In this update we discuss the latest economic developments, focusing on pivotal updates from the US and Eurozone, alongside a broader perspective on global economic trends. Our analysis aims to connect the dots across various economic indicators, offering insights into the intricate dynamics shaping the global economy.

1. Monday Macro View: Latest Economic Update – Premium

This week’s economic insights underscore the delicate balance central banks must strike between fostering economic growth and controlling inflation. The ECB’s cautious stance, the US labor market’s resilience amidst rising interest burdens, and Asia’s inflationary pressures and geopolitical challenges illustrate the complex interplay of factors influencing the global economic outlook. As we move forward, the ability of policymakers to navigate these challenges will be crucial in shaping the trajectory of the global economy in the coming months.

2. ProFrac Holding: Q4 TAKE THREE – PREMIUM

Revenues And Margin Fell In Q4, But Frac Metrics Improve in 2024: Quarter-over-quarter, ProFrac Holding’s (ACDC) revenues decreased by 15% in Q4, while its adjusted EBITDA shrank by ~27%. Decreased activity levels, led by lower commodity prices, and lower pricing primarily caused the revenue and EBITDA margin to decline in Q4. Find out more in this latest article by Avik!

3. STEP Energy Services: Q4 TAKE THREE – Enterprise

In Q4 2023, STEP Energy Services (STEP) fracture operating days declined marginally in Canada but fell steeply in the USA. Its dual-fuel horsepower increased by 65% in FY2023, although the total HP deployed remained unchanged. Currently, 62% of its total HHP is dual-fuel capable, up from 37% a year ago. Read more about STEP energy in Avik’s latest article.

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