NYSE$PUMP

ProPetro Holding Corp · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

ProPetro experienced revenue increase and adjusted EBITDA growth, but reported a net loss.

ProPetro Holding Corp. reported an 11% increase in revenue compared to Q1 2022, reaching $315 million. Adjusted EBITDA also increased by 13% to $76 million, representing 24% of revenues. However, the company reported a net loss of $33 million and a free cash flow of $1 million for the same period.

  • Revenue: $315 million, increased 11% vs. 1Q22
  • Adj. EBITDA: $76 million or 24% of revenues, increased 13% vs. 1Q22
  • Net Loss: $33 million
  • Free Cash Flow: $1 million

Headline financials

Total Revenue

$315M

Previous: $217M+45.3%
EPS (adj)

$0.23

Previous: -$0.08+387.5%
Capital Expenditures

-$145M

Previous: -$52.2M-176.9%
Free Cash Flow

-$177M

Previous: -$60.7M-192.2%
Net Income

-$32.9M

Previous: -$8.51M-286.1%
Operating Income

-$40.3M

Previous: -$11.7M-242.8%
Gross Profit

$64.8M

Previous: $800K+8001.0%
Cash & Equivalents

$70M

Previous: $72.7M-3.7%
Total Assets

$1.07B

Previous: $1.07B+0.1%
Stock-Based Comp

$3.46M

Previous: $2.91M+18.9%

Revenue & EPS history

ProPetro · Revenue · Quarterly

$315M

Q2 2022+45.3%vs Q2 2021
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Forward guidance

ProPetro anticipates continued growth and efficiency through disciplined fleet deployments and strategic investments in Tier IV DGB dual-fuel equipment.

Tailwinds

  • Capital-efficient growth through disciplined fleet deployments
  • Improved pricing
  • Efficient operations
  • Collaboration with customers to create unparalleled efficiencies at the wellsite
  • Expect to start 2023 with six marketed fleets of Tier IV DGB equipment

Headwinds

  • Volatility of and recent declines in oil prices
  • Operational disruption and market volatility resulting from the COVID-19 pandemic
  • Global macroeconomic uncertainty related to the Russia-Ukraine war
  • Risks described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q
  • Currently unforeseen risks that may have a materially adverse impact

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

-0.2%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+4.9%

Avg return

30 days after

50%

20 / 40 earnings

Positive

+51.6%

Q3 2025

Best reaction

-24.9%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.2%-8.7%-16.5%
Q4 2025-6.9%-9.2%+21.5%
Q3 2025+51.6%+50.0%+31.1%
Q1 2025+6.3%+4.6%+5.3%
Q4 2024-2.3%-1.0%-20.0%
Q3 2024-8.4%-6.6%+11.4%
Q2 2024+3.4%-9.4%-10.9%
Q1 2024+5.0%+10.1%+9.9%
Q4 2023-9.7%-9.9%-6.5%
Q3 2023-3.4%-6.3%-13.1%
Q2 2023-7.7%-5.9%-5.1%
Q1 2023-1.5%-0.7%+11.6%
Q4 2022-4.4%-6.9%-27.1%
Q3 2022-8.4%-2.4%-9.4%
Q2 2022-15.4%-16.4%-15.0%
Q1 2022-2.1%-5.1%-6.2%
Q4 2021-11.5%-2.1%+14.4%
Q3 2021-0.7%-0.7%-13.7%
Q2 2021-9.1%-3.3%+3.4%
Q1 2021-5.1%+2.4%+5.3%
Q4 2020+11.2%+11.8%+6.2%
Q3 2020+4.3%-4.1%+58.5%
Q2 2020+11.9%+6.9%+8.1%
Q4 2019+3.2%+44.0%+96.3%
Q3 2019+0.7%+4.0%+30.0%
Q2 2019-24.9%-28.2%-40.1%
Q1 2019-6.4%-5.4%-18.5%
Q4 2018+2.7%+11.5%+21.8%
Q3 2018+5.1%+4.7%-18.0%
Q2 2018+3.6%+6.3%-9.9%
Q1 2018+8.3%+6.3%-14.9%
Q4 2015-8.4%-6.3%+9.7%
Q4 2017-5.2%-4.2%+10.6%
Q3 2016+0.7%+5.1%+21.7%
Q3 2017+2.8%+6.5%+25.7%
Q2 2016-5.3%-5.0%-4.9%
Q2 2017+1.6%-5.8%-3.6%
Q4 2016+5.0%+1.0%+13.8%
Q1 2016+5.0%+1.0%+13.8%
Q1 2017+3.7%+8.9%+18.0%

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