Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - Click Holdings Limited (CLIK) is up 81% at $11.17 [3] - Avidity Biosciences, Inc. (RNA) is up 43% at $70.72 [3] - Dyne Therapeutics, Inc. (DYN) is up 37% at $23.58 [3] - Zenas BioPharma, Inc. (ZBIO) is up 21% at $29.00 [3] - ProPetro Holding Corp. (PUMP) is up 18% at $7.47 [3] - PepGen Inc. (PEPG) is up 17% at $5.35 [3] - Unusual Machines, Inc. (UMAC) is up 15% at $14.85 [3] - Semler Scientific, Inc. (SMLR) is up 14% at $27.32 [3] - ETHZilla Corporation (ETHZ) is up 13% at $20.51 [3] - Relmada Therapeutics, Inc. (RLMD) is up 13% at $2.38 [3] Premarket Losers - Smart Logistics Global Limited (SLGB) is down 37% at $3.21 [4] - MaxsMaking Inc. (MAMK) is down 22% at $4.08 [4] - Prenetics Global Limited (PRE) is down 14% at $14.40 [4] - United States Antimony Corporation (UAMY) is down 14% at $10.22 [4] - NeurAxis, Inc. (NRXS) is down 12% at $3.01 [4] - Obook Holdings Inc. (OWLS) is down 9% at $11.39 [4] - Qualigen Therapeutics, Inc. (QLGN) is down 9% at $3.30 [4] - Critical Metals Corp. (CRML) is down 8% at $13.70 [4] - Neuphoria Therapeutics Inc. (NEUP) is down 8% at $5.73 [4] - Beam Therapeutics Inc. (BEAM) is down 7% at $25.86 [4]

Core Insights - ProPetro Holding Corp. (PUMP) is expected to report a loss of 11 cents per share for Q3 2025, with revenues projected at $257.8 million, reflecting a 28.6% year-over-year decline [1][9]. Group 1: Recent Performance - In Q2 2025, PUMP reported an adjusted loss of 7 cents per share, missing the Zacks Consensus Estimate of a profit of 3 cents, attributed to weak pricing and reduced activity [2]. - Revenues for Q2 2025 were $326.2 million, slightly below the consensus estimate of $327 million [2]. Group 2: Earnings Estimates and Trends - The Zacks Consensus Estimate for Q3 2025 indicates a significant year-over-year decrease of 191.7% in earnings and a 28.6% decline in revenues compared to the previous year [3][9]. - The estimated revenues from hydraulic fracturing services are expected to be $194.5 million, down from $274.1 million in the same quarter last year [5]. Group 3: Factors Influencing Performance - PUMP's revenues are anticipated to be negatively impacted due to limited activity in the second half of the year, influenced by tariffs and OPEC+ production increases [5]. - The company expects a reduction in its fleet count in Q3, which may further affect profitability [5]. - Over 50% of PUMP's hydraulic horsepower is secured under long-term contracts, which mitigates some downside risk [6][9]. Group 4: Earnings Prediction Model - The Zacks model does not predict an earnings beat for PUMP this quarter, as the Earnings ESP is +4.55%, but the Zacks Rank is 4 (Sell) [7][8].

Core Insights - U.S. stocks experienced a mostly positive session, with the Dow Jones index increasing by over 150 points on Friday [1] Company Highlights - Revolution Medicines Inc (NASDAQ:RVMD) saw a significant share price increase of 11.2%, reaching $55.25, after the FDA granted a non-transferrable voucher for its drug daraxonrasib under the National Priority Voucher pilot program [1] - Disc Medicine Inc (NASDAQ:IRON) shares surged by 25.7% to $93.50 following the receipt of a Commissioner's National Priority Voucher from the FDA for bitopertin [4] - Liberty Energy Inc (NYSE:LBRT) reported a 23.4% increase in share price to $14.73 after announcing third-quarter results [4] - Solana Co (NASDAQ:HSDT) shares rose by 19.5% to $12.08 [4] - Sealsq Corp (NASDAQ:LAES) experienced a 14.4% increase, reaching $7.28 [4] - Rekor Systems Inc (NASDAQ:REKR) shares gained 13.3% to $2.94 [4] - Praxis Precision Medicines Inc (NASDAQ:PRAX) saw a 12.5% increase to $183.00 after announcing a $525 million public offering [4] - Sify Technologies Ltd (NYSE:SIFY) shares rose by 11.8% to $13.15 [4] - Kenvue Inc (NYSE:KVUE) increased by 8.4% to $15.30 [4] - Propetro Holding Corp (NYSE:PUMP) surged by 7.6% to $5.52 [4] - Owens & Minor Inc (NYSE:OMI) shares gained 6.7% to $4.90 [4] - American Express Co (NYSE:AXP) reported a 6% increase in share price to $342.57, surpassing analyst estimates for revenue and adjusted earnings per share [4] - AppFolio Inc (NASDAQ:APPF) shares increased by 4.7% to $233.90, with an upgrade from Keybanc analyst Jason Celino from Sector Weight to Overweight and a new price target of $285 [4]

