ProPetro Q2 Revenue Climbs 13% to $306M as PROPWR Contracted Capacity Reaches 350 MW
PUMP has more than doubled off its 52-week low of $4.51.
Summary
ProPetro's Q2 revenue rose 13% to $306M, Adjusted EBITDA reached $45M, and PROPWR contracted capacity hit 350 MW with live data center operations—a major step in its power generation pivot.
Key Events · Earnings and Guidance · PUMP
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Q2 Revenue and Profitability Beat
Revenue of $306 million, up 13% sequentially, was driven by higher completions utilization and PROPWR deployments. Adjusted EBITDA of $45 million (15% margin) rose 23% from Q1.
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PROPWR Contracted Capacity Hits 350 MW
Contracted power generation capacity grew by ~110 MW across two projects, bringing the total to ~350 MW. Assets are now operating at a Midwest hyperscaler data center site, providing prime power at scale.
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Completions Free Cash Flow Remains Strong
Free Cash Flow from Completions Business was $51 million, demonstrating the cash-generating power of the core frac business despite weather and fleet startup costs.
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Full-Year Capex Guidance Lowered
2026 capex guidance was reduced to $525M-$595M from $540M-$610M, primarily due to deferring a second FORCE fleet buyout to early 2027. PROPWR capex guidance held at $400M-$450M.
Analysis · PUMP · Energy & Transportation
A strong second quarter saw revenue climb 13% sequentially to $306 million, while Adjusted EBITDA jumped 23% to $45 million—even as weather and fleet deployments created operational headwinds. The completions business underscored the resilience of its industrialized model by generating $51 million in free cash flow. More importantly, the PROPWR power generation segment hit a critical milestone: contracted capacity surged to approximately 350 megawatts, and assets are now live at a data center site, making ProPetro one of the first behind-the-meter providers operating at scale. Management also lowered full-year capex guidance and announced plans to activate a 13th frac fleet, signaling confidence in tightening market conditions. With $784 million in cash and a $905 million liquidity position, the company is well-funded to scale PROPWR while its core completions business benefits from improving pricing and reduced industry capacity.
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At the time of this filing, PUMP was trading at $10.14 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 filing was assessed with positive market sentiment and an importance score of 8 out of 10.