PROPETRO HOLDING CORP (NYSE:PUMP) reported second-quarter results that showed revenue roughly in line with expectations but a wider-than-anticipated loss, sending shares lower in pre-market trading.
Revenue and Earnings Review
For the quarter ended June 30, 2026, ProPetro generated total revenue of $306 million, a 13% sequential increase from $271 million in Q1. The figure came in slightly below the analyst consensus of $310.5 million, a difference of less than 2%, making it effectively inline with expectations. The increase was driven by higher utilization in the completions business and incremental deployments in the PROPWR power generation division, partially offset by operational disruptions from an out-of-basin fleet deployment and severe weather.
On the bottom line, the company reported a net loss of $8 million, or $0.07 per diluted share. That missed the analyst estimate of a $0.0045 loss per share by a wide margin. The larger loss reflected upfront costs from standing up a twelfth fleet, unexpected downtime on a temporary deployment, and weather-related interruptions, along with higher general and administrative expenses tied to PROPWR’s growth and financing activities.
Adjusted EBITDA, a non-GAAP measure, rose 23% sequentially to $45 million, representing 15% of revenue, suggesting that the underlying operating performance was stronger than the GAAP net loss indicates.
Operational Highlights and Guidance
The company posted free cash flow from its completions business of $51 million in the quarter. Management pointed to a tightening market for frac capacity due to industry attrition, early pricing momentum, and a 10% rig count recovery in the Permian Basin from its first-quarter low. As a result, ProPetro plans to activate a thirteenth frac fleet later this quarter.
Key operational metrics and guidance adjustments:
- Completions capital expenditures for 2026 now expected at $125 million to $145 million, down from $140 million to $160 million, due to timing of planned FORCE electric fleet buyouts.
- PROPWR capital expenditure guidance unchanged at $400 million to $450 million for 2026.
- Total capacity committed under contract for PROPWR reached approximately 350 megawatts, with assets now operating at a Midwest hyperscaler data center site.
- Advanced discussions underway for several hundred additional megawatts across data center, oil and gas, and industrial markets.
- The company raised $690 million in zero-coupon convertible notes in May to fund PROPWR growth, with no dilution until the stock price reaches $29.49 after the capped call.
The full-year 2026 capital expenditure range was reduced to $525 million to $595 million, down from the prior $540 million to $610 million. Management did not provide explicit revenue guidance, but the analyst consensus for full-year 2026 sales stands at $1.233 billion, with Q3 2026 estimated at $326.9 million.
Market Reaction and Outlook
Shares were trading down about 1.6% in pre-market action, reflecting disappointment from the earnings miss and a recent downtrend—the stock has lost roughly 28% over the past month. However, the modest pre-market decline relative to the magnitude of the EPS miss suggests that the market is weighing the revenue performance and the positive commentary on completions and PROPWR momentum.
ProPetro remains a story of two growth platforms: an improving completions business benefiting from tightening supply-demand dynamics, and a rapidly scaling PROPWR division that is transitioning from a commercial pipeline to actual revenue-generating operations. The strong balance sheet, with $905 million in total liquidity and no ABL borrowings, provides a cushion as the company executes its strategy.
Investors looking to track historical earnings performance can access detailed quarterly data here. For future projections and consensus estimates, the latest analyst forecasts are available here.
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Always conduct your own research and consider your risk tolerance before making investment decisions.
Read full article here »
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ProPetro (PUMP) Q2 Revenue In Line But Wider Loss Weighs on Shares
PROPETRO HOLDING CORP (NYSE:PUMP) reported second-quarter results that showed revenue roughly in line with expectations but a wider-than-anticipated loss, sending shares lower in pre-market trading.
Revenue and Earnings Review
For the quarter ended June 30, 2026, ProPetro generated total revenue of $306 million, a 13% sequential increase from $271 million in Q1. The figure came in slightly below the analyst consensus of $310.5 million, a difference of less than 2%, making it effectively inline with expectations. The increase was driven by higher utilization in the completions business and incremental deployments in the PROPWR power generation division, partially offset by operational disruptions from an out-of-basin fleet deployment and severe weather.
On the bottom line, the company reported a net loss of $8 million, or $0.07 per diluted share. That missed the analyst estimate of a $0.0045 loss per share by a wide margin. The larger loss reflected upfront costs from standing up a twelfth fleet, unexpected downtime on a temporary deployment, and weather-related interruptions, along with higher general and administrative expenses tied to PROPWR’s growth and financing activities.
Adjusted EBITDA, a non-GAAP measure, rose 23% sequentially to $45 million, representing 15% of revenue, suggesting that the underlying operating performance was stronger than the GAAP net loss indicates.
Operational Highlights and Guidance
The company posted free cash flow from its completions business of $51 million in the quarter. Management pointed to a tightening market for frac capacity due to industry attrition, early pricing momentum, and a 10% rig count recovery in the Permian Basin from its first-quarter low. As a result, ProPetro plans to activate a thirteenth frac fleet later this quarter.
Key operational metrics and guidance adjustments:
The full-year 2026 capital expenditure range was reduced to $525 million to $595 million, down from the prior $540 million to $610 million. Management did not provide explicit revenue guidance, but the analyst consensus for full-year 2026 sales stands at $1.233 billion, with Q3 2026 estimated at $326.9 million.
Market Reaction and Outlook
Shares were trading down about 1.6% in pre-market action, reflecting disappointment from the earnings miss and a recent downtrend—the stock has lost roughly 28% over the past month. However, the modest pre-market decline relative to the magnitude of the EPS miss suggests that the market is weighing the revenue performance and the positive commentary on completions and PROPWR momentum.
ProPetro remains a story of two growth platforms: an improving completions business benefiting from tightening supply-demand dynamics, and a rapidly scaling PROPWR division that is transitioning from a commercial pipeline to actual revenue-generating operations. The strong balance sheet, with $905 million in total liquidity and no ABL borrowings, provides a cushion as the company executes its strategy.
Investors looking to track historical earnings performance can access detailed quarterly data here. For future projections and consensus estimates, the latest analyst forecasts are available here.
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Always conduct your own research and consider your risk tolerance before making investment decisions.
Read full article here »