Core Viewpoint - ProPetro has announced its earnings call for the third quarter of 2025, indicating a focus on financial performance and operational updates in the oil and gas sector [1] Group 1: Company Overview - ProPetro is preparing to discuss its financial results for Q3 2025, which is crucial for stakeholders to assess the company's performance [1] Group 2: Industry Context - The announcement of the earnings call reflects ongoing developments in the oil and gas industry, where companies are increasingly focused on transparency and communication with investors [1]

Core Insights - Z4 Energy Research has been recognized for its expertise, ranking in the top 2% of financial bloggers and top 5% of overall experts as of January 2021 [1] - The company has been providing energy market insights since 2006, with a focus on oil, natural gas, wind, solar, fuel cells, and other renewables [1] - Z4 Energy Research offers a comprehensive range of services, including weekly slide shows on oil and natural gas inventory reports and daily analyses of individual companies and energy segments [1] Company Services - The company posts content six days a week and has been active in the markets since the early 1990s [1] - Z4 Energy Research provides a trading history and insights on buying and selling activities, although it does not offer direct investment advice [1] - The site is fully searchable by ticker and topic, with content available dating back to 2006 [1]

ProPetro Holding Corp (PUMP) FY Conference Summary Company Overview - ProPetro Holding Corp operates in the oil and gas services industry, specifically focusing on hydraulic fracturing and related services in the Permian Basin [1][2] - The company has reinvested over $1 billion into capital-light, efficient equipment over the past five years [3][4] Financial Performance - ProPetro reported second-quarter revenue of $326 million, with a free cash flow of $26 million [3][4] - The company has experienced a decline in revenue and EBITDA from Q1 to Q2, reflecting broader industry challenges [4][9] - Despite a drop in rig counts, ProPetro has maintained durable free cash flow, generating $67 million year-to-date in 2025 [9][20] Strategic Initiatives - ProPetro is transitioning to a fleet of capital-light, electric equipment, moving away from diesel-burning machinery [6][22] - The company plans to introduce a new service line, Pro Power, which is expected to compete with existing service lines and generate significant revenue [5][6] - Pro Power aims to address the growing demand for energy in the Permian Basin, particularly for oilfield applications and data centers [31][36] Market Position and Competitive Landscape - ProPetro is currently valued at a discount compared to peers in the energy service sector, presenting a potential investment opportunity [15][16] - The company has engaged in M&A activities, acquiring Silvertip wireline and enhancing its cementing operations, which contribute to its competitive advantage [12][13] Equipment and Technology - ProPetro has phased out capital-heavy diesel equipment in favor of more efficient gas-burning and electric equipment [22][27] - The company has established a modular approach to power generation, allowing for flexibility and efficiency in meeting customer needs [44][45] Future Outlook - ProPetro anticipates significant growth in its Pro Power segment, with plans to contract 220 megawatts of power generation capacity by the end of the year [33][36] - The company is focused on maintaining free cash flow while scaling its operations in the electric power sector [24][19] Key Takeaways - ProPetro's strategic focus on capital-light, efficient equipment positions it well for future growth in a challenging market [6][19] - The introduction of Pro Power is expected to diversify revenue streams and reduce reliance on traditional oil and gas services [31][36] - The company is committed to operational excellence and leveraging existing customer relationships to drive growth in its new power generation business [46][47]

