Profrac Holding Corp. Class A (ACDC)
NASDAQ:ACDC
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ProFrac Holding
(NASDAQ:ACDC)
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Rating:49Neutral
Price Target:
$8.00
▲(34.91% Upside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak financial performance (TTM losses, deteriorated profitability, higher leverage, and reduced free-cash-flow generation). Technicals are mixed-to-neutral with some intermediate-trend support but limited momentum. The latest earnings call adds a moderate uplift due to improving guidance, cost savings progress, and pricing actions, partially offset by negative free cash flow and debt/liquidity pressures.
Positive Factors
Cost-savings progress
Delivering the bulk of a $100M run-rate savings program is a durable margin lever. Realized labor, R&M and CapEx efficiencies materially improve structural cost base, supporting sustainable adjusted EBITDA and FCF resilience even if pricing remains below cyclical peaks.
Negative Factors
Rising leverage
A materially higher debt-to-equity ratio reduces financial flexibility and increases refinancing and covenant risk if cash generation falters. Elevated leverage limits strategic optionality, raises interest burdens, and makes the company more sensitive to cyclical E&P spending shifts over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Cost-savings progress
Delivering the bulk of a $100M run-rate savings program is a durable margin lever. Realized labor, R&M and CapEx efficiencies materially improve structural cost base, supporting sustainable adjusted EBITDA and FCF resilience even if pricing remains below cyclical peaks.
Read all positive factors
ProFrac Holding (ACDC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.41B
Dividend YieldN/A
Average Volume (3M)1.26M
Price to Earnings (P/E)―
Beta (1Y)1.58
Revenue Growth-18.94%
EPS Growth-69.29%
CountryUS
Employees3,077
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)-2.66
Shares Outstanding180,920,750
10 Day Avg. Volume1,289,466
30 Day Avg. Volume1,255,224
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.79
Price to Sales (P/S)0.32
P/FCF Ratio31.78
Enterprise Value/Market Cap1.86
Enterprise Value/Revenue1.47
Enterprise Value/Gross Profit-446.05
Enterprise Value/Ebitda22.84
Forecast
1Y Price Target
$5.58Price Target Upside-5.85% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)-1.24
Revenue Forecast (FY)$1.90B
ProFrac Holding Business Overview & Revenue Model
Company Description
ProFrac Holding Corp., a vertically integrated and energy services company, provides hydraulic fracturing, completion, and other products and services to upstream oil and gas companies engaged in the exploration and production of North American un...
How the Company Makes Money
ProFrac makes money primarily by providing hydraulic fracturing (pressure pumping) services to exploration and production (E&P) companies under service contracts for well-completion operations. Revenue is generated on a per-job and/or per-time bas...
ProFrac Holding Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed an overall constructive and improving outlook: management delivered quarter results that outperformed expectations despite weather-related headwinds, reported record operational efficiency in stimulation services, and documented meaningful progress on a $100 million run-rate cost savings program. They also highlighted positive market dynamics (geopolitical-driven tightening), executed price increases for most fleets, and promoted technology differentiation (Makena, e-blenders) that could drive longer-term value. Offsetting factors include a significant QoQ profitability drop in Proppant Production, negative free cash flow, elevated debt/revolver usage, operational issues at proppant mines, and emerging input cost pressures. Management expects sequential improvement in Q2 and further gains into the back half of the year.Positive Updates
Modest Revenue Growth
Total revenue of $450 million in Q1 2026, up from $437 million in Q1 2025 (approx. +3%).
Negative Updates
Proppant Production Profitability Decline
Proppant Production revenues were $120 million (vs $115 million in Q4) but adjusted EBITDA fell to $7 million from $16 million QoQ (a decline of ~$9 million, or roughly -56% QoQ), and margins declined to 5.4% from 13.9% in Q4. Management attributed impacts to weather, operational issues, lower throughput, and reduced third-party sales mix (28% vs 39% in Q4).
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Q1-2026 Updates
Positive
Negative
Modest Revenue Growth
Total revenue of $450 million in Q1 2026, up from $437 million in Q1 2025 (approx. +3%).
