Propetro Holding Corp. has reported its financial and operational results for the first quarter of 2025, demonstrating significant improvements compared to the prior quarter. Let's break down the numbers to understand the company's performance:
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Total revenue for the first quarter of 2025 reached $359 million, showing a notable 12% increase from the previous quarter's revenue of $321 million.
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Net income saw a remarkable turnaround, reaching $10 million ($0.09 income per diluted share) compared to a net loss of $17 million in the prior quarter ($0.17 loss per diluted share).
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Adjusted EBITDA surged to $73 million, marking a substantial 38% increase from the prior quarter.
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The company reported incurred capital expenditures of $39 million, reflecting its continued investment in growth and operational capabilities.
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Notably, Propetro increased its total ordered capacity of propwr℠ power generation equipment from approximately 140 megawatts to approximately 220 megawatts.
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The company's active hydraulic horsepower under long-term contracts reached approximately 50%, inclusive of two tier IV DGB dual-fuel and four Force® electric-powered hydraulic fracturing fleets.
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The share repurchase program, which began in April 2024, has seen significant traction, with the company repurchasing 13.0 million shares, representing approximately 11% of outstanding common stock.
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Propetro's liquidity position as of March 31, 2025, stood at $197 million, including cash and $134 million of available capacity under the ABL credit facility.
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Capital expenditures for the full-year 2025 are now anticipated to be between $295 million and $345 million, down 9% at the midpoint from prior guidance, showcasing the company's effective cost optimization efforts.
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Looking ahead, the company foresees operating approximately 13 to 14 active hydraulic fracturing fleets in the second quarter of 2025, influenced by recent oil price declines and disciplined asset deployment strategy.
Propetro's CEO, Sam Sledge, expressed confidence in the company's performance, emphasizing the team's dedication and the resilience of its strategy in delivering outstanding results. The company's strategic positioning, balanced with disciplined capital expenditures and differentiated offerings, sets the stage for continued value creation in the evolving market landscape.
For more detailed financial and operational insights, the company will be hosting a conference call to discuss these results further.
About Propetro Holding Corp. Propetro Holding Corp., based in Midland, Texas, provides premium completion and power services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.
Today the company's shares have moved 6.3% to a price of $5.6. Check out the company's full 8-K submission here.
