ProFrac Holding Corp. Reports Resilient Q3 2024 Results

Profrac Holding Corp. Class A ( (ACDC) ) has released its Q3 earnings. Here is a breakdown of the information Profrac Holding Corp. Class A presented to its investors.

ProFrac Holding Corp. is a vertically integrated, technology-focused energy services company that offers hydraulic fracturing, proppant production, and related completion services primarily to the oil and natural gas industry, with a strong focus on North American unconventional resources.

In its third quarter of 2024 financial results, ProFrac Holding Corp. reported total revenue of $575.3 million, a slight decrease from the previous quarter. Despite facing a challenging market environment, the company managed to reduce its net loss to $43.5 million from $65.6 million in the second quarter, showcasing its operational resilience.

Key financial metrics highlighted in the report include an Adjusted EBITDA of $134.8 million, nearly stable from the previous quarter’s $135.6 million. The company generated a net cash flow of $98.0 million from operating activities and maintained capital expenditures at $70.0 million. The Stimulation Services segment remained the primary revenue contributor, generating $507.1 million in revenue and $112.6 million in Adjusted EBITDA.

Looking ahead, ProFrac anticipates a decline in pricing and activity within its Stimulation Services segment for the fourth quarter, yet remains optimistic about recovery in 2025. The company continues to focus on its integrated business model and cost management strategies to navigate market challenges, with a strong emphasis on deploying electric and dual-fuel technologies in its fleets.

ProFrac’s management remains committed to enhancing its operational efficiency and maintaining robust service quality, positioning the company to capitalize on potential market recoveries and technological advancements in the coming year.