A month has gone by since the last earnings report for ProPetro Holding (PUMP - Free Report) . Shares have added about 3.3% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is ProPetro due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for ProPetro Holding Corp. before we dive into how investors and analysts have reacted as of late.
ProPetro Q2 Loss Wider Than Expected, Revenues Beat EstimateProPetro Holding reported a second-quarter 2026 loss of 7 cents per share, wider than the Zacks Consensus Estimate of a loss of 1 cent. This was due to higher fleet activation costs, unexpected downtime on an out-of-basin project, severe weather in the Permian Basin during June and increased operating expenses, which weighed on earnings. The bottom line was unchanged from the year-ago quarter’s loss of 7 cents.
Revenues of $306 million beat the Zacks consensus estimate of $301 million by 1.8%, primarily due to higher-than-expected Power Generation, Hydraulic Fracturing and Cementing segment revenues, which beat consensus estimates by 97%, 0.5% and 10%, respectively. However, the metric declined 6.2% year over year from $326.2 million in the prior-year quarter, primarily due to lower Wireline revenues, which missed the consensus estimate by 4.9%.
Adjusted EBITDA totaled $44.8 million, up 23% from $36.4 million in the prior quarter. The metric represented roughly 15% of revenues and included $15.8 million of operating lease expense related to the company’s FORCE electric fleets. However, the metric missed our estimate of $46.2 million.
PUMP’s Business Reporting SegmentsProPetro conducts its operations through four reporting segments: Hydraulic Fracturing, Wireline, Cementing and Power Generation. Total revenues increased 13% sequentially from $271 million, primarily due to higher completions utilization and incremental PROPWR deployments.
Hydraulic fracturing revenues totaled $207.2 million, up 15.6% from $179.3 million in the prior quarter. However, the figure missed our estimate of $210.2 million. This segment accounted for approximately 68% of ProPetro’s consolidated second-quarter revenues.
Adjusted EBITDA from hydraulic fracturing increased 19.3% sequentially to $44.2 million. However, performance was affected by upfront maintenance and deployment costs associated with activating the 12th fleet, significant downtime on a temporary out-of-basin customer project and severe Permian Basin weather in June.
Wireline revenues totaled $57.5 million, down 6.9% from the previous quarter. However, the figure beat our estimate of $55.2 million. Adjusted EBITDA from the segment declined 16.2% sequentially to $11.4 million. Management nevertheless described wireline utilization, pricing and margins as resilient.
Cementing revenues increased 15.2% sequentially to $32 million. The figure beat our estimate of $30.5 million. Segment adjusted EBITDA surged to $5.5 million from $2.1 million, supported by improving activity and higher Permian Basin drilling levels.
Power generation revenues rose to $9.3 million from $2.2 million in the prior quarter. The figure beat our estimate of $1.1 million. The segment’s adjusted EBITDA loss narrowed to $0.7 million from $5.3 million. PROPWR also generated positive EBITDA during the quarter’s final two months.
PUMP’s Costs & Financial PositionTotal costs and expenses were $309 million for the second quarter, which was down 6.2% from the prior-year quarter’s level.Cost of services, excluding depreciation and amortization, totaled $234 million. General and administrative expenses increased to $33.1 million from $27.2 million sequentially, primarily due to costs associated with PROPWR’s growth and financing activities. Depreciation and amortization rose to $43.5 million from $40.6 million in the prior quarter. The company reported a net loss of $8.1 million compared with a loss of $3.6 million in the first quarter. Net cash provided by operating activities increased to $66 million from $3 million. The improvement reflected higher adjusted EBITDA and approximately $20 million of working-capital tailwinds. Free cash flow from the completions business totaled $51.1 million.
As of June 30, 2026, ProPetro had $784 million in cash and cash equivalents, including proceeds from its $690 million convertible senior notes offering. Total liquidity was $905 million, including $121 million of available borrowing capacity under the ABL Credit Facility. Long-term debt amounted to $764.9 million. The total debt-to-total capital was 44.4%.
Capital expenditures paid were $61 million, while incurred capital expenditures totaled $71 million. Approximately $24 million supported completions, while $47 million funded PROPWR equipment orders.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -115% due to these changes.
VGM ScoresCurrently, ProPetro has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, ProPetro has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerProPetro is part of the Zacks Oil and Gas - Field Services industry. Over the past month, Halliburton (HAL - Free Report) , a stock from the same industry, has gained 12.2%. The company reported its results for the quarter ended June 2026 more than a month ago.
Halliburton reported revenues of $5.71 billion in the last reported quarter, representing a year-over-year change of +3.7%. EPS of $0.55 for the same period compares with $0.55 a year ago.
For the current quarter, Halliburton is expected to post earnings of $0.58 per share, indicating no change from the year-ago quarter. The Zacks Consensus Estimate has changed -0.4% over the last 30 days.
Halliburton has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
ProPetro Holding Corp. (“ProPetro” or the “Company”) (NYSE: PUMP) today announced the dual listing of its common stock on NYSE Texas, Inc. (the “NYSE Texas”), the newly launched fully electronic equities exchange headquartered in Dallas, Texas.
“It is an honor for ProPetro to join the NYSE Texas community. As a company deeply rooted in the Permian Basin, this milestone reflects our commitment to Texas and the state’s support of the broader energy industry,” said Sam Sledge, Chief Executive Officer of ProPetro. “We look forward to the opportunities this new exchange brings for our team and our shareholders.”
"As a Texas-based leader in the energy industry, ProPetro is a natural fit for NYSE Texas and we are excited to welcome them to the community,” said Bryan Daniel, President of NYSE Texas.
ProPetro will maintain its primary listing on the New York Stock Exchange and trade with the same “PUMP” ticker symbol on NYSE Texas.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas based provider of premium completion services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. Through its PROPWR division, ProPetro also delivers reliable, adaptable power services through a modern, standardized fleet of gas-to-power solutions, serving data center, oil and gas, and industrial customers in the United States. ProPetro helps bring reliable energy to the world, enabling operational excellence and energy reliability for their customers. For more information, visit www.propetroservices.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260820663827/en/
Key Takeaways PUMP generated $51 million of Q2 2026 free cash flow as its completions business stayed resilient.PUMP expanded contracted power-generation capacity to about 350 MW with positive monthly EBITDA.PUMP trades well above its five-year median EV/EBITDA, while capital spending and debt have increased. ProPetro Holding Corp. (PUMP - Free Report) combines a cash-generating Permian completions platform with an emerging power-generation business. That mix offers two earnings drivers, but it also raises the cost and execution burden.
PROPWR’s commercial progress is real, yet PUMP’s valuation already sits well above its own historical norm. Investors therefore have to weigh visible growth milestones against spending needs, rising debt and a still-developing earnings contribution.
PUMP's Core Business Is Producing CashProPetro’s completions business generated $51 million of free cash flow in the second quarter of 2026 despite severe Permian weather, upfront costs tied to activating a 12th fleet and unexpected downtime on a temporary out-of-basin project. Disciplined capital deployment, lower ongoing maintenance intensity and an upgraded fleet base helped preserve cash generation.
The company also benefits from long-standing relationships with large Permian customers and demand for natural gas-burning and electric fleets. Halliburton Company (HAL - Free Report) provides a useful industry reference. Its second-quarter 2026 Completion and Production revenues rose 6% sequentially, supported partly by increased stimulation activity in the Western Hemisphere, signaling firmer conditions across a market that remains cyclical.
PROPWR Gives PUMP a New Growth EnginePROPWR increased contracted power-generation capacity to approximately 350 megawatts. Assets are operating at a Midwest hyperscaler data-center site and meeting performance obligations, while advanced negotiations cover more than 100 megawatts for oil and gas projects and several hundred megawatts of data-center opportunities.
