ProPetro falls after Q4 loss

ProPetro Holding

21/02/2024 19:15

** Shares of oilfield service provider ProPetro Holding
 PUMP.N  down 6.8% at $7.66 
    ** Co posts Q4 loss of $17.1 mln vs profit of $13.04 mln in
the year-ago quarter 
    ** PUMP also posts adj. core profit of $64.27 mln vs est of
$78 mln - LSEG 
    ** "The fourth quarter proved to be more challenging than we
had originally anticipated, largely due to additional deferred
activity late in the quarter" - Co 
    ** PUMP expects 2024 capital expenditures in the range of
$200 mln to $250 mln, compared with $310 mln in 2023  
    ** Including session's losses, stock is down 8.7% YTD 

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))