ProFrac Q1 2023 Earnings Report
Key Takeaways
ProFrac Holding Corp. reported a 7% sequential increase in revenue to $851.7 million for Q1 2023. Net income decreased by 48% sequentially to $59.8 million. The company focused on integrating recent acquisitions and optimizing operations.
Total revenue grew approximately 7% sequentially to $851.7 million.
Net income declined approximately 48% sequentially to $59.8 million.
Adjusted EBITDA excluding Flotek declined approximately 5% sequentially to $255.0 million
First quarter results include the consolidation of Flotek results which contributed $49.2 million in revenue and a loss of ($7.9) million in Adjusted EBITDA
ProFrac
ProFrac
ProFrac Revenue by Segment
Forward Guidance
ProFrac will pursue a disciplined approach, focusing on optimizing recent transactions to maximize discretionary free cash flow and reacting to market conditions to ensure targeted rates of return and maximize shareholder returns.
Positive Outlook
- Optimizing recent transactions
- Maximizing the generation of discretionary free cash flow
- Reacting to market conditions
- Ensuring the Company's ability to earn its targeted rates of return
- Positioning the business to maximize shareholder returns
Revenue & Expenses
Visualization of income flow from segment revenue to net income