ProPetro Q2 revenue rises 13%, slightly beats estimates
PUMP•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 and result drivers
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Company expects 2026 capital expenditures of $525 mln to $595 mln, down from prior $540 mln-$610 mln range
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Completions business 2026 capex seen at $125 mln-$145 mln, down from $140 mln-$160 mln prior guidance
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Company expects to activate thirteenth frac fleet later in Q3 2026 amid rising customer demand
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Higher utilization - Co said Q2 revenue growth was primarily driven by increased utilization in the completions business and incremental deployments in PROPWR
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Operational disruptions - Upfront costs for new fleet, unexpected downtime, and severe weather negatively impacted results
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PROPWR commercial progress - Co reported increased contracted power generation capacity and ongoing expansion in data center, oil and gas, and industrial markets