The segment generated positive EBITDA in each of the final two months of the quarter, an early sign that deployments can translate into earnings. Caterpillar Inc. (CAT - Free Report) is central to this expansion through a framework that gives PROPWR access to as much as 2.1 gigawatts of additional generation capacity by 2031.
PUMP's Valuation Leaves Limited Room for MisstepsPUMP trades at 8.75X trailing 12-month enterprise value to EBITDA. That is close to the sub-industry multiple of 8.86X but far above the stock’s five-year median of 4.33X.
Image Source: Zacks Investment Research
The premium to PUMP’s own history suggests that investors are already assigning value to PROPWR’s expected growth. Delayed contracts, slower deployments or weaker profitability could pressure the multiple before power generation becomes a larger earnings contributor.
Capital Needs Temper PUMP's Upside CaseManagement expects 2026 incurred capital expenditures of $525-$595 million, including $400-$450 million for PROPWR. Long-term debt surged to $765 million from $79 million in the prior quarter after the company issued convertible notes in May to finance its growth initiatives.
Image Source: Zacks Investment Research
Liquidity of $905 million provides a sizable cushion. ProPetro also had $121 million of availability under its asset-based lending facility, while Caterpillar-related financing capacity was increased to $167 million. These resources ease near-term funding pressure but do not eliminate the need to convert negotiations into contracts with attractive pricing, duration and risk allocation.
PUMP's Scores Point to Patience, Not UrgencyThe investment case supports a hold-or-wait posture. The completions platform is producing cash and PROPWR has reached meaningful commercial milestones, but the current valuation offers less protection against execution setbacks.
PUMP currently carries a Zacks Rank #3 (Hold), alongside a VGM Score of B and a Value Score of B. Its Momentum Score of A is constructive, but the Growth Score of C and the execution demands surrounding PROPWR argue against treating the favorable scores as a clear buying signal. The combination points to patience while investors wait for more consistent earnings progress. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways PUMP reported a wider Q2 loss as higher costs, downtime and severe weather weighed on earnings.ProPetro beat revenue estimates, driven by Power Generation, Hydraulic Fracturing and Cementing results.PUMP lowered 2026 capital spending guidance and expanded PROPWR's contracted power capacity. ProPetro Holding Corp. (PUMP - Free Report) reported a second-quarter 2026 loss of 7 cents per share, wider than the Zacks Consensus Estimate of a loss of 1 cent. This was due to higher fleet activation costs, unexpected downtime on an out-of-basin project, severe weather in the Permian Basin during June and increased operating expenses, which weighed on earnings. The bottom line was unchanged from the year-ago quarter’s loss of 7 cents.
Revenues of $306 million beat the Zacks consensus estimate of $301 million by 1.66%, primarily due to higher-than-expected Power Generation, Hydraulic Fracturing and Cementing segment revenues, which beat consensus estimates by 97%, 0.5% and 10%, respectively. However, the metric declined 6.2% year over year from $326.2 million in the prior-year quarter, primarily due to lower Wireline revenues, which missed the consensus estimate by 4.9%.
Adjusted EBITDA totaled $44.8 million, up 23% from $36.4 million in the prior quarter. The metric represented roughly 15% of revenues and included $15.8 million of operating lease expense related to the company’s FORCE electric fleets. However, the metric missed our estimate of $46.2 million.
PUMP’s Business Reporting SegmentsProPetro conducts its operations through four reporting segments: Hydraulic Fracturing, Wireline, Cementing and Power Generation. Total revenues increased 13% sequentially from $271 million, primarily due to higher completions utilization and incremental PROPWR deployments.
Hydraulic fracturing revenues totaled $207.2 million, up 15.6% from $179.3 million in the prior quarter. However, the figure missed our estimate of $210.2 million. This segment accounted for approximately 68% of ProPetro’s consolidated second-quarter revenues.
Adjusted EBITDA from hydraulic fracturing increased 19.3% sequentially to $44.2 million. However, performance was affected by upfront maintenance and deployment costs associated with activating the 12th fleet, significant downtime on a temporary out-of-basin customer project and severe Permian Basin weather in June.
Wireline revenues totaled $57.5 million, down 6.9% from the previous quarter. However, the figure beat our estimate of $55.2 million. Adjusted EBITDA from the segment declined 16.2% sequentially to $11.4 million. Management nevertheless described wireline utilization, pricing and margins as resilient.
Cementing revenues increased 15.2% sequentially to $32 million. Moreover, the figure beat our estimate of $30.5 million. Segment adjusted EBITDA surged to $5.5 million from $2.1 million, supported by improving activity and higher Permian Basin drilling levels.
Power generation revenues rose to $9.3 million from $2.2 million in the prior quarter. Moreover, the figure beat our estimate of $1.1 million. The segment’s adjusted EBITDA loss narrowed to $0.7 million from $5.3 million. PROPWR also generated positive EBITDA during the quarter’s final two months.
ProPetro’s PROPWR Expansion Gains MomentumPROPWR added approximately 110 megawatts of contracted power generation capacity across two projects. One project supports a leading integrated upstream operator in the Permian Basin, while the other serves an industrial customer. These awards increased total committed capacity to about 350 megawatts.
The company is also in advanced negotiations for more than 100 megawatts supporting other oil and gas operations. Its data center pipeline includes several hundred megawatts in advanced discussions.
Assets are operating at a Midwest hyperscaler data center site, providing prime behind-the-meter power at scale. ProPetro expects most of PROPWR’s future capacity to serve data center customers, which generally offer longer contract terms than oil and gas and industrial projects.
PUMP’s Costs and Cash FlowTotal costs and expenses were $308 million for the second quarter, which was up 10.9% from the prior-year quarter’s level.Cost of services, excluding depreciation and amortization, totaled $234 million. General and administrative expenses increased to $33.1 million from $27.2 million sequentially, primarily due to costs associated with PROPWR’s growth and financing activities.
Depreciation and amortization rose to $43.5 million from $40.6 million in the prior quarter. The company reported a net loss of $8.1 million compared with a loss of $3.6 million in the first quarter.
Net cash provided by operating activities increased to $66 million from $3 million. The improvement reflected higher adjusted EBITDA and approximately $20 million of working-capital tailwinds. Free cash flow from the completions business totaled $51.1 million.
ProPetro’s Financial PositionAs of June 30, 2026, ProPetro had $784 million in cash and cash equivalents, including proceeds from its $690 million convertible senior notes offering. Total liquidity was $905 million, including $121 million of available borrowing capacity under the ABL Credit Facility. Long-term debt amounted to $764.9 million. The total debt-to-total capital was 44.4%.
Capital expenditures paid were $61 million, while incurred capital expenditures totaled $71 million. Approximately $24 million supported completions, while $47 million funded PROPWR equipment orders.
PUMP’s 2026 OutlookProPetro now expects 2026 capital expenditures of $525-$595 million, down from the previous guidance of $540-$610 million. Capital spending for the completions business is projected at $125-$145 million, compared with the earlier outlook of $140-$160 million, primarily due to the timing of planned FORCE electric fleet buyouts. The company now expects to complete one fleet buyout in 2026, with the second shifted to early 2027, while reaffirming its long-term plan to acquire all five FORCE electric fleets.
This Zacks Rank #3 (Hold) company maintained its 2026 PROPWR capital expenditure guidance of $400-$450 million, which includes equipment deliveries and Caterpillar-related equipment down payments. Management also reiterated its cost guidance of approximately $1.4-$1.5 million per megawatt, noting that financing arrangements are expected to reduce near-term cash outflows.
