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Jun 30, 2025
ProPetro Q2 2025 Earnings Report
ProPetro reported its financial and operational results for the second quarter of 2025, showing a decrease in revenue and a net loss compared to the prior quarter.
Key Takeaways
ProPetro experienced a challenging second quarter in 2025, with total revenue decreasing by 9% to $326 million and a net loss of $7 million, or $0.07 per diluted share, compared to a net income in the previous quarter. Despite the downturn, the company maintained operational and financial stability, supported by its capital-light investment strategy and cost control, and secured a significant 10-year contract for its PROPWR service capacity.
Total revenue for Q2 2025 was $326 million, a 9% decrease from the prior quarter's $359 million.
The company reported a net loss of $7 million ($0.07 loss per diluted share) in Q2 2025, a decline from a net income of $10 million ($0.09 income per diluted share) in the previous quarter.
Adjusted EBITDA decreased by 32% to $50 million, representing 15% of revenue, compared to $73 million in the prior quarter.
ProPetro secured an inaugural 10-year contract for approximately 80 megawatts of long-term PROPWR℠ service capacity with a leading E&P operator in the Permian Basin.
Revenue by Segment
Forward Guidance
ProPetro anticipates full-year 2025 capital expenditures incurred to be between $270 million and $310 million, a reduction from prior guidance, with a focus on allocating funds to both the completions business and PROPWR equipment orders. The company expects to operate fewer hydraulic fracturing fleets in Q3 2025 due to market conditions.
Positive Outlook
- Full-year 2025 capital expenditures incurred are anticipated to be between $270 million and $310 million, a 9% reduction at the midpoint from prior guidance, indicating disciplined capital deployment.
- The completions business is expected to account for $100 million to $140 million of capital expenditures, reflecting continued investment in core operations.
- The company plans to allocate $170 million in 2025 and $60 million in 2026 to support current PROPWR equipment orders, demonstrating commitment to growth in power generation services.
- Approximately $104 million of the PROPWR capital expenditures are expected to be financed, reducing direct cash outflow.
- The company is confident in securing long-term agreements for all 220 megawatts of currently ordered PROPWR equipment by the end of 2025.
Challenges Ahead
- Anticipated decline in completions activity through the second half of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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