Propetro Holding ( (PUMP) ) has released its Q4 earnings. Here is a breakdown of the information Propetro Holding presented to its investors.
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ProPetro Holding Corp., based in Midland, Texas, is a service provider specializing in premium completion services for North American unconventional oil and natural gas exploration and production. The company is notable for its focus on hydraulic fracturing and its new power generation business, PROPWR.
In its latest earnings report, ProPetro announced a revenue of $1.4 billion for the full year 2024, marking an 11% decrease compared to 2023. The company reported a net loss of $138 million, a stark contrast to the net income of $86 million from the previous year. Despite these setbacks, ProPetro launched its PROPWR business and completed the acquisition of Aqua Prop, LLC.
Key financial metrics include an adjusted net income of $29 million and an adjusted EBITDA of $283 million, a decrease of 30% from the prior year. The company also highlighted the repurchase and retirement of 13 million shares, which is approximately 11% of its outstanding stock. Capital expenditures were significantly reduced by 57% to $133 million, and the company generated $252 million in net cash from operating activities.
Looking ahead, ProPetro’s management remains optimistic about 2025, emphasizing their focus on fleet modernization and the growth potential of the PROPWR business. The company plans to increase its power generation capacity significantly and expects to maintain its strategic growth initiatives while managing capital efficiently.
ProPetro enters 2025 with a strong balance sheet and a disciplined approach to capital allocation, aiming to achieve further growth and value creation for its shareholders.
