---
schema_version: "secwatch.filing_event.v1"
accession: "0001680247-23-000031"
form_type: "8-K"
ticker: "PUMP"
cik: "0001680247"
company_name: "ProPetro Holding Corp."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:12:35.005840+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ProPetro Q1 revenue jumps 21% sequentially to $424M; net income $29M

## Summary
- Net income $29M ($0.25/diluted share) vs $13M ($0.12) prior quarter; revenue $424M (+21% QoQ).
- Adjusted EBITDA $119M (28% of revenue), up 42% sequentially; margin expanded >400 bps.
- Effective frac fleet utilization 15.5 fleets; seven Tier IV DGB dual-fuel fleets operating, four electric fleets coming in 2023.
- Net operating cash flow $73M; free cash flow negative $41M due to capex on electric fleet builds.
- Plan to scrap ~140,000 HHP of Tier II diesel equipment; transitioning to lower-emission fleets.

## SEC filing metadata
- accession: 0001680247-23-000031
- form_type: 8-K
- ticker: PUMP
- cik: 0001680247
- company_name: ProPetro Holding Corp.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1680247/000168024723000031/0001680247-23-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1680247/000168024723000031/pump-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001680247-23-000031
- JSON: https://secwatch.observer/filing/0001680247-23-000031.json
- Plain text: https://secwatch.observer/filing/0001680247-23-000031.txt

## Key facts
- Earnings Releases
  ProPetro Holding Corp. reported first quarter of 2023 results: revenue $424 million, net income $29 million, or $0.25 per diluted share, EPS $0.25 per diluted share.
  - Period: first quarter of 2023
  - Revenue: $424 million
  - Net income: $29 million, or $0.25 per diluted share
  - EPS: $0.25 per diluted share
  - Result: reported results
  source text: ProPetro Reports Financial Results for the First Quarter of 2023 MIDLAND, Texas, May 3, 2023 , (Business Wire) – ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE: PUMP) today announced financial and operational results for the first quarter of 2023. First Quarter 2023 Results and Recent Highlights • Total revenue increased 21% sequentially to $424 million compared to the prior quarter. • Net income was $29 million, or $0.25 pe r diluted share, compared to net income of $13 million, or $0.12 per diluted share, in the prior quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1680247/000168024723000031/0001680247-23-000031-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.