secwatch.observer — SEC 8-K summary
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Issuer:     ProFrac Holding Corp. (ACDC)
CIK:        0001881487
Form:       8-K
Filed at:   2023-03-21T23:59:59+00:00
Accession:  0000950170-23-008842
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1881487/000095017023008842/0000950170-23-008842-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1881487/000095017023008842/acdc-20230321.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-008842

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer