ProFrac Q1 2025 Earnings Report
Key Takeaways
ProFrac Holding Corp. reported total revenue of $600.3 million and a net loss of $15.4 million for the first quarter of 2025. Adjusted EBITDA was $129.5 million, representing a margin of 22% of revenue, up significantly from the previous quarter. The company achieved improved operating efficiencies but noted headwinds from tariff uncertainty and OPEC+ production increases impacting the forward outlook.
Reported strong Q1 2025 results with 32% revenue and 83% Adjusted EBITDA growth over Q4 2024.
Achieved new operating efficiency records, including average pump hours per fleet, in Stimulation Services.
Proppant Production volumes ramped significantly early in the quarter, reaching highest levels since November 2023 in March.
Noted industry faces headwinds from tariff uncertainty and OPEC+ actions, pressuring commodity prices and clouding the forward outlook.
ProFrac
ProFrac
ProFrac Revenue by Segment
Forward Guidance
ProFrac anticipates a decline in active fleet count in Stimulation Services due to operators extending intervals and reducing activity. Proppant Production volumes are expected to slightly decline in Q2, partially offset by favorable sales prices and logistics. The company has identified potential capital expenditure reductions and maintains flexibility.
Positive Outlook
- Gas market dynamics remain relatively favorable.
- Continued inbounds for services expected in the gas market for H2 2025 and early 2026.
- Asset management platform and in-house capabilities enable nimble response and optimization.
- Anticipate favorable average sales prices in Proppant Production in Q2.
- Increased logistics activity expected in Proppant Production in Q2.
Challenges Ahead
- Active fleet count has declined in Stimulation Services from the recent Q1 peak.
- Operators are extending intervals between completions.
- Activity is being reduced on projects with less favorable economics in the current pricing environment.
- Outlook is clouded by tariff-induced uncertainty and OPEC+ production increases.
- Some customers are becoming more selective with oil-directed completion schedules.