ProPetro reported a strong first quarter for 2025 with significant increases in revenue and a return to profitability. The company saw increased utilization and resilient pricing across its service lines, improved Adjusted EBITDA, and generated positive free cash flow. They also expanded their PROPWR power generation equipment orders and secured new long-term service capacity agreements.
Total revenue reached $359 million, a 12% increase from the prior quarter.
Net income was $10 million ($0.09 per diluted share), a significant improvement from a net loss in the previous quarter.
Adjusted EBITDA increased by 38% to $73 million, representing 20% of revenue.
The company generated $22 million in Free Cash Flow and ended the quarter with $63 million in cash and cash equivalents.
ProPetro expects full-year 2025 capital expenditures to be between $295 million and $345 million, a reduction from prior guidance. This includes investments in the completions business and the PROPWR power generation business. Due to recent oil price declines and a disciplined asset deployment strategy, the company anticipates operating a slightly reduced number of active hydraulic fracturing fleets in the second quarter of 2025.
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