Read all positive updates
Company Guidance
Management said Q2 should trend higher sequentially and indicated adjusted EBITDA in Q2 is likely to exceed Q1 by more than the ~ $9.3M weather headwind, with positive net income targeted within a couple of quarters; Q1 results were revenue $450M, adjusted EBITDA $54M (11.9% margin; pro forma ~13.6% without the $9.3M weather impact), free cash flow -$25M, Stimulation Services revenue $407M and adj. EBITDA $32M (7.8%, with ~$7.8M weather hit), Proppant Production revenue $120M and adj. EBITDA $7M (5.4%, with ~$1.5M weather hit), Manufacturing revenue $48M and adj. EBITDA $7M, and Flotek revenue $72M and adj. EBITDA $11M; they’ve achieved roughly 65–70% of a $100M run-rate savings target (labor savings at or above the midpoint of a $35–45M target, non‑labor expected $30–40M, CapEx efficiency at the high end of a $20–30M target), 2026 CapEx guidance is $155–185M (ex‑Flotek $145–175M), cash ~$34M, total liquidity ~$108M (ABL availability $80M, ABL borrowings $116M), total debt ~ $1.09B (majority due 2029), active fleets in the low‑20s with March pump hours per fleet >600 (one fleet 682), Makena claims up to 33% perforation performance uplift, e‑blenders reduced MPT ~98%, and management has implemented price increases on the majority of active fleets amid tightening equipment availability.ProFrac Holding Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
44
Neutral
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.79B | 1.94B | 2.19B | 2.63B | 2.43B | 768.40M |
| Gross Profit | -5.90M | 70.90M | 253.60M | 451.50M | 701.50M | 57.60M |
| EBITDA | 115.20M | 186.70M | 384.00M | 535.30M | 678.60M | 122.80M |
| Net Income | -432.90M | -369.00M | -215.10M | -97.70M | 91.50M | 0.00 |
Balance Sheet | ||||||
| Total Assets | 2.55B | 2.57B | 2.99B | 3.07B | 2.93B | 664.60M |
| Cash, Cash Equivalents and Short-Term Investments | 33.50M | 22.90M | 14.80M | 25.30M | 35.10M | 5.40M |
| Total Debt | 1.21B | 1.14B | 1.27B | 1.16B | 1.04B | 301.60M |
| Total Liabilities | 1.77B | 1.69B | 1.91B | 1.74B | 1.58B | 516.50M |
| Stockholders Equity | 687.40M | 786.30M | 1.01B | 1.27B | -1.18B | 147.10M |
Cash Flow | ||||||
| Free Cash Flow | 2.00M | 19.60M | 112.30M | 286.50M | 59.00M | -43.50M |
| Operating Cash Flow | 160.10M | 189.50M | 367.30M | 553.50M | 415.20M | 43.90M |
| Investing Cash Flow | -146.50M | -163.70M | -372.30M | -715.80M | -1.03B | -78.40M |
| Financing Cash Flow | 3.90M | -17.70M | -5.50M | 149.70M | 645.90M | 36.90M |
ProFrac Holding Technical Analysis
Positive
5.93
Price Trends
6.66
Positive
5.76
Positive
4.96
Positive
Market Momentum
0.28
Negative
67.69
Neutral
85.29
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACDC, the sentiment is Positive. The current price of 5.93 is below the 20-day moving average (MA) of 7.27, below the 50-day MA of 6.66, and above the 200-day MA of 4.96, indicating a bullish trend. The MACD of 0.28 indicates Negative momentum. The RSI at 67.69 is Neutral, neither overbought nor oversold. The STOCH value of 85.29 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ACDC.
ProFrac Holding Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $719.21M | 32.84 | 28.83% | ― | 24.72% | 72.35% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
62 Neutral | $1.42B | 34.44 | 2.51% | ― | 4.09% | -93.54% | |
59 Neutral | $2.21B | -115.61 | -1.43% | ― | -15.55% | 91.88% | |
58 Neutral | $1.56B | 458.19 | 1.91% | 2.94% | 27.62% | -73.36% | |
57 Neutral | $625.07M | -245.11 | 10.68% | 0.24% | 1.34% | 12.50% | |
49 Neutral | $1.41B | -3.01 | -53.92% | ― | -18.94% | -69.29% |
* Energy Sector Average
ACDC
ProFrac Holding
8.04
1.55
23.88%
CLB
Core Laboratories
13.72
2.30
20.18%
FTK
Flotek
19.90
4.50
29.22%
RES
RPC
7.16
2.63
58.20%
TTI
Tetra Technologies
10.32
7.46
260.84%
PUMP
Propetro Holding
17.89
12.16
212.22%
ProFrac Holding Corporate Events
Business Operations and StrategyPrivate Placements and Financing
ProFrac Amends Credit Facility, Extends Maturity to 2027
Neutral
Mar 9, 2026
On March 3, 2026, ProFrac Holdings II and its lending group entered into a Ninth Amendment to their existing credit agreement, reducing maximum availability on the facility to $275 million while extending the scheduled maturity by six months to Se...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.