ProPetro Q2 Revenue Jumps 13% to $306M, PROPWR Capacity Hits 350 MW
PUMP has more than doubled off its 52-week low of $4.51.
Summary
ProPetro's Q2 revenue rose 13% sequentially to $306M, driven by its completions business, though net loss widened to $8M from $4M on fleet startup costs and weather disruptions. Adjusted EBITDA grew 23% to $45M, and free cash flow from completions was $51M. The PROPWR power generation segment added 110 MW of contracted capacity, reaching ~350 MW, with assets now operating at a hyperscaler data center. Management cited tightening frac capacity and a 10% Permian rig count rebound as tailwinds, and plans to activate a 13th fleet by late Q3. This follows the $690M convertible notes offering in May and Exxon's full exit, with the company now balancing a recovering completions market against macro uncertainty from the Iran War.
At the time of this announcement, PUMP was trading at $11.56 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $4.51 to $18.50. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: BusinessWire.