ProFrac Q3 revenue $696.7M (+18% QoQ); net income $143.4M (+105%); closes USWS acquisition

ProFrac Holding Corp.

2022-Q3 EPS reported $1.26 revenue$1,631,554,000

Revenue of $696.7M, up 18% sequentially; net income of $143.4M ($1.09 per share).
Adjusted EBITDA (ex-Flotek) $267.2M, up 23% sequentially; annualized per fleet $34.5M on 31 active fleets.
Flotek consolidation contributed $46.9M revenue and ($11.1M) Adjusted EBITDA.
Closed U.S. Well Services acquisition on Nov 1, 2022; issued 12.9M shares and used ~$210M cash.
Full-year capex guidance raised to $330M–$350M; expects ~39 active fleets by year-end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ProFrac Holding Corp. reported third quarter ended September 30, 2022 results: revenue $696.7 million, net income $143.4 million, EPS $1.09 per Class A share.

Period: third quarter ended September 30, 2022
Revenue: $696.7 million
Net income: $143.4 million
EPS: $1.09 per Class A share
Result: reported results

Exact text from the filing

For the third quarter of 2022, consolidated revenues totaled $696.7 million, or approximately $90 million per fleet on an annualized basis. The increase was driven by higher average pricing, higher material sales, and higher activity levels achieved with our fleets. Selling, general, and administrative costs were $70.3 million, including $12.9 million of stock-based compensation, $9.7 million related to Flotek, and $5.8 million in transaction related expenses. Net income for the third quarter totaled $143.4 million, or $1.09 per Class A share.

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Source: SEC EDGAR

accession 0001564590-22-037438

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