ProFrac Holding Corp. (ACDC) reports revenue, offers outlook

ProFrac Holding Corp. (NASDAQ: ACDC) reported revenue for the quarter came in at $489 million versus the consensus estimate of $592.54 million.

Outlook:

Outlook

In the Stimulation Services segment, the Company has activated 10 fleets since the start of the fourth quarter. 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.

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%.

For earnings history and earnings-related data on ProFrac Holding Corp. (ACDC) click here.

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