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Mar 31, 2024
ProFrac Q1 2024 Earnings Report
ProFrac's Q1 2024 financial results were announced, demonstrating progress on strategic initiatives with lower costs and higher profitability.
Key Takeaways
ProFrac Holding Corp. reported its Q1 2024 results, highlighting progress on strategic initiatives that began in the back half of 2023. The company's greater scale, utilization, and efficiencies are reflected in lower costs and higher profitability.
First quarter results demonstrated meaningful progress on strategic initiatives.
Greater scale, utilization, and efficiencies led to lower costs and higher profitability.
A substantial number of fleets were deployed in a disciplined manner during the first quarter.
The company anticipates steady pricing in the Stimulation Services segment and opportunities to improve profitability per fleet.
ProFrac
ProFrac
ProFrac Revenue by Segment
Revenue by Segment
Stimulation Services Revenue
CapyFin.comProppant Production Revenue
CapyFin.comManufacturing Revenue
CapyFin.comOther Business Activities Revenue
CapyFin.com Forward Guidance
The Company anticipates steady pricing in Stimulation Services and expects improved volumes and profitability in Proppant Production.
Positive Outlook
- Pricing is expected to remain steady in Stimulation Services.
- Opportunities exist to further improve profitability per fleet due to superior cost structure and operating leverage.
- Volumes are expected to improve in Proppant Production.
- Profitability is expected to improve in Proppant Production.
- Third party volumes are expected to expand alongside stimulation services segment volumes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income