ProFrac reports Q2 net loss of $65.6M; revenue flat at $579.4M; goodwill impairment of $67.7M

ProFrac Holding Corp.

2024-Q2 EPS reported -$0.42 revenue$1,160,900,000

Net loss of $65.6M (vs Q1 net income of $3.0M); adjusted EBITDA of $135.6M (down from $159.7M).
Revenue $579.4M, roughly flat from Q1 $581.5M; Stimulation Services segment revenue $505.6M, Adj EBITDA $107.3M.
Proppant Production segment recognized $67.7M goodwill impairment; volumes/pricing expected to decline further.
Free cash flow $74.0M, up 187% sequentially; net cash from ops $113.5M (+43% sequentially).
Issued $120M senior secured floating rate notes due 2029 to fund AST acquisition; total debt $1.20B.

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