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Sep 30, 2024
ProFrac Q3 2024 Earnings Report
ProFrac reported strong financial results in line with the second quarter, driven by record-setting efficiency per active fleet, despite continued activity softness.
Key Takeaways
ProFrac Holding Corp. announced its Q3 2024 results, highlighting record-setting operating efficiency and strong financial performance despite a challenging market. The company's integrated platform and focus on efficiency enabled it to deliver robust results. They anticipate a recovery in activity in 2025.
ProFrac achieved record-setting efficiency per active fleet.
The company delivered strong financial results in line with the second quarter despite market challenges.
Approximately 72% of active fleets include e-fleet or natural gas-capable equipment.
Anticipate a recovery in activity in 2025 as compared to the fourth quarter of 2024.
ProFrac
ProFrac
ProFrac Revenue by Segment
Revenue by Segment
Stimulation Services Revenue
CapyFin.comProppant Production Revenue
CapyFin.comManufacturing Revenue
CapyFin.com Forward Guidance
The Company anticipates pricing and activity to decline in the fourth quarter. They expect a recovery in activity in 2025 relative to the fourth quarter.
Positive Outlook
- Anticipate a recovery in activity in 2025 as compared to the fourth quarter of 2024.
- Continue to field new inbound requests for additional integrated fleet deployments.
- Highest demand for electric and Tier 4 dual fuel or DGB technologies.
- The Proppant Production segment started to see incremental improvement as we moved through the third quarter.
- Expect a recovery in activity in 2025 relative to the fourth quarter, with a more pronounced potential improvement in oil-levered regions.
Challenges Ahead
- Pricing and activity to decline in the fourth quarter in the Stimulation Services segment.
- Pricing and volumes in the fourth quarter will be impacted by weaker demand in the Proppant Production segment.
- Natural gas-directed activity was subdued in the Proppant Production segment.
- West Texas remains highly competitive in the Proppant Production segment.
- Capital expenditures are expected to be closer to the lower end of previously provided guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income