ProPetro expects to activate its 13th hydraulic fracturing fleet later in the third quarter, supported by improving customer demand in the Permian Basin. Management also expects PROPWR to begin generating positive and increasingly meaningful earnings in the second half of 2026 and into 2027 as deployments scale across its contracted customer base.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Important Earnings at a GlanceWhile we have discussed PUMP’s second-quarter results in detail, let us take a look at three other key reports in this space.
Houston, TX-based oil and gas equipment and services provider Halliburton (HAL - Free Report) posted second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. Halliburton’s outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level.
As of June 30, 2026, Halliburton had approximately $2 billion in cash and cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%.
Fort Worth, TX-based oil and gas exploration and production company Range Resources Corporation (RRC - Free Report) reported second-quarter 2026 adjusted earnings of 79 cents per share, up 19.7% from 66 cents a year ago. Range Resources’ bottom line topped the Zacks Consensus Estimate of 56 cents by 41.1%. Strong quarterly results are driven by higher production and improved price realization.
The company’s net debt was $880.8 million at June 30, 2026, down 28% from $1.22 billion at year-end 2025. Range Resources repurchased $78 million of shares and paid $24 million in dividends during the quarter.
Houston, TX-based oil and gas storage and transportation company Kinder Morgan, Inc. (KMI - Free Report) reported second-quarter 2026 adjusted earnings of 37 cents per share, beating the Zacks Consensus Estimate of 31 cents by 19.35%. Earnings increased 32.1% from 28 cents per share in the year-ago quarter. Strong quarterly results benefited from broad-based segment growth, led by higher natural gas transportation and gathering volumes. Natural gas transport volumes rose 7%, while gathering volumes increased 26%.
As of June 30, 2026, Kinder Morgan reported $89 million in cash and cash equivalents. Kinder Morgan’s net debt stood at $32.03 billion at quarter-end. The net debt-to-adjusted EBITDA ratio improved to 3.6X from 3.8X at the end of 2025.
The Energy Trade Is Bigger Than Oil Prices: 3 Stocks to Buy and 2 to SellProPetro NYSE: PUMP reported second-quarter 2026 revenue of $306 million, up 13% from the prior quarter, while its net loss widened to $8 million, or $0.07 per diluted share, from a $4 million loss in the first quarter. Adjusted EBITDA rose 23% sequentially to $45 million, equal to 15% of revenue.
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Chief Executive Officer Sam Sledge said the company’s underlying completions business remained resilient and generated free cash flow despite operational disruptions during the quarter. Those headwinds included severe June weather in the Permian Basin, costs associated with increasing the active frac fleet count from 11 to 12, and unexpected downtime on a temporary customer project outside the Permian.
“Standing up a new fleet requires upfront maintenance and deployment costs before the full earnings benefit is realized,” Sledge said. The temporarily relocated fleet has since returned to the Permian Basin.
Completions outlook and fleet expansion ProPetro said it plans to activate a 13th frac fleet, which is expected to begin contributing near the end of the third quarter. Sledge said the fleet will serve a new blue-chip exploration and production customer and represents an addition beyond the company’s expectations entering the year.
President and Chief Operating Officer Adam Muñoz said redeploying a fleet generally takes roughly 60 to 90 days. Sledge said ProPetro does not currently intend to add a 14th fleet, citing higher redevelopment costs, the need for portfolio optimization, and a need for further pricing gains and customer contract demand before making such an investment.
Management said it sees a tighter market for completion services in the Permian. Sledge said the basin is operating at roughly a mid-70s active frac-fleet count and that raising the count above the mid-80s would require meaningful investment in new growth capacity rather than replacement equipment. He said there are very few readily available fleets in the market.
The company expects pricing and recontracting opportunities as contracts on much of its active horsepower come up for renewal in the next six to nine months. Management said a significant share of those fleets use next-generation natural gas-burning equipment, which it said remains in strong demand amid the spread between diesel and natural gas prices.
Sledge also said customer planning activity has increased, with some larger public operators bringing forward requests for proposals for 2027 work. He said ProPetro intends to maintain a mix of dedicated contracts and operational flexibility rather than placing all capacity under long-term commitments.
PROPWR adds contracted capacity ProPetro’s PROPWR power-generation business increased contracted capacity to approximately 350 megawatts, up from about 240 megawatts at the time of the company’s prior earnings call. The increase included about 110 megawatts across two projects: one for a leading integrated upstream operator in the Permian and another for an industrial customer.
The company is also in advanced contract negotiations for more than 100 megawatts of additional oil-and-gas-related power capacity. Management said contracts in oil and gas and industrial applications tend to have shorter initial terms than data-center arrangements but offer attractive pricing and returns.
Travis Simmering, president of PROPWR, said one newly contracted Permian microgrid project is close to 100 megawatts and is designed primarily for production-related power needs rather than hydraulic fracturing. He said the company sees additional opportunities with large upstream operators and midstream companies in areas without grid connectivity.
While oil and gas and industrial projects are contributing to near-term earnings, management said it still expects most future PROPWR capacity to serve data centers. The company has a 60-megawatt data-center project operating live and meeting performance obligations, according to Sledge. Simmering said the project began operating ahead of schedule after the company met its targeted deployment timeline.
PROPWR generated positive EBITDA in each of the final two months of the second quarter, management said. The company expects the business to contribute increasingly meaningful earnings in the second half of 2026 and into 2027 as more assets are deployed.
Management said its data-center pipeline includes several hundred megawatts in advanced negotiations, though it acknowledged that long-term agreements can take time because they involve substantial capital commitments, project scheduling, and risk-allocation discussions. Sledge said most data-center contract discussions begin at terms of 10 years, with many extending beyond that period.
Capital spending, liquidity and financing Cash flow from operating activities totaled $66 million in the second quarter, compared with $3 million in the prior quarter. Chief Financial Officer Caleb Weatherl attributed the improvement to higher adjusted EBITDA and working-capital benefits. Working capital provided roughly $20 million of cash in the second quarter, compared with a $32 million use of cash in the first quarter.
Capital expenditures paid totaled $61 million, while capital expenditures incurred were $71 million. Of the incurred total, approximately $24 million supported the completions business and $47 million supported PROPWR equipment orders.
ProPetro lowered its full-year 2026 capital expenditure guidance to $525 million to $595 million from a prior range of $540 million to $610 million. The company now expects completions capital spending of $125 million to $145 million, down from $140 million to $160 million, primarily because one planned buyout of a FORCE electric fleet has shifted into early 2027.
PROPWR capital expenditures are still expected to total approximately $400 million to $450 million in 2026. The company maintained its expected PROPWR equipment cost of roughly $1.4 million to $1.5 million per megawatt, including balance-of-plant costs. ProPetro expects to complete one electric-fleet buyout late in 2026, about three in 2027, and one in 2028. As of June 30, ProPetro held $784 million in cash and cash equivalents, including proceeds from its May issuance of $690 million in convertible senior notes. Total liquidity was $905 million, including $121 million of unused borrowing capacity under its asset-based lending facility. Borrowings under the company’s Caterpillar Financial Services financing agreement stood at $130 million, and that facility was recently expanded to $167 million.
Sledge said ProPetro has raised approximately $1.5 billion over the past 18 months to support PROPWR’s expansion and does not see a near- to medium-term funding need, though management will continue to assess capital-raising opportunities.
About ProPetro (NYSE:PUMP)ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients' development targets across unconventional plays.
The company's core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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ProPetro Holding (PUMP - Free Report) reported $305.81 million in revenue for the quarter ended June 2026, representing a year-over-year decline of 6.2%. EPS of -$0.07 for the same period compares to -$0.07 a year ago.
