ProPetro Q1 revenue $406M (+17% QoQ), net income $20M; ExxonMobil electric frac contract

ProPetro Holding Corp.

2024-Q1 EPS reported $0.18 revenue$405,843,000

Total revenue $406M, up 17% sequentially; net income $20M ($0.18 EPS) vs prior Q net loss $17M.
Adjusted EBITDA $93M (23% of rev), up 45% QoQ; capex $40M; free cash flow $41M.
Awarded multi-year ExxonMobil contract for two FORCESM electric frac fleets, option for third, plus wireline/pumpdown.
Share repurchase program increased by $100M to $200M, extended to May 2025; repurchased 3.0M shares in Q1.
Effective frac fleet utilization improved to 15.0 fleets from 12.9 in prior quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ProPetro Holding Corp. reported first quarter of 2024 results: revenue $406 million, net income $20 million ($0.18 income per diluted share), EPS $0.18 per diluted share.

Period: first quarter of 2024
Revenue: $406 million
Net income: $20 million ($0.18 income per diluted share)
EPS: $0.18 per diluted share
Result: reported results

Exact text from the filing

ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE: PUMP) today announced financial and operational results for the first quarter of 2024. First Quarter 2024 Results and Highlights • Total revenue of $406 million increased 17% compared to the prior quarter. • Net Income was $20 million ($0.18 income per diluted share) as compared to a net loss of $17 million in the prior quarter ($0.16 loss per diluted share).

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Source: SEC EDGAR

accession 0001680247-24-000072

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