Overview
ProPetro Q3 revenue of $294 mln beats analyst expectations despite a 10% quarterly decline
Adjusted EBITDA for Q3 misses analyst expectations, reflecting lower revenues and fleet transition costs
Company secures long-term contracts for PROPWR, expanding power capacity to over 150 megawatts
Outlook
ProPetro expects full-year 2025 capital expenditures to be $270 mln to $290 mln
Company projects PROPWR capital expenditures of $200 mln to $250 mln in 2026
ProPetro targets 750 megawatts of PROPWR capacity by year-end 2028
Result Drivers
LOWER UTILIZATION - Revenue decline attributed to lower utilization in hydraulic fracturing business
PROPWR EXPANSION - Secured long-term contracts for PROPWR, expanding power capacity to over 150 megawatts
CAPITAL MANAGEMENT - Actively managing capital expenditures and financing to support PROPWR growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $294 mln | $273.67 mln (6 Analysts) |
Q3 Net Income | -$2.36 mln | ||
Q3 Adjusted EBITDA | Miss | $35 mln | $38.88 mln (8 Analysts) |
Q3 Capex | $44 mln | ||
Q3 EBIT | -$6.06 mln | ||
Q3 Pretax Profit | -$3.06 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy."
Wall Street's median 12-month price target for ProPetro Holding Corp is $6.50, about 12.3% below its October 28 closing price of $7.30
Press Release: ID:nBw8MZlJLa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)