ProPetro Q2 revenue rises 13%, slightly beats estimates

ProPetro Holding

29/07/2026 12:12

Overview
U.S. oilfield services firm's Q2 revenue rose 13%, slightly beating analyst expectations
Adjusted EBITDA for Q2 missed analyst estimates
Results impacted by new fleet startup costs, deployment downtime, and severe weather

Outlook
Company expects 2026 capital expenditures of $525 mln to $595 mln, down from prior $540 mln-$610 mln range
Completions business 2026 capex seen at $125 mln-$145 mln, down from $140 mln-$160 mln prior guidance
Company expects to activate thirteenth frac fleet later in Q3 2026 amid rising customer demand

Result Drivers
HIGHER UTILIZATION - Co said Q2 revenue growth was primarily driven by increased utilization in the completions business and incremental deployments in PROPWR
OPERATIONAL DISRUPTIONS - Upfront costs for new fleet, unexpected downtime, and severe weather negatively impacted results
PROPWR COMMERCIAL PROGRESS - Co reported increased contracted power generation capacity and ongoing expansion in data center, oil and gas, and industrial markets

Company press release: ID:nBw77cqwa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Beat*
$306 mln
$304.41 mln (8 Analysts)
Q2 Net Loss
 
$8.11 mln
 
Q2 Adjusted EBITDA
Miss
$45 mln
$52.34 mln (10 Analysts)
Q2 Capex
 
$61 mln
 
Q2 EBIT
 
-$3.18 mln
 
Q2 Pretax Loss
 
$2.18 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)