The reported revenue represents a surprise of +1.76% over the Zacks Consensus Estimate of $300.51 million. With the consensus EPS estimate being -$0.01, the EPS surprise was -600%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ProPetro performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Service revenue- Hydraulic Fracturing: $207.25 million versus $206.13 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -15.7% change.Revenue- Service revenue- Power Generation: $9.32 million versus the four-analyst average estimate of $4.73 million.Revenue- Service revenue- Wireline: $57.54 million versus the three-analyst average estimate of $60.62 million. The reported number represents a year-over-year change of +19.9%.Revenue- Service revenue- Cementing: $32.03 million versus the three-analyst average estimate of $29.11 million. The reported number represents a year-over-year change of -1.3%.Revenue- Service revenue- Reconciling Items: $-0.32 million versus $-0.46 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1057.1% change.Adjusted EBITDA- Hydraulic Fracturing: $44.2 million versus the four-analyst average estimate of $48.11 million.Adjusted EBITDA- Wireline: $11.44 million versus $13.45 million estimated by three analysts on average.Adjusted EBITDA- Power Generation: $-0.72 million compared to the $-2.69 million average estimate based on three analysts.Adjusted EBITDA- Reconciling Items: $-15.61 million compared to the $-11.12 million average estimate based on three analysts.Adjusted EBITDA- Cementing: $5.48 million versus the two-analyst average estimate of $3.4 million.View all Key Company Metrics for ProPetro here>>>
Shares of ProPetro have returned -25.7% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
ProPetro Holding (PUMP - Free Report) has been beaten down lately with too much selling pressure. While the stock has lost 25.7% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Why PUMP Could Bounce Back Before LongThe RSI reading of 29.5 for PUMP is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.
This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering PUMP in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 75.8% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, PUMP currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
ProPetro Holding (PUMP - Free Report) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to a loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -600.00%. A quarter ago, it was expected that this oilfield services company would post a loss of $0.12 per share when it actually produced a loss of $0.03, delivering a surprise of +75%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
ProPetro, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $305.81 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.76%. This compares to year-ago revenues of $326.15 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
ProPetro shares have added about 12.1% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for ProPetro?While ProPetro has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for ProPetro was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.04 on $321.59 million in revenues for the coming quarter and -$0.02 on $1.2 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, ProFrac Holding Corp. (ACDC - Free Report) , has yet to report results for the quarter ended June 2026.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +56.7%. The consensus EPS estimate for the quarter has been revised 4.2% higher over the last 30 days to the current level.
ProFrac Holding Corp.'s revenues are expected to be $448.95 million, down 10.6% from the year-ago quarter.
Key Takeaways PUMP to report Q2 results July 29, with consensus estimating a cent per share loss on $300.51M in revenues.PUMP likely benefited from stronger Permian completion activity and disciplined cost management in Q2.PUMP's Q2 revenues are expected to decline year over year as hydraulic fracturing and cementing sales soften. ProPetro Holding Corp. (PUMP - Free Report) is set to release second-quarter 2026 results before the market opens on July 29. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of one cent per share on revenues of $300.51 million.
Let us delve into the factors that are likely to have influenced the oilfield service provider’s performance in the to-be-reported quarter. But first, it is worth taking a look at PUMP’s performance in the last reported quarter.
Highlights of PUMP’s Q1 Earnings & Surprise HistoryIn the last reported quarter, the Midland, TX-based oil and gas equipment and services company reported an adjusted profit of 3 cents per share, against the Zacks Consensus Estimate of a loss of 12 cents, driven by disciplined cost management. Revenues of $271 million also marginally beat the consensus mark of $270 million.
PUMP’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one, delivering an average negative surprise of 17.21%.
This is depicted in the graph below:
Trend in PUMP’s Estimate RevisionThe Zacks Consensus Estimate for second-quarter 2026 earnings has witnessed three upward and no downward movements in the past 30 days. The consensus estimate indicates year-over-year earnings growth of 85.71%. However, the Zacks Consensus Estimate for revenues implies a 7.86% decline from the year-ago quarter.
Factors to Consider Ahead of PUMP’s Q2 ReleaseProPetro generates revenues by delivering pressure pumping and other well-completion services to exploration and production companies, which pay it to help complete and enhance oil and natural gas wells.
ProPetro's second-quarter results are likely to benefit from improving completion activity in the Permian Basin. The company is expected to have operated approximately 12 active hydraulic fracturing fleets during the quarter, supported by stronger customer demand and improving completion activity. Higher utilization of its FORCE electric fracturing fleets and growing adoption of natural gas-powered equipment are also likely to have supported operating margins by lowering fuel costs and improving efficiency. Additionally, continued cost discipline and progress in the PROPWR business are likely to have provided incremental support to its earnings.
The reduction in PUMP's costs is expected to have improved its bottom line. PUMP's cost of services (excluding depreciation and amortization) is projected to reach $237 million in the second quarter, down 6.4% from the year-ago quarter's $253.2 million. Meanwhile, depreciation and amortization expense is projected to reach $41.9 million in the second quarter, down 3.4% from the year-ago quarter's level.
On the bearish side, PUMP's total revenues are expected to have suffered in the quarter to be reported. The Zacks Consensus Estimate indicates a decrease in second-quarter 2026 revenues from the year-ago quarter’s $326.2 million. Our model predicts revenues from the hydraulic fracturing services to be $210.2 million, down from $245.7 million in the year-ago period. Meanwhile, our model forecasts revenues from cementing services of $30.5 million, down from $32.4 million in the year-ago period.
What Does Our Model Predict for PUMP?Our proven model predicts an earnings beat for PUMP this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. This is exactly the case here.
PUMP’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is +52.38%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
PUMP’s Zacks Rank: PUMP currently carries a Zacks Rank #2.
Other Stocks to ConsiderHere are some other firms from the energy space that you may want to consider, as these, too, have the right combination of elements to post an earnings beat this reporting cycle.
BP (BP - Free Report) has an Earnings ESP of +3.48% and a Zacks Rank #3. The firm is scheduled to release earnings on Aug. 4. You can see the complete list of today’s Zacks #1 Rank stocks here.
BP is valued at $112 billion. It is a global integrated energy company engaged in oil and natural gas exploration and production, refining, fuel marketing, petrochemicals and renewable energy businesses. BP's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 22.98%.
Murphy Oil (MUR - Free Report) has an Earnings ESP of +10.92% and a Zacks Rank #3. The firm is scheduled to release earnings on Aug. 5. Murphy Oil is an independent oil and natural gas exploration and production company with operations in the United States, Canada and offshore international markets, focusing on the development of conventional and unconventional hydrocarbon resources.
The company is valued at $5.35 billion. Murphy Oil's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 117.54%.
Helmerich & Payne (HP - Free Report) has an Earnings ESP of +9.64% and a Zacks Rank #3. The firm is scheduled to release earnings on Aug. 5.
Helmerich & Payne is valued at $3.46 billion. The company is a leading provider of drilling solutions, offering land and offshore contract drilling services and advanced drilling technologies to oil and natural gas exploration and production companies.
ProPetro Holding (PUMP - Free Report) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 29. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis oilfield services company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +85.7%.
Revenues are expected to be $300.51 million, down 7.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 60% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for ProPetro?For ProPetro, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +52.38%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that ProPetro will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that ProPetro would post a loss of$0.12 per share when it actually produced a loss of -$0.03, delivering a surprise of +75.00%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
ProPetro appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Choosing between offshore and land-based energy services requires balancing global reach against regional dominance. Borr Drilling (BORR +3.02%) and ProPetro (PUMP +2.52%) represent these two distinct paths for investors eyeing the oilfield services industry.
Borr Drilling operates a premium fleet of shallow-water rigs across international markets, while ProPetro provides essential completion services in the heart of American shale production. Both companies are navigating a shifting energy landscape, making their different financial profiles and geographic exposures critical for investors to understand before deciding which stock is the better buy.