Core Insights - ProPetro Holding Corp. (PUMP) reported a second-quarter 2025 adjusted loss per share of 7 cents, missing the Zacks Consensus Estimate of a profit of 3 cents, primarily due to weak pricing and reduced activity [1] - Revenues totaled $326.2 million, slightly below the consensus mark of $327 million, and down 8.6% from the prior-year quarter's $357 million, attributed to lower service revenues in the Cementing segment [2] - Adjusted EBITDA was $49.6 million, down 31.8% from $72.7 million in the previous quarter, and also missed the model estimate of $61.1 million [3] Revenue and Segment Performance - The Pressure Pumping segment contributed 100% to total revenues, with service revenues decreasing 8.6% to $326.2 million from the prior-year quarter, but slightly above the estimate of $325.4 million [6] - The Cementing segment's service revenues totaled $32.4 million, down 3% from the consensus estimate [2] Costs and Financial Position - Total costs and expenses were $329.3 million, down 7.9% from the prior-year quarter but exceeding the prediction of $322.2 million [7] - Cash and cash equivalents stood at $74.8 million, with total liquidity of $178 million, including $103 million in available credit [8] Capital Expenditures and Investments - The company spent $73 million on capital projects in Q2, with $43 million allocated to PROPWR equipment development [9][10] - Full-year 2025 capital expenditures are expected to be between $270 million and $310 million, indicating a reduction at the midpoint compared to previous guidance [12] Operational Outlook - The company anticipates operating 10 to 11 hydraulic fracturing fleets in Q3, down from 13 to 14 due to market conditions [10][13] - ProPetro expects to secure long-term agreements for all currently ordered PROPWR equipment (220 megawatts) by the end of 2025 [14]

