Propetro Holding Stock Earnings Reports

Key points for investors: ProPetro reported Q1 2026 revenue of $271 million (down 7% QoQ) and a net loss of $4 million ($0.03 per diluted share). Adjusted EBITDA was $36 million (13% of revenue), down 29% QoQ, driven largely by lower utilization in completions due to adverse weather and $16 million of lease expense related to electric fleets. The completions business remains resilient and cash-generative over time, with ~75% of the fleet next-generation (Tier 4 DGB dual-fuel and FORCE electric) and the company expecting to run ~12 fleets in Q2. PROPWR is accelerating: ProPetro announced a strategic framework with Caterpillar that could enable acquisition of up to ~2.1 GW of additional generation capacity (combined with prior orders ~2.6 GW targeted by year-end 2031 / fully deployed in 2032). PROPWR’s commercial pipeline includes several hundred megawatts of high‑potential data center opportunities and ~100 MW of oil & gas microgrid projects expected later this year; committed capacity today is ~240 MW but management expects materially more contracts in 2026. Management raised full‑year 2026 capex incurred guidance to $540–610 million (previously $390–435M), with ~$400–450M of that for PROPWR and ~$140–160M for completions (including $40–50M for planned buyouts of five FORCE electric fleet leases). Cash as of 3/31/26 was $157 million and total liquidity $289 million (including $132M available on the ABL). Financing strategy remains: prefer free cash flow from completions, supplemented by balance sheet, recent equity offering, Caterpillar financing facility, lease financing (Stonebriar), and other debt options as needed. Market commentary: geopolitical disruption (Iran war) has increased commodity volatility but also strengthened pricing and tightening in the completions market; ProPetro is exercising disciplined capacity deployment and capital allocation while positioning PROPWR for long‑term growth.