secwatch.observer — SEC 8-K summary
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Issuer:     ProPetro Holding Corp. (PUMP)
CIK:        0001680247
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001680247-24-000072
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1680247/000168024724000072/0001680247-24-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1680247/000168024724000072/pump-20240501.htm
  HTML page:      https://secwatch.observer/filing/0001680247-24-000072

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