The case for Borr DrillingBorr Drilling is a leading contractor in the global energy market, specializing in modern jack-up rigs operating in water depths up to 400 feet. The company maintains a global footprint, with recent operations concentrated in high-demand regions such as Saudi Arabia and Mexico. While many offshore drillers operate older equipment, Borr Drilling manages 29 premium rigs, though its major customers are not disclosed in its recent financial filings.
In FY 2025, the company reported revenue of approximately $1.0 billion, representing a 30% increase over the previous year. Net income for the period was roughly $45 million, down from $82 million in 2024.
As of its December 2025 balance sheet, the debt-to-equity ratio is roughly 1.8x. This metric compares total debt to shareholder equity and suggests the company uses a significant amount of leverage to fund its fleet. The current ratio, which measures the ability to pay short-term debts by dividing current assets by liabilities, is approximately 1.9x. Free cash flow, or the cash remaining after covering operating expenses, reached nearly $127.4 million for the year, a swing from prior negative cash flows.
The case for ProPetro HoldingProPetro Holding Corp provides hydraulic fracturing and completion services primarily to upstream companies in the Permian Basin of West Texas and Southeast New Mexico. Its business strategy is heavily concentrated in this prolific region, allowing for operational efficiency but creating significant customer concentration. Major customers include ExxonMobil (XOM +4.45%) (24.9%), Occidental Petroleum (OXY +3.87%) (13.7%), EOG Resources (EOG +4.55%) (12.1%), and Permian Resources (PR +3.16%) (11.2%). Customer concentration like this adds a layer of risk to the business.
In FY 2025, revenue reached nearly $1.3 billion, down approximately 12% from the prior year. Despite lower revenue, the company achieved a net income of roughly $824,000, a notable recovery from the heavy losses reported in the previous fiscal year. This resulted in a net margin of nearly 0.1%, the percentage of revenue remaining after all operating and non-operating expenses are paid. The narrow margin reflects the highly competitive and capital-intensive nature of the oilfield services sector during periods of fluctuating energy demand.
As of its December 2025 balance sheet, the company maintains a debt-to-equity ratio of approximately 0.3x. This ratio measures total debt relative to shareholders’ equity, and a lower ratio suggests the company is not overly reliant on borrowed funds. The current ratio, which compares short-term assets to short-term liabilities, is roughly 0.2x, indicating a healthy ability to cover immediate obligations. For FY 2025, the company generated free cash flow of approximately $46 million. Free cash flow is the cash remaining from operations after paying for capital expenditures, such as equipment and machinery.
Risk profile comparisonBorr Drilling faces risks inherent to the cyclical nature of the offshore drilling industry, where demand for rigs is tied to global commodity prices. Operating internationally exposes the company to geopolitical instability and varying regulatory environments in regions like the Middle East and Latin America. Additionally, the company must consistently secure high-day-rate contracts for its 29 rigs to service its relatively high debt load. Any prolonged downturn in shallow-water drilling activity could strain its ability to cover these fixed costs.
ProPetro is primarily exposed to geographic concentration, as its operations are almost entirely focused in the Permian Basin. This leaves the company vulnerable to regional pipeline bottlenecks, localized weather events, or regulatory changes in Texas and New Mexico. Furthermore, the company faces significant revenue risk due to the upcoming expiration of a service agreement with an affiliate of ExxonMobil in late 2026. If ProPetro cannot successfully redeploy that equipment at similar rates, its future earnings estimates could be negatively impacted.
Valuation comparisonProPetro appears significantly cheaper based on its Forward P/E, while both companies share an identical P/S ratio.
MetricBorr DrillingProPetroSector BenchmarkForward P/E28.2x3.1x30.2xP/S ratio1.2x1.2xSector benchmark uses the SPDR XLE sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?Borr drilling recently closed a deal that will expand its fleet to 34 rigs, allowing it to better serve the Mexican market. Unfortunately, the company is locked into leases on its existing fleet, which means Borr won’t see the benefit from higher oil prices due ot the Iran war for perhaps a year. That means Borr sales for 2026 are expected to inch up to $1.054 billion, a 3% rise. Worse, the business will swing back to a net loss for the year, probably in the $50 million range, due to delays with some customers and higher operating expenses.
ProPetro is the better choice in 2026. The oilfield services business is improving domestically, thanks to the Iran war and the crude oil price rise it has brought. The company itself is exposed to higher vehicle fuel prices with its own fleet, but it has been aggressively switching to natural gas-powered rigs that are cheaper to operate due to the discounted price of LNG for vehicles.
Overall, business hasn’t been great for ProPetro, with sales and margins decreasing in the first quarter of 2026. Still, while revenue is expected to be flat to slightly decline in 2026 compared to 2025, ProPetro has a promising business in freestanding oil- and gas-powered microgrids, called PROPWR. The growth industry for such freestanding microgrids? AI data centers.
There’s a case in the long run for Borr, Drilling, but ProPetro will show better operating results in 2026.
ProPetro maintains a massive service presence in the Permian Basin and has successfully navigated industry downturns to remain cash-flow positive. Expion360 is delivering rapid revenue growth as it scales its lithium battery technology across the recreational vehicle and marine markets.
ProPetro (PUMP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
ProPetro (NYSE: PUMP - Get Free Report) and Kinetik (NYSE: KNTK - Get Free Report) are both energy companies, but which is the superior stock? We will contrast the two companies based on the strength of their earnings, profitability, analyst recommendations, dividends, risk, valuation and institutional ownership. Profitability This table compares ProPetro and Kinetik's net margins, return
A month has gone by since the last earnings report for ProPetro Holding (PUMP - Free Report) . Shares have added about 27.8% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is ProPetro due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for ProPetro Holding Corp. before we dive into how investors and analysts have reacted as of late.
ProPetro Q4 Earnings & Revenues Top EstimatesProPetro Holding reported a fourth-quarter 2025 adjusted profit per share of 1 cent, which beat the Zacks Consensus Estimate of a loss of 13 cents. The bottom line also improved from the year-ago loss of 1 cent per share, backed by a 16.3% year-over-year decline in costs and expenses.
Revenues of $290 million beat the consensus mark of $280 million. This improvement can be attributed to better-than-expected service revenues in the Wireline and Hydraulic Fracturing segments. Revenues in the Wireline segment reached $55.4 million, surpassing the consensus estimate by 7.4%. Revenues in the Hydraulic Fracturing segment reached $203.9 million, surpassing the consensus estimate by 1.4%. However, the top line decreased 9.6% from the year-ago quarter’s level of $321 million. This was due to a year-over-year decline in service revenues from the Hydraulic Fracturing and Cementing segments.
Adjusted EBITDA amounted to $51 million, up 46% from $35 million reported in the previous quarter. The figure also topped our model estimate of $46.4 million.
For the quarter under review, the Midland, TX-based oil and gas equipment and services company posted a net income of $1 million, a sequential rise from the previous quarter’s reported net loss of $2 million.
PUMP’s Business Reporting SegmentsProPetro conducts its business through four operating segments: Hydraulic Fracturing, Wireline, Cementing and Power Generation.
The hydraulic fracturing operations account for approximately 73.2% of the company’s total revenues and operations. During the fourth quarter, Service revenues from this unit decreased 3% to $203.9 million from the previous quarter’s level. However, the figure beat our estimate of $201.1 million.
Costs & Financial Position of PUMP in Q4Total costs and expenses were $283.6 million for the fourth quarter, which was down 16.3% from the prior-year quarter’s level. The cost of services (exclusive of depreciation and amortization) was $214.6 million compared with $243.5 million in the prior-year quarter.
On the other hand, depreciation and amortization were reduced 14.8% to $41.2 million from the prior-year quarter's level.
