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Jun 30, 2022
ProPetro Q2 2022 Earnings Report
ProPetro experienced revenue increase and adjusted EBITDA growth, but reported a net loss.
Key Takeaways
ProPetro Holding Corp. reported an 11% increase in revenue compared to Q1 2022, reaching $315 million. Adjusted EBITDA also increased by 13% to $76 million, representing 24% of revenues. However, the company reported a net loss of $33 million and a free cash flow of $1 million for the same period.
Revenue: $315 million, increased 11% vs. 1Q22
Adj. EBITDA: $76 million or 24% of revenues, increased 13% vs. 1Q22
Net Loss: $33 million
Free Cash Flow: $1 million
Forward Guidance
ProPetro anticipates continued growth and efficiency through disciplined fleet deployments and strategic investments in Tier IV DGB dual-fuel equipment.
Positive Outlook
- Capital-efficient growth through disciplined fleet deployments
- Improved pricing
- Efficient operations
- Collaboration with customers to create unparalleled efficiencies at the wellsite
- Expect to start 2023 with six marketed fleets of Tier IV DGB equipment
Challenges Ahead
- Volatility of and recent declines in oil prices
- Operational disruption and market volatility resulting from the COVID-19 pandemic
- Global macroeconomic uncertainty related to the Russia-Ukraine war
- Risks described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q
Historical Earnings Impact
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Avg. Return Before/After Earnings
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