ProPetro Q2 2023 revenue $435M (+3% seq), net income $39M, repurchased 2.3M shares

ProPetro Holding Corp.

2023-Q2 EPS reported $0.59 revenue$858,819,000

Net income of $39M ($0.34 diluted), highest quarterly net income in over four years.
Revenue $435M, up 3% sequentially; adjusted EBITDA $113M (26% of revenue), down 5% sequentially.
Free cash flow ~$6M; effective frac fleet utilization increased to 15.9 fleets from 15.5.
Repurchased 2.3M shares (2% of outstanding) for $17.5M at a 27% discount to July 31 closing price.

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

ProPetro Holding Corp. reported the second quarter of 2023 results: revenue $435 million, net income $39 million, or $0.34 per diluted share, EPS $0.34 per diluted share.

Period: the second quarter of 2023
Revenue: $435 million
Net income: $39 million, or $0.34 per diluted share
EPS: $0.34 per diluted share
Result: reported results

Exact text from the filing

ProPetro Reports Financial Results for the Second Quarter of 2023 MIDLAND, Texas, August 2, 2023, (Business Wire) – ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE: PUMP) today announced financial and operational results for the second quarter of 2023. Second Quarter 2023 Results and Highlights • Total revenue increased 3% sequentially to $435 million compared to the prior quarter. • Highest quarterly net income in over four years of $39 million, or $0.34 per diluted share.

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ProPetro Holding Corp. filing history →

Source: SEC EDGAR

accession 0001680247-23-000051

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