In the fourth quarter of 2025, the company paid $64 million in capital expenditures and incurred a total of $71 million. Of the amount incurred, roughly $12 million was primarily allocated toward maintenance activities within the completions business, while approximately $59 million was directed to support PROPWR equipment orders. Net cash used in investing activities, as reported on the statement of cash flows for the quarter, totaled $39 million.
As of Dec. 31, 2025, PUMP had $91.3 million in cash and cash equivalents and $45 million in borrowings under its ABL Credit Facility.
Total liquidity was $205 million, including $114 million in available credit at December-end. Long-term debt amounted to $105.6 million. The total debt-to-total capital was 12.6%.
Net cash provided by operating activities totaled $81 million in this quarter, which was up from $37.9 million in the year-ago quarter. Free cash flow from the completions business improved to approximately $98.1 million compared with $25.2 million in the previous quarter.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -36.67% due to these changes.
VGM ScoresCurrently, ProPetro has a great Growth Score of A, a score with the same score on the momentum front. However, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, ProPetro has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Shares of ProPetro Holding Corp. (NYSE: PUMP - Get Free Report) have been assigned an average recommendation of "Hold" from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating
Bank of America has initiated coverage on ProPetro (NYSE:PUMP) with a 'Buy' rating and a price objective of $18, citing a combination of cyclical recovery in oilfield services and longer-term growth in power infrastructure.
Shares of ProPetro traded up almost 3% at $15 on Monday afternoon.
The bank’s analysts believe ProPetro is well placed for a recovery in hydraulic fracturing, or “Completions,” activity after a weak period expected to bottom in 2026.
At the same time, Bank of America expects a turning point described as an “inflection,” in the company’s PROPWR business beginning in the second half of 2026. This segment focuses on providing power generation and related infrastructure, including for oil and gas operations and data centers.
The analysts expect this combination to reshape the company’s earnings profile over time. While ProPetro currently generates all of its earnings from Completions, Bank of America forecasts that by 2030 roughly 39% of adjusted EBITDA could come from the power segment, reducing reliance on the more volatile oilfield services cycle.
Overall, the firm projects revenue and adjusted EBITDA to grow at compound annual rates of 15% and 35%, respectively, from 2026 through 2030. Its adjusted EBITDA estimates for 2027 and 2028, $365 million and $520 million, are significantly above consensus, reflecting a stronger expected recovery in completions activity.
Cash flow from the legacy business is expected to fund much of the expansion. The analysts estimate free cash flow from Completions will increase from $94 million in 2026 to $170 million in 2027 and $270 million in 2028, which they say should allow ProPetro to scale its power operations without taking on substantial additional debt.
Bank of America also pointed to execution in the power segment, noting the company has assembled an experienced team and has already secured contracts, including a long-term agreement tied to a 60-megawatt data center. The firm expects the division to generate adjusted EBITDA of about $9 million in 2026, rising to $94 million in 2027 and $158 million in 2028 as more capacity is deployed.
Despite a roughly 54% rise in the stock so far this year, the bank’s analysts believe its valuation remains relatively low compared with peers, trading at a discount on forward EBITDA multiples.
They see the overall setup as offering an “attractive risk/reward,” while highlighting risks including prolonged weakness in oil prices, execution challenges in scaling the power business, and the company’s concentration in US shale regions.
Bank of America has initiated coverage on ProPetro (NYSE:PUMP) with a 'Buy' rating and a price objective of $18, citing a combination of cyclical recovery in oilfield services and longer-term growth in power infrastructure.
Shares of ProPetro traded up almost 3% at $15 on Monday afternoon.
The bank’s analysts believe ProPetro is well placed for a recovery in hydraulic fracturing, or “Completions,” activity after a weak period expected to bottom in 2026.
At the same time, Bank of America expects a turning point described as an “inflection,” in the company’s PROPWR business beginning in the second half of 2026. This segment focuses on providing power generation and related infrastructure, including for oil and gas operations and data centers.
The analysts expect this combination to reshape the company’s earnings profile over time. While ProPetro currently generates all of its earnings from Completions, Bank of America forecasts that by 2030 roughly 39% of adjusted EBITDA could come from the power segment, reducing reliance on the more volatile oilfield services cycle.
Overall, the firm projects revenue and adjusted EBITDA to grow at compound annual rates of 15% and 35%, respectively, from 2026 through 2030. Its adjusted EBITDA estimates for 2027 and 2028, $365 million and $520 million, are significantly above consensus, reflecting a stronger expected recovery in completions activity.
Cash flow from the legacy business is expected to fund much of the expansion. The analysts estimate free cash flow from Completions will increase from $94 million in 2026 to $170 million in 2027 and $270 million in 2028, which they say should allow ProPetro to scale its power operations without taking on substantial additional debt.
Bank of America also pointed to execution in the power segment, noting the company has assembled an experienced team and has already secured contracts, including a long-term agreement tied to a 60-megawatt data center. The firm expects the division to generate adjusted EBITDA of about $9 million in 2026, rising to $94 million in 2027 and $158 million in 2028 as more capacity is deployed.
Despite a roughly 54% rise in the stock so far this year, the bank’s analysts believe its valuation remains relatively low compared with peers, trading at a discount on forward EBITDA multiples.
They see the overall setup as offering an “attractive risk/reward,” while highlighting risks including prolonged weakness in oil prices, execution challenges in scaling the power business, and the company’s concentration in US shale regions.
MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. ("ProPetro" or the “Company") (NYSE: PUMP) today announced that it will issue its first quarter of 2026 earnings release on Wednesday, April 29, 2026, before the opening of trading. ProPetro will also host a conference call on Wednesday, April 29, 2026, at 8:00 AM Central Time to discuss its first quarter results.
To access the conference call, U.S. callers may dial toll free 800-715-9871 and international callers may dial +1-646-307-1963. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro’s website, www.propetroservices.com.
A replay of the conference call will be available for one week following the call and may be accessed toll free by dialing +1-800-770-2030 for U.S. and Canada callers, as well as +1-609-800-9909 for international callers. The access code for the replay is 9101849.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas based provider of premium completion services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. Through its PROPWR division, ProPetro also delivers reliable, adaptable power services through a modern, standardized fleet of gas-to-power solutions, serving data center, oil and gas, and industrial customers in the United States. ProPetro helps bring reliable energy to the world, enabling operational excellence and energy reliability for their customers. For more information, visit www.propetroservices.com.
Wall Street expects a year-over-year decline in earnings on lower revenues when ProPetro Holding (PUMP - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on April 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis oilfield services company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of -222.2%.
Revenues are expected to be $271.99 million, down 24.3% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 38.46% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for ProPetro?For ProPetro, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -5.26%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that ProPetro will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that ProPetro would post a loss of$0.13 per share when it actually produced earnings of $0.01, delivering a surprise of +107.69%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
ProPetro doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Wall Street expects a year-over-year increase in earnings on higher revenues when Archrock Inc. (AROC - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on May 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis natural gas compression services business is expected to post quarterly earnings of $0.45 per share in its upcoming report, which represents a year-over-year change of +7.1%.
Revenues are expected to be $376.69 million, up 8.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 5.48% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Archrock Inc.?For Archrock Inc., the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -2.22%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Archrock Inc. will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Archrock Inc. would post earnings of $0.4 per share when it actually produced earnings of $0.69, delivering a surprise of +72.50%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Archrock Inc. doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsProPetro Holding (PUMP - Free Report) , another stock in the Zacks Oil and Gas - Field Services industry, is expected to report loss per share of $0.12 for the quarter ended March 2026. This estimate points to a year-over-year change of -233.3%. Revenues for the quarter are expected to be $270.3 million, down 24.8% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for ProPetro has been revised 38.5% down to the current level. Nevertheless, the company now has an Earnings ESP of -3.45%, reflecting a lower Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that ProPetro will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Key Takeaways ProPetro is set to report Q1 loss of 12 cents per share on $270.3M in revenues on April 30.PUMP expects weaker revenues from hydraulic fracturing and cautious customer spending.Cost inflation, lower utilization and fleet cuts may hurt margins despite late recovery signs. ProPetro Holding Corp. (PUMP - Free Report) is set to release first-quarter 2026 results on April 30. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 12 cents per share on revenues of $270.3 million.
