ProPetro reports FY2023 revenue up 27% to $1.6B, but Q4 net loss of $17M

ProPetro Holding Corp.

2023-FY EPS reported $0.76 revenue$1,630,399,000

Full-year 2023 revenue $1.6B, net income $86M (vs $2M in 2022), adjusted EBITDA $404M (+28% YoY).
Q4 revenue $348M (down 18% QoQ); net loss $17M ($0.16/sh) vs Q3 net income $35M ($0.31/sh).
Repurchased 1.6M shares in Q4; 5.8M total (~5% of shares) retired since May 2023.
Deployed second FORCE electric fleet under contract; two more expected H1 2024; ~65% of frac capacity from electric/DGB fleets.
Acquired Par Five Energy Services for cementing in Delaware Basin during Q4.

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 fourth quarter and full year of 2023 results: revenue $348 million, net income $86 million.

Period: fourth quarter and full year of 2023
Revenue: $348 million
Net income: $86 million
Result: reported results

Exact text from the filing

in 2024. • Completed another accretive acquisition to expand our cementing services into the Delaware Basin. Fourth Quarter 2023 Results and Highlights • Revenue was $348 million compared to $424 million for the prior quarter. • Net loss of $17 million, or $0.16 per diluted share, compared to net income of $35 million, or $0.31 per diluted share, for the

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Source: SEC EDGAR

accession 0001680247-24-000034

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