NASDAQ$ACDC
ProFrac Holding Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
ProFrac's Q4 2023 results were challenged due to persistent softness throughout the second half of the year, but the company grew free cash flow generation and took steps to position for future success.
ProFrac's Q4 2023 results were impacted by lower commodity prices and decreased activity levels. However, the company grew its free cash flow generation and focused on strategic priorities to improve its position in the oilfield services industry.
- The company focused on three key strategic priorities: providing safe, superior services and improving the overall experience for our customers.
- The company focused on three key strategic priorities: improving utilization in every aspect of our business.
- The company focused on three key strategic priorities: achieving the lowest operating costs per unit in the industry.
- The company has activated 10 fleets since the start of the fourth quarter.
Headline financials
Revenue & EPS history
ProFrac · Revenue · Quarterly
$489M
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
The Company expects increased profitability levels for 2024. In the Proppant Production segment, the Company expects modest improvement to mine utilization in the first quarter of 2024 with pricing per ton in the $25 - $30 dollar range, based on metrics to-date. In the second quarter of 2024, the Company expects to further improve utilization to 65-75%.
Tailwinds
- The higher fleet count, combined with higher expected pumping hours and the cost actions that have been put into place will help offset any pricing pressures and allow for increased profitability levels for 2024.
- The Company expects modest improvement to mine utilization in the first quarter of 2024 with pricing per ton in the $25 - $30 dollar range, based on metrics to-date.
- The Company expects to further improve utilization to 65-75% in the second quarter of 2024.
- The Company has activated 10 fleets since the start of the fourth quarter.
- The company has increased its fleet count for the start of the year with improved pumping efficiencies across all active fleets.
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 Q4 2023
-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 | — | — | — |
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