ProFrac Holding Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 results exceeded expectations despite early weather disruptions, with strong operational efficiency, cost savings, and price increases secured for most fleets. Market tightening and technology advances support a positive outlook, with Q2 and the second half expected to improve sequentially.
Fiscal Year 2025
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Q4 2025 saw a 49% sequential EBITDA increase, driven by strong stimulation and proppant segments, with cost optimization ahead of schedule and new technology initiatives advancing. Despite weather disruptions, operational momentum is building for 2026.
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Q3 results reflected market volatility, with revenues and margins down sequentially, but $100 million in annualized cost savings and up to $200 million in capital raises position the company for resilience. Dedicated fleets, technology leadership, and a positive natural gas outlook support future growth.
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Q2 2025 saw revenues of $502M and $54M in free cash flow amid market headwinds, with operational excellence driven by technology and asset management. Strategic moves, including the Flotek partnership and reduced CapEx, position the company for a potential 2026 market rebound.
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Q1 2025 saw 32% revenue growth and 83% higher adjusted EBITDA, driven by record operational efficiency and strategic asset management. While Q2 volumes are expected to dip, favorable pricing and logistics, plus Haynesville gas activity, offer upside amid tariff and OPEC-related uncertainty.
Fiscal Year 2024
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Q4 revenue and EBITDA declined sequentially due to seasonal and market pressures, but operational improvements and asset management drove record efficiencies and strong free cash flow. Launch of Livewire Power and disciplined capital allocation position the company for growth in 2025.
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Q3 2024 saw $575M revenue and $135M adjusted EBITDA, with record operational efficiencies and strong investment in next-gen equipment. Market headwinds and pricing pressures persist, but recovery is expected in 2025, especially in West and South Texas.
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Q2 2024 saw record efficiency and stable revenue, but adjusted EBITDA declined 15% sequentially due to lower fleet activity and pricing. The company increased market share in West Texas, completed the AST acquisition, and remains focused on cost control and integrated solutions.