ProFrac Q2 2022 Earnings Report
Key Takeaways
ProFrac Holding Corp. reported a significant increase in revenue, net income, and Adjusted EBITDA for Q2 2022, driven by its Acquire, Retire, Replace(TM) strategy and scaling Vertical Integration.
Total revenue grew approximately 40% sequentially to $589.8 million over 2022 first quarter revenue, on a pro forma basis for the FTSI acquisition.
Net income rose to $70.1 million, which included $38.8 million of stock compensation expense related to a deemed contribution from a related party.
Adjusted EBITDA increased over 100% sequentially to $210.6 million compared to 2022 first quarter Adjusted EBITDA, on a pro forma basis for the FTSI acquisition.
Announced pending acquisition of U.S. Well Services, Inc. in late June and expect to close the transaction in the fourth quarter of 2022.
ProFrac
ProFrac
ProFrac Revenue by Segment
Forward Guidance
The Company expects incremental improvement in third quarter results, as compared to the second quarter attributable to further bundling of materials with our pressure pumping services, continued pricing improvements, and the anticipated deployment of our first electric fleet.
Revenue & Expenses
Visualization of income flow from segment revenue to net income