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Sep 30, 2021
ProPetro Q3 2021 Earnings Report
Revenue and profitability increased due to higher activity and improved pricing.
Key Takeaways
ProPetro reported a 15% increase in revenue to $250 million compared to the previous quarter. Net loss improved by over 40% to $5 million, and Adjusted EBITDA increased by 18% to $42 million. The company's effective utilization was 13.8 fleets, and it generated $8 million in free cash flow.
Total revenue increased 15% to $250 million compared to Q2 2021.
Net loss improved over 40% to $5 million, or $0.05 per diluted share.
Adjusted EBITDA increased 18% to $42 million compared to Q2 2021.
Net cash provided by operating activities was $65 million.
Forward Guidance
ProPetro anticipates pressure pumping fundamentals to continue to improve as we progress into 2022 and ProPetro is well prepared to react to the modest increase in activity that we expect in the months to come.
Positive Outlook
- Pressure pumping fundamentals are expected to improve.
- ProPetro is prepared to react to the expected increase in activity.
- Focus on capital discipline.
- Aims to operate as the most efficient frac provider in the Permian Basin.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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