Let us delve into the factors that are likely to have influenced the oilfield service provider’s performance in the to-be-reported quarter. But first, it is worth taking a look at PUMP’s performance in the last reported quarter.
Highlights of PUMP’s Q4 Earnings & Surprise HistoryIn the last reported quarter, the Midland, TX-based oil and gas equipment and services company reported an adjusted profit per share of 1 cent, which beat the Zacks Consensus Estimate of a loss of 13 cents, backed by a 16.3% year-over-year decline in costs and expenses. Revenues of $290 million also topped the consensus mark of $280 million in the quarter.
PUMPS’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one, delivering an average negative surprise of 23.5%. This is depicted in the graph below:
ProPetro Holding Corp. Price and EPS SurpriseTrend in PUMP’s Estimate RevisionThe Zacks Consensus Estimate for first-quarter 2026 earnings has witnessed one upward and two downward movements in the past 30 days. The estimated figure indicates a 233.3% year-over-year decrease. The Zacks Consensus Estimate for revenues indicates a 24.8% decline from the year-ago period.
Factors to Consider Ahead of PUMP’s Q1 ReleasePUMP's total revenues are expected to have suffered in the quarter to be reported. The company offers a wide spectrum of specialized, complementary services and equipment for the exploration and production of oil and natural gas.
The Zacks Consensus Estimate predicts first-quarter revenues to decrease from the year-ago quarter’s $359.4 million. Our model predicts that revenues from the hydraulic fracturing services will generate revenues of $198.4 million, down from $269.4 million in the year-ago period. PUMP also flagged softer activity levels early in the quarter, with customer spending remaining cautious amid macro uncertainty and commodity price volatility. Margin compression is likely due to persistent cost inflation, particularly in labor and maintenance, alongside under-absorption of fixed costs from lower utilization. The company also anticipates a reduction in its fleet count in the first quarter that may impact its profitability.
On a positive note, management highlighted improving activity trends toward the latter part of the quarter, with reactivations driving sequential growth. Strong customer relationships and exposure to resilient basins may sustain utilization better than feared. Cost discipline initiatives and operational efficiencies are expected to partially offset inflationary pressures, supporting margins. Moreover, PUMP is bullish about its PROPWR orders.
What Does Our Model Predict for PUMP?The proven Zacks model does not conclusively predict an earnings beat for PUMP this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
PUMP’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -3.45%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
PUMP’s Zacks Rank: PUMP currently carries a Zacks Rank #3.
Stocks With the Favorable CombinationHere are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
The Williams Companies, Inc. (WMB - Free Report) has an Earnings ESP of +1.56% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
WMB is scheduled to release earnings on May 04. Notably, the Zacks Consensus Estimate for 2026 earnings indicates 14.8% year-over-year growth. Valued at around $88.2 billion, WMB’s shares have gained 20% in a year.
Viper Energy, Inc. (VNOM - Free Report) has an Earnings ESP of +1.24% and a Zacks Rank #2 at present. It is slated to release earnings on May 04.
The Zacks Consensus Estimate for VNOM’s 2026 earnings indicates 65.3% year-over-year growth. Valued at around $17 billion, VNOM’s shares have gained 13.5% in a year.
Diamondback Energy, Inc. (FANG - Free Report) has an Earnings ESP of +0.64% and a Zacks Rank #2 at present. It is slated to release earnings on May 04.
The Zacks Consensus Estimate for FANG’s 2026 earnings indicates 24.5% year-over-year growth. Valued at around $54.8 billion, FANG’s shares have rallied 42.5% in a year.
Agreement Enables Acquisition of Up to 2.1 Gigawatts of Incremental Power Generation Capacity by 2031
, /PRNewswire/ -- ProPetro Holding Corp. (NYSE: PUMP) ("ProPetro") today announced that its PROPWR business unit has entered into a strategic framework agreement with Caterpillar Inc. (NYSE: CAT) to purchase up to 2.1 gigawatts of power generation assets to support the growing energy demands of data center, oil and gas and industrial customers with efficient, reliable solutions.
PROPWR and Caterpillar to deliver scalable power to customers. (Courtesy: PROPWR) "We are pleased to build upon the strong momentum PROPWR has established since its inception. This agreement marks a major milestone in the expansion of our strategic collaboration with Caterpillar, reinforcing our position as a leader in high-efficiency power-as-a-service solutions," said Travis Simmering, president of PROPWR.
"By leveraging the global reputation of the Caterpillar brand and the proven success of our historical collaboration, we are poised to enhance reliability, drive operational excellence, and deliver exceptional value to our customers," said Sam Sledge, ProPetro's chief executive officer. "This collaboration will be a key enabler in achieving PROPWR's long-term objectives and sustaining our rapid growth trajectory."
Under this agreement, PROPWR agrees to purchase at least 1.5 GW of incremental power generation assets, with the option to bring the total to approximately 2.1 GW of additional power generation capacity over the next five years. When combined with the approximately 550 megawatts previously ordered, PROPWR is positioned to have approximately 2.6 GW of power generation capacity delivered by year-end 2031 and fully deployed in 2032.
"This agreement reflects the strength of our long-standing collaboration with ProPetro and a shared focus on helping customers meet growing power needs with reliable, scalable solutions," said Tara Rossman, senior vice president of Caterpillar Oil & Gas and Marine. "As demand from data centers and other energy intensive applications continue to accelerate, Caterpillar is committed to supporting PROPWR with proven power generation technologies and the global scale needed to execute over the long term."
Caterpillar Media Contact: Tiffany Heikkila, [email protected], 832-573-0958
About ProPetro
ProPetro Holding Corp. is a Midland, Texas based provider of premium completion services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. Through its PROPWR division, ProPetro also delivers reliable, adaptable power services through a modern, standardized fleet of gas-to-power solutions, serving data center, oil and gas, and industrial customers in the United States. ProPetro helps bring reliable energy to the world, enabling operational excellence and energy reliability for their customers. For more information, visit www.propetroservices.com.
About Caterpillar
For more than a century, Caterpillar has built a better, more sustainable world. With 2025 sales and revenues of $67.6 billion, Caterpillar Inc. is shaping the future as the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Backed by one of the largest independent global dealer networks and financing services through Cat Financial, the company's primary business segments: Power & Energy, Construction Industries and Resource Industries are solving customers' toughest challenges through commercial excellence and advanced technology, driven by a highly skilled, dedicated global team. Learn more at www.caterpillar.com.
ProPetro Holding (PUMP - Free Report) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +74.14%. A quarter ago, it was expected that this oilfield services company would post a loss of $0.13 per share when it actually produced earnings of $0.01, delivering a surprise of +107.69%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
ProPetro, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $270.69 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.14%. This compares to year-ago revenues of $359.42 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
ProPetro shares have added about 91.4% since the beginning of the year versus the S&P 500's gain of 4.2%.
What's Next for ProPetro?While ProPetro has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for ProPetro was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.05 on $297.72 million in revenues for the coming quarter and -$0.13 on $1.19 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Kinetik Holdings Inc. (KNTK - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +20%. The consensus EPS estimate for the quarter has been revised 20.4% higher over the last 30 days to the current level.
