ProFrac falls as fourth-quarter results miss estimates
21/03/2023 14:27
** Hydraulic fracturing firm ProFrac Holding Corp's shares
ACDC.O fall 6.1% to $13.77
** Shares set for an all-time low, if current losses hold
** Reports fourth-quarter earnings of 82 cents/share vs
analysts' estimate of 88 cents - Refinitiv
** Revenue of $794 mln misses estimate of $800 mln
** Lower commodity prices have impacted customers' business
over last several months - ACDC
** Expects less efficient calendar combined with seasonal
winter weather impacts to slightly reduce efficiencies in Q1'23
vs Q4'22
** Expects 2023 capital expenditures to be in line with 2022
** Accounting for session losses, stock down 46% YTD
(Reporting by Arshreet Singh in Bengaluru)
((Arshreet.Singh@thomsonreuters.com))