ProFrac 2022 rev $2.4B (+216% YoY), net income $342.7M; Q4 rev $794M, net $116M; closes $475M acquisition

ProFrac Holding Corp.

Full year 2022 revenue $2.4B (up 216% YoY), net income $342.7M vs loss $43.5M prior year; Adj EBITDA ex-Flotek $835.5M (up ~520%).
Q4 2022 revenue $794.1M (up 14% sequential), net income $116M (down 17%); Adj EBITDA ex-Flotek $269.2M (up 2%).
Average active fleets: 36 in Q4 (31 in Q3); Q1 2023 efficiency expected slightly lower due to gas price drop and winter weather.
Closed $475M Performance Proppants acquisition in Q1 2023, funded by $320M term loan upsizing and ABL increase.
Gross debt $959.4M, cash $35.1M, liquidity $212.3M ex-Flotek at Dec 31; 2023 capex expected in line with 2022 ($356M).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ProFrac Holding Corp. reported fourth quarter ended December 31, 2022 results: revenue $794.1 million, net income $116 million, EPS $0.82 per Class A share.

Period: fourth quarter ended December 31, 2022
Revenue: $794.1 million
Net income: $116 million
EPS: $0.82 per Class A share
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Results and Recent Highlights Total revenue grew approximately 14% sequentially to $794.1 million over 2022 third quarter revenue Net income declined approximately 17% sequentially to $116 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ProFrac Holding Corp. reported full year ended December 31, 2022 results: revenue $2.4 billion, net income $342.7 million, EPS $2.06 per Class A share.

Period: full year ended December 31, 2022
Revenue: $2.4 billion
Net income: $342.7 million
EPS: $2.06 per Class A share
Result: reported results

Exact text from the filing

Full Year 2022 Results Total revenue of $2.4 billion, up 216% year-over-year Net income totaled $342.7 million compared to a net loss of ($43.5) million in the previous year

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ProFrac Holding Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-008842

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