Kinetik Holdings Inc.'s revenues are expected to be $413.07 million, down 6.8% from the year-ago quarter.
Key Takeaways PUMP reports narrower Q1 loss and slight revenue beat, aided by cost control and Wireline strength.Revenues fell 24.5% year over year due to weaker Hydraulic Fracturing and Cementing activity.ProPetro raises 2026 capex outlook, driven by increased PROPWR investments and Caterpillar deal. ProPetro Holding Corp. (PUMP - Free Report) reported first-quarter 2026 adjusted loss per share of 3 cents, narrower than the Zacks Consensus Estimate of a loss of 12 cents. This performance was primarily backed by disciplined cost management. However, the bottom line declined from the year-ago quarter’s reported figure of 9 cents profit. This underperformance could be primarily attributed to weak pricing and reduced activity in the reported quarter.
Revenues of $271 million marginally beat the consensus mark of $270 million. This outperformance can be attributed to $2.2 million in revenues generated by the Power Generation segment, along with stronger-than-expected service revenues in the Wireline segment, which totaled $61.8 million — 12% above the consensus estimate. However, the top line decreased 24.5% from the year-ago quarter’s level of $359 million. This was due to a year-over-year decline in service revenues from the Hydraulic Fracturing and Cementing segment.
Adjusted EBITDA totaled $36 million, down 29% from $51 million in the prior quarter. The metric represented 13% of revenues. The decline was primarily caused by lower revenues resulting from weather-related activity disruptions.
PUMP’s Business Reporting SegmentsProPetro conducts its business through four operating segments: Hydraulic Fracturing, Wireline, Cementing and Power Generation.
The hydraulic fracturing operations account for approximately 66% of the company’s total revenues and operations. During the first quarter, Service revenues from this unit decreased 12% to $179.3 million from the previous quarter’s level. Moreover, the figure missed our estimate of $198.4 million.
Wireline revenues totaled $61.8 million, up 11.5% from the previous quarter. Cementing revenues totaled $27.8 million, down 5.9% sequentially. Wireline revenues beat our estimate of $45.1 million, while cementing revenues came in slightly below our projection of $27.9 million.
Meanwhile, power generation revenues came in at $2.2 million, surging 60.2% from the prior quarter. Moreover, the figure beat our estimate of $0.7 million.
Adjusted EBITDA from hydraulic fracturing was $37 million, down 29.9% from the previous quarter, while wireline and cementing reported adjusted EBITDA of $13.7 million and $2.1 million, declining 10.6% and 42.8% sequentially, respectively. The power generation business posted an adjusted EBITDA loss of $5.3 million as PROPWR continues to scale.
PUMP’s Costs & Financial PositionTotal costs and expenses were $211.7 million for the first quarter, which was down 20.3% from the prior-year quarter’s level. The cost of services (exclusive of depreciation and amortization) was $211.7 million compared with $263.9 million in the prior-year quarter. On the other hand, depreciation and amortization were reduced 16.6% to $40.6 million from the prior-year quarter's level.
Capital expenditures paid were $43 million, while capital expenditures incurred totaled $85 million. Of the incurred capital expenditures, approximately $14 million supported maintenance in the completions business, while around $71 million supported PROPWR orders.
As of March 31, 2026, ProPetro had $156.6 million in cash and cash equivalents. Borrowings under the financing agreement with Caterpillar Financial Services Corporation were $112 million. Total liquidity was $289 million, including cash and $132 million of available borrowing capacity under the ABL Credit Facility. Long-term debt amounted to $78.6 million. The total debt-to-total capital was 7.4%.
Net cash provided by operating activities was $3 million, down from $81 million in the prior quarter. The decline was mainly due to lower adjusted EBITDA and working capital headwinds, which consumed approximately $32 million in cash during the quarter.
PUMP’s Q2 & 2026 GuidanceFor 2026, ProPetro now expects capital expenditures incurred to be in the range of $540-$610 million, up from the previous outlook of $390-$435 million. ProPetro’s completions business is expected to account for $140-$160 million, including $40-$50 million related to planned lease buyouts for a portion of its FORCE electric fleet portfolio.
The company anticipates PROPWR capital expenditures of approximately $400-$450 million in 2026. The increase is primarily tied to down payments for future deliveries associated with the Caterpillar framework agreement. However, these estimates do not reflect the impact of financing arrangements, which are expected to reduce near-term cash outflows.
For the second quarter, ProPetro expects to operate approximately 12 active frac fleets, reflecting early signs of recovery and heightened activity in the Permian completions market. Management noted that the strengthening commodity environment is beginning to support improved pricing and demand across the completions business.
PUMP’s OutlookProPetro expects PROPWR to begin delivering positive and increasingly meaningful earnings in the second half of 2026 as deployments scale across contracted customers. Management also cited improving completions market conditions, supported by a stronger commodity backdrop and tightening frac equipment supply. The company remains focused on disciplined execution, capital efficiency and maintaining a strong balance sheet while funding PROPWR’s growth. PUMP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PROPWR Gains MomentumThe company made notable progress in its PROPWR business during the quarter. ProPetro entered into a strategic framework agreement with Caterpillar Inc., securing access to up to approximately 2.1 gigawatts of additional power generation capacity over the next five years. Including approximately 550 megawatts previously ordered, PROPWR is positioned to have roughly 2.6 gigawatts of power generation capacity delivered by year-end 2031 and fully deployed in 2032.
The company also reported major advancements representing several hundred megawatts of high-potential data center opportunities in a select portion of its commercial pipeline. Additionally, ProPetro is in advanced contract negotiations for approximately 100 megawatts to support oil and gas microgrid projects, with deployments expected later this year.
Management stated that PROPWR currently has approximately 240 megawatts committed under contract and expects to secure additional contracts throughout 2026, with future megawatts likely concentrated in data center and industrial applications.
Important Earnings at a GlanceWhile we have discussed PUMP’s first-quarter results in detail, let us take a look at three other key reports in this space.
Houston, TX-based oil and gas equipment and services provider, Halliburton Company (HAL - Free Report) , posted first-quarter 2026 adjusted net income per share of 55 cents, beating the Zacks Consensus Estimate of 49 cents. The outperformance primarily reflects successful cost reduction initiatives. However, the bottom line fell from the year-ago adjusted profit of 60 cents.
Halliburton reported first-quarter capital expenditure of $192 million. As of March 31, 2026, this Houston, TX-based oil and gas equipment and services company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization ratio of 39.6.
Houston, TX-based oil and gas storage and transportation company, Kinder Morgan Inc. (KMI - Free Report) , posted first-quarter 2026 adjusted earnings per share of 48 cents, which beat the Zacks Consensus Estimate of 38 cents. The bottom line increased year over year from 34 cents. The strong quarterly results can be primarily attributed to contributions from the Natural Gas Pipelines business segment.
As of March 31, 2026, KMI reported $72 million in cash and cash equivalents. At the quarter's end, its long-term debt amounted to $29.72 billion. KMI’s project backlog was reported at $10.1 billion by the end of the first quarter. The midstream energy major added that natural gas projects comprise approximately 92% of its project backlog, with nearly 60% dedicated to supporting local distribution companies and power generation.
Fort Worth, TX-based oil and gas exploration and production company, Range Resources Corporation (RRC - Free Report) , posted first-quarter 2026 adjusted earnings of $1.52 per share, which beat the Zacks Consensus Estimate of $1.33. The bottom line also improved from the prior-year level of 96 cents. Strong quarterly results can be attributed to higher gas-equivalent production and increased natural gas price realization.
Drilling and completion expenditure totaled $130 million. An additional $5 million was spent on acreage and $4 million on infrastructure and other investments. At the end of the first quarter, Range Resources reported a total debt of $819.3 million, net of deferred financing costs.
