ProPetro Holding (NYSE: PUMP) reported Q1 EPS of $0.42, $0.04 better than the analyst estimate of $0.38. Revenue for the quarter came in at $385 million versus the consensus estimate of $375.7 million.

First Quarter 2018 and Recent Highlights

• Total revenue for the quarter increased approximately 23% to $385.2 million, compared to $313.7 million for the fourth quarter of 2017.
• Net income for the quarter was $36.7 million, or $0.42 per diluted share, as compared to $10.1 million, or $0.12 per diluted share, for the fourth quarter of 2017.
• Adjusted EBITDA for the quarter was $76.7 million, up 79% from $42.8 million for the fourth quarter of 2017.
• Frac fleet remained fully utilized, including deployment of two new-build fleets, and an additional 35,000 hydraulic horsepower (“HHP”) into the legacy fleet. Period ending capacity was 815,000 HHP, or 18 fleets – more than a 18% increase as compared to 690,000 HHP at the end of the fourth quarter of 2017.
• In April took delivery and immediately commenced operations of an additional new-build frac fleet bringing total deployed capacity to 860,000 HHP, or 19 fleets.
• As previously announced, the Company plans to deploy one additional new-build fleet in the fourth quarter of 2018. This addition will increase total frac fleet capacity to 905,000 HHP, or 20 fleets.

For earnings history and earnings-related data on ProPetro Holding (PUMP) click here.