, Manufacturing, and Proppant Production. The Stimulation Services segment, which generates the majority of the company's revenue, operates a fleet of mobile hydraulic fracturing units and auxiliary equipment to deliver high-performance stimulation services to its clients. The Proppant Production segment focuses on producing high-quality proppants to support fracturing operations, ensuring optimal fracture conductivity. The Manufacturing segment produces and supplies essential components and equipment, serving both internal and external needs.
In recent news, ProFrac reported third quarter 2023 financial results showing total revenue of $574.2 million and adjusted EBITDA of $149.3 million. Despite a net loss of $17.9 million, the company is taking strategic steps to optimize its fleet count, reduce costs, and enhance operational efficiency. ProFrac has also issued $50 million of perpetual preferred equity securities to strengthen its financial position.
ProFrac made significant strides in the refinancing of its debt, completing transactions totaling $885 million in December 2023 to extend debt maturities and maintain liquidity. The refinancing positions ProFrac to capitalize on expected increased activity in 2024. The company also continues to advance its proppant production capabilities, marketing all eight mines in an RFP process to secure more contracted volumes and reduce mining costs per ton.
Looking ahead, ProFrac aims to increase its fleet count and improve utilization rates. The company is focused on dedicated agreements with operators under contracted terms, which is expected to bolster financial performance in 2024. ProFrac is also investing in mine improvements and fleet upgrades to ensure sustained growth and profitability.
ProFrac is committed to reducing greenhouse gas emissions and enhancing efficiency through the adoption of new technologies. This focus on sustainability and operational excellence positions ProFrac as a leader in the oilfield services industry, ready to meet the challenging demands of its clients.
For more detailed information, visit ProFrac's website at www.pfholdingscorp.com.
ProFrac Holding Corp. (NASDAQ: ACDC) has partnered with Prairie Operating Co. to deploy an electric frac fleet in Colorado. The initiative features 25 advanced 3,000 HHP single E-Pumps for fully electrified hydraulic fracturing and pump down operations. Operations will begin on Prairie's 8-well Shelduck pad in Weld County. The fleet includes electric blender units, hydration systems, and chemical additive units powered by natural gas. Power will be supplied by two Solar – SMT130 Mobile Gas Turbines, each generating 16.5 MWe ISO. This collaboration aims to reduce emissions and meet Colorado's environmental standards while enhancing operational efficiency.
ProFrac Holding Corp. (NASDAQ: ACDC) reported Q3 2024 financial results with total revenue of $575.3 million, slightly down from $579.4 million in Q2. The company posted a net loss of $43.5 million, improving from a $65.6 million loss in Q2. Adjusted EBITDA was $134.8 million, with net cash from operations at $98.0 million. The company expects pricing and activity decline in Q4 2024, but anticipates recovery in 2025. Currently, 72% of active fleets include e-fleet or natural gas-capable equipment. Total debt outstanding was $1.17 billion, with total liquidity of $109.2 million as of September 30, 2024.
ProFrac Holding Corp. (NASDAQ: ACDC) has scheduled its third quarter 2024 financial results announcement and conference call for Tuesday, November 5, 2024. The earnings release will be issued before the conference call, which begins at 11:00 a.m. Eastern / 10:00 a.m. Central. Participants can join via phone by dialing 412-902-0030 or through the company's investor relations website. A replay will be available until November 12, 2024, accessible by dialing 201-612-7415 with pass code 13749864#. The webcast archive will be available for 90 days.
ProFrac Holding Corp. (NASDAQ: ACDC) reported its Q2 2024 financial results. Total revenue was $579.4 million, slightly down from Q1. The company reported a net loss of $65.6 million, compared to a net income of $3.0 million in Q1. Adjusted EBITDA decreased to $135.6 million from $159.7 million in Q1. Despite market challenges, ProFrac achieved records for average pump hours per fleet and efficiencies. The company's free cash flow grew 187% sequentially to $74.0 million. ProFrac continues to upgrade its fleet with electric and Tier 4 dual fuel systems, with 70% of active fleets now including e-fleet or natural gas-capable equipment. The company expects pricing to remain steady in the Stimulation Services segment and anticipates a gradual recovery in the Proppant Production segment after initial declines.
ProFrac Holding Corp. (NASDAQ: ACDC) will report its second quarter 2024 financial results on Thursday, August 8, 2024, before their conference call at 11:00 a.m. Eastern / 10:00 a.m. Central.
Interested parties can access the call live via phone by dialing 862-298-0702 or through the Internet at the company's website. A replay will be available until August 15, 2024, by dialing 201-612-7415 with pass code 13748137#.
The webcast archive will be accessible for 90 days at ProFrac's IR Calendar.
ProFrac Holding Corp. (NASDAQ: ACDC) announced on May 16, 2024, that CFO Lance Turner will resign, effective June 17, 2024. Turner will remain as a consultant to ensure a smooth transition to the new CFO, Austin Harbour. Turner has been with ProFrac for two years and significantly contributed to the company's financial management and strategic direction. Austin Harbour, who brings extensive industry experience, including roles at Piper Sandler and Superior Energy Services, will succeed Turner. Harbour holds an MBA from Texas A&M University and a bachelor's degree from Texas Christian University.
ProFrac Holding Corp. reported strong first-quarter 2024 financial and operational results, with total revenue growing 19% to $581.5 million. Net income improved from a loss of $96.5 million to $3.0 million. Adjusted EBITDA increased by 46% to $159.7 million. Free cash flow grew 102% to $25.8 million. The company's outlook is positive, with steady pricing in the Stimulation Services segment and expected growth in Proppant Production volumes and profitability.
FAQ
What is the current stock price of ProFrac Holding (ACDC)?
What is the market cap of ProFrac Holding (ACDC)?
What does ProFrac Holding Corp. specialize in?
Where does ProFrac operate?
What are ProFrac's main business segments?
How did ProFrac perform in the third quarter of 2023?
What recent financial steps has ProFrac taken?
What is ProFrac’s strategy for 2024?
What technologies is ProFrac focusing on?
Who is ProFrac's target clientele?
Where can I find more information about ProFrac?
Which recent executive change occurred at ProFrac?
