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Dec 31, 2021
ProPetro Q4 2021 Earnings Report
Announced financial and operational results, noting a transitory period and strategic repositioning for a favorable supply-demand backdrop in 2022.
Key Takeaways
ProPetro Holding Corp. reported a decrease in revenue to $246 million, a net loss of $20 million, and an adjusted EBITDA of $37 million for Q4 2021. The company focused on repositioning its business and managing its supply chain, while also generating positive free cash flow from the sale of underutilized turbine generators.
Total revenue for the quarter decreased 2% to $246 million.
Net loss for the quarter was $20 million, or $0.20 per diluted share.
Adjusted EBITDA for the quarter decreased 12% to $37 million.
Positive Free Cash Flow for the quarter was approximately $26 million.
Forward Guidance
ProPetro anticipates a favorable phase of the investment cycle for North American oil and gas, particularly in the Permian Basin, due to rising oil prices and pressure pumping attrition. The company remains focused on operational excellence, capital discipline, and transitioning its fleet to ESG-friendly products.
Positive Outlook
- Rising oil prices are expected to create tailwinds for ProPetro in 2022.
- North American pressure pumping attrition is anticipated to create tailwinds for ProPetro in 2022.
- The company is uniquely positioned to meet the increasing investment in oil and gas production.
- The company remains focused on operational excellence.
- The company is focused on capital discipline.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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