NASDAQ$ACDC
ProFrac Holding Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported lower results due to market softness and operators reducing drilling and completion activity.
ProFrac reported sequentially lower results in Q2 2024 due to market challenges, particularly in natural gas regions, as operators reduced drilling and completion activity. However, the company achieved records for average pump hours per fleet and efficiencies while upgrading its fleet with electric and Tier 4 dual fuel systems.
- Achieved records for average pump hours per fleet and efficiencies.
- Upgraded fleet with additional electric and Tier 4 dual fuel systems.
- Fielding new inbound requests for additional deployments with high demand for electric and Tier 4 dual fuel technologies.
- 70% of active fleets include e-fleet or natural gas-capable equipment.
Headline financials
Revenue & EPS history
ProFrac · Revenue · Quarterly
$579M
Revenue by segment
ProFrac · $632M total across 3 segments · Q3 2023
- Stimulation services$490M-26.8%77.5%
- Proppant production$98.4M+300.0%15.6%
- Manufacturing$43.8M-10.1%6.9%
Forward guidance
In the Stimulation Services segment, the Company anticipates pricing will remain steady. In the Proppant Production segment, the Company currently anticipates that total volumes and pricing will continue to decline followed by a gradual recovery.
Tailwinds
- Pricing will remain steady in Stimulation Services.
- Opportunities to further improve profitability per fleet due to superior cost structure and operating leverage.
- Fielding new inbound requests for additional integrated fleet deployments with the highest demand for electric and Tier 4 dual fuel technologies.
- Reduction in profitability in Proppant Production segment will be partially offset by operating cost reductions.
- Idling of one underperforming mine in the Haynesville region.
Headwinds
- Market for services has been challenged as operators have reduced drilling and completion activity.
- Market softness in the second quarter led to sequentially lower results.
- Total volumes and pricing will continue to decline in Proppant Production segment.
- Goodwill impairment of $67.7 million related to the Company’s Haynesville Proppant reporting unit.
- Approximately 74% of the Manufacturing segment’s revenue was intercompany.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q2 2024
-0.4%
Avg return
Earnings day
+1.3%
Avg return
5 days after
+7.2%
Avg return
30 days after
53%
8 / 15 earnings
Positive
+19.6%
Q3 2024
Best reaction
-21.6%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.5% | +8.4% | +5.5% | |
| Q4 2025 | +18.6% | +15.5% | +0.3% | |
| Q3 2025 | -20.1% | -24.1% | -9.9% | |
| Q1 2025 | -7.3% | +8.3% | +94.5% | |
| Q4 2024 | +0.6% | +10.9% | -21.1% | |
| Q3 2024 | +19.6% | +11.7% | +32.2% | |
| Q2 2024 | -19.9% | -12.4% | -10.6% | |
| Q1 2024 | +12.0% | +22.8% | +23.1% | |
| Q4 2023 | -1.8% | -1.4% | +6.6% | |
| Q3 2023 | -4.9% | +6.0% | -5.0% | |
| Q2 2023 | -11.3% | -18.3% | -12.3% | |
| Q1 2023 | +8.2% | +2.9% | +25.5% | |
| Q4 2022 | -21.6% | -24.4% | -20.5% | |
| Q3 2022 | +7.3% | +5.6% | -11.9% | |
| Q2 2022 | +13.7% | +7.5% | +11.0% | |
| Q1 2022 | — | — | — | |
| Q4 2021 | — | — | — | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro