ProPetro Holding Third Quarter 2024 Earnings: Misses Expectations

ProPetro Holding (NYSE:PUMP) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$360.9m (down 15% from 3Q 2023).
• Net loss: US$137.1m (down by 494% from US$34.8m profit in 3Q 2023).
• US$1.32 loss per share (down from US$0.31 profit in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

ProPetro Holding Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Energy Services industry in the US.

Performance of the American Energy Services industry.

The company's shares are down 11% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on ProPetro Holding's balance sheet.

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