Primary Vision
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • EFRACS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • EFRACS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
No Result
View All Result
Primary Vision
Home Market Trends

ProPetro Holding: Q1 TAKE THREE

Avik Chowdhury by Avik Chowdhury
May 1, 2024
in Market Trends
0

PUMP Keeps Adding to Electric Frac Spreads: In April, ProPetro (PUMP) agreed to provide ExxonMobil two FORCE electric frac spreads and its Silvertip wireline and pump down services in a long-term contract. Despite the market pressure, the company’s management expressed confidence due to the ‘operational density in the resilient Permian Basin and prudent investments in next-generation equipment.” It also expects frac spread utilization to remain steady at 14 to 15 fleets in Q2 – at par with Q1. It has also recently approved a $100 million increase to its share repurchase program. Read more about this in our recent article here.

Metrics Improved In Q1: Year-over-year, PUMP’s revenues from the Hydraulic Fracturing segment increased by 18% in Q1 2024, while its adjusted EBITDA grew by 48%. Its revenues and adjusted EBITDA from the Wireline segment increased by 21% and 49%, respectively. Improved hydraulic fracturing and wireline utilization primarily caused the topline and the EBITDA to shoot up in Q1. Effective frac fleet utilization improved to 15 in Q1 2024 compared to 12.9 in the prior quarter. The rise in utilization can be attributed to increased operational activity levels in hydraulic fracturing and wireline businesses.

PUMP’s Cash Flows And Repurchase: PUMP’s cash flow from operations increased modestly (by 2%) in Q1 2024 compared to a year ago. Its free cash flow turned positive in Q1 2024. However, its capex guidance points to significantly lower (39% down) capital expenditure in FY2024. The company’s debt-to-equity remained unchanged at 0.05x as of March 31, 2024. After repurchasing and retiring 3 million shares in Q1, its aggregate repurchase stood at 8% of the outstanding shares.

Thanks for reading the PUMP Take Three, designed to give you three critical takeaways from PUMP’s earnings report.  Soon, we will present a second update on PUMP earnings, highlighting its current strategy, news, and notes we extracted from our deeper dive.

Previous Post

Liberty Energy’s Perspective in Q1: KEY Takeaways

Next Post

Market Sentiment Tracker: Signs of Growth but Still not there

Related Posts

Liberty: Q2 TAKE THREE
Market Trends

Liberty: Q2 TAKE THREE

July 25, 2025
TechnipFMC: Q2 TAKE THREE
Market Trends

TechnipFMC: Q2 TAKE THREE

July 25, 2025
RES: Q2 TAKE THREE
Market Trends

RES: Q2 TAKE THREE

July 24, 2025
Patterson-UTI Energy: Q2 TAKE THREE
Market Trends

Patterson-UTI Energy: Q2 TAKE THREE

July 24, 2025
Baker Hughes In Q2: TAKE THREE
Market Trends

Baker Hughes In Q2: TAKE THREE

July 23, 2025
Market Sentiment Tracker: A Quiet Shift in U.S. Manufacturing? Philly Fed Suggests So
Market Trends

Market Sentiment Tracker: A Quiet Shift in U.S. Manufacturing? Philly Fed Suggests So

July 22, 2025
Next Post
Market Sentiment Tracker: Signs of Growth but Still not there

Market Sentiment Tracker: Signs of Growth but Still not there

Please login to join discussion

Recent News

Liberty: Q2 TAKE THREE

Liberty: Q2 TAKE THREE

July 25, 2025
TechnipFMC: Q2 TAKE THREE

TechnipFMC: Q2 TAKE THREE

July 25, 2025
RES: Q2 TAKE THREE

RES: Q2 TAKE THREE

July 24, 2025
Patterson-UTI Energy: Q2 TAKE THREE

Patterson-UTI Energy: Q2 TAKE THREE

July 24, 2025
Baker Hughes In Q2: TAKE THREE

Baker Hughes In Q2: TAKE THREE

July 23, 2025
Primary Vision

Established in 2011, we are renowned for our expert frac data and analytics, providing a rich array of unique indicators and industry commentary.

CONTACT

+1-713-554-4977
info@primaryvision.co

SOCIAL NETWORKS

POLICIES

Privacy Policy
Terms of Use

PARTNERS

Amazon Web Services

TRUSTED SITES

Logo

Logo

RECENT NEWS

Liberty: Q2 TAKE THREE

Liberty: Q2 TAKE THREE

July 25, 2025
TechnipFMC: Q2 TAKE THREE

TechnipFMC: Q2 TAKE THREE

July 25, 2025
RES: Q2 TAKE THREE

RES: Q2 TAKE THREE

July 24, 2025
Patterson-UTI Energy: Q2 TAKE THREE

Patterson-UTI Energy: Q2 TAKE THREE

July 24, 2025
Baker Hughes In Q2: TAKE THREE

Baker Hughes In Q2: TAKE THREE

July 23, 2025
  • HOME
  • ABOUT US
  • EFRACS
  • RESEARCH
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!

© 2025 Primary Vision. All rights reserved.

  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • EFRACS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!

© 2025 Primary Vision. All rights reserved.