[PART I – FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the quarter ended June 30, 2025, detailing balance sheets, operations, cash flows, and notes on significant financial events [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased slightly to **$1,229.1 million**, driven by higher cash, while total liabilities decreased and shareholders' equity rose Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $327,463 | $292,221 | | Cash and cash equivalents | $74,840 | $50,443 | | **Total Assets** | **$1,229,147** | **$1,223,645** | | **Total Current Liabilities** | $231,050 | $222,266 | | **Total Liabilities** | **$405,174** | **$407,372** | | **Total Shareholders' Equity** | **$823,973** | **$816,273** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported a **net loss of $7.2 million** on **$326.2 million** revenue for Q2 2025, with six-month net income significantly declining to **$2.4 million** on reduced revenues Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Service Revenue | $326,151 | $357,021 | $685,567 | $762,864 | | Operating (Loss) Income | $(3,167) | $(533) | $6,334 | $29,779 | | Net (Loss) Income | $(7,155) | $(3,660) | $2,447 | $16,270 | | Diluted EPS | $(0.07) | $(0.03) | $0.02 | $0.15 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations decreased to **$108.9 million** for H1 2025, while cash used in investing and financing activities also declined, resulting in a **$24.4 million** increase in the cash balance Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $108,903 | $179,763 | | Net cash used in investing activities | $(68,524) | $(90,923) | | Net cash used in financing activities | $(15,982) | $(55,308) | | **Net increase in cash** | **$24,397** | **$33,532** | | **Cash at end of period** | **$74,840** | **$66,886** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail key accounting policies, significant changes in estimates, new financing arrangements, segment performance, capital commitments, and related-party transactions - The company shortened the remaining useful lives of its Tier II diesel-only hydraulic fracturing units to no longer than the end of 2027, resulting in a **$1.6 million** decrease in net income for the six months ended June 30, 2025[37](index=37&type=chunk) - On April 2, 2025, the company entered into a financing arrangement for up to **$103.7 million** to support the purchase of mobile natural gas-fueled power generation equipment for its new PROPWR business line[78](index=78&type=chunk) - The company has commitments to purchase power generation equipment with a total remaining commitment of approximately **$181.6 million** (**$84.8 million** financed and **$96.8 million** with other manufacturers)[129](index=129&type=chunk) - Revenue from services provided to ExxonMobil (including its subsidiaries Pioneer and XTO) totaled **$144.2 million** for the six months ended June 30, 2025, representing approximately **21%** of total revenue[112](index=112&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's decreased revenue and profitability for Q2 and H1 2025 due to lower pricing and activity, alongside strategic investments in lower-emissions equipment and solid liquidity [Results of Operations](index=41&type=section&id=Results%20of%20Operations) Total revenue decreased by **8.6%** in Q2 2025 to **$326.2 million**, leading to a wider net loss and a **24.9%** decline in Adjusted EBITDA, with similar trends for the six-month period Q2 2025 vs Q2 2024 Performance (in thousands) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | $326,151 | $357,021 | (8.6)% | | Cost of Services | $253,173 | $265,845 | (4.8)% | | Net Loss | $(7,155) | $(3,660) | (95.5)% | | Adjusted EBITDA | $49,607 | $66,062 | (24.9)% | - The Hydraulic Fracturing segment's revenue decreased by **$25.9 million** (**9.5%**) in Q2 2025 compared to Q2 2024, driven by lower customer pricing and activity, despite a **$17.4 million** revenue contribution from the AquaProp acquisition[174](index=174&type=chunk) H1 2025 vs H1 2024 Performance (in thousands) | Metric | H1 2025 | H1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | $685,567 | $762,864 | (10.1)% | | Net Income | $2,447 | $16,270 | (85.0)% | | Adjusted EBITDA | $122,293 | $159,456 | (23.3)% | [Liquidity and Capital Resources](index=48&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, total liquidity stood at **$178.1 million**, with projected 2025 capital expenditures of **$270 million to $310 million** largely for the PROPWR business, and an extended share repurchase program - Total liquidity as of June 30, 2025, was approximately **$178.1 million**, comprising **$74.8 million** in cash and **$103.3 million** of availability under the ABL Credit Facility[204](index=204&type=chunk) - The 2025 capital expenditure budget is projected to be **$270 million to $310 million**, including approximately **$170 million** for the PROPWR business and **$100 million to $140 million** for the completion services business[208](index=208&type=chunk) - The share repurchase program was extended, permitting up to **$200 million** in repurchases through December 31, 2026 As of June 30, 2025, **$89.2 million** remained authorized, with no repurchases made during the quarter[205](index=205&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As of June 30, 2025, there were no material changes in market risk from the disclosures in the company's 2024 Form 10-K[225](index=225&type=chunk) [Controls and Procedures](index=52&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - The company's principal executive officer and principal financial officer concluded that disclosure controls and procedures were effective as of June 30, 2025[227](index=227&type=chunk) - No changes occurred during the quarter ended June 30, 2025, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[228](index=228&type=chunk) [PART II – OTHER INFORMATION](index=53&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Legal Proceedings](index=53&type=section&id=Item%201.%20Legal%20Proceedings) The company refers to Note 13 for legal matters, stating that while involved in routine claims, no pending proceedings are expected to materially adversely affect its financial position - The company is subject to routine tax audits by the Texas Comptroller and has accrued estimated settlement expenses of **$6.0 million** for motor vehicle fuel taxes and **$0.8 million** for gross receipt taxes[136](index=136&type=chunk)[137](index=137&type=chunk) [Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) A new material risk factor highlights potential adverse effects from changes in U.S. trade policy, including tariffs that could increase input costs if not passed on to customers - A new risk factor was added regarding the potential adverse effects of changes in U.S. trade policy, including tariffs on steel and other imports[233](index=233&type=chunk) - Increased tariffs could raise material input costs and asset maintenance costs, which may adversely affect returns on investment if not passed on to customers[234](index=234&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the share repurchase program, noting no repurchases in Q2 2025, with the program extended through 2026 and **$89.2 million** remaining authorized Share Repurchase Activity for Q2 2025 | Period | Total Shares Purchased | Average Price Paid | Dollar Value Remaining | | :--- | :--- | :--- | :--- | | April 2025 | 0 | $0.00 | $89,152,858 | | May 2025 | 0 | $0.00 | $89,152,858 | | June 2025 | 0 | $0.00 | $89,152,858 | | **Total** | **0** | **$0.00** | **$89,152,858** | [Other Information](index=54&type=section&id=Item%205.%20Other%20Information) During Q2 2025, no director or officer of the Company adopted, modified, or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements[240](index=240&type=chunk)

[Q2 2025 Financial and Operational Results](index=1&type=section&id=Q2%202025%20Financial%20and%20Operational%20Results) This section details ProPetro's Q2 2025 financial and operational performance, highlighting revenue decline, net loss, strategic capital allocation, and a revised outlook amidst a challenging market [Management Commentary and Market Overview](index=1&type=section&id=Management%20Commentary%20and%20Market%20Overview) Management described Q2 2025 as a challenging quarter where the company maintained stability by focusing on cost control and its capital-light strategy - The company faced a challenging quarter but maintained financial stability through a capital-light investment strategy and cost control[3](index=3&type=chunk) - The Permian Basin completions market is facing challenges, with active frac fleet counts estimated to have dropped from approximately **90-100 at the start of the year to around 70**[4](index=4&type=chunk) - ProPetro has chosen to idle certain fleets rather than operate them at sub-economic levels, preserving assets for more favorable market conditions[4](index=4&type=chunk) - The company's strengths, including low debt, strategic M&A, PROPWR growth, and the FORCE® electric fleet, provide a strong foundation to withstand market turbulence[4](index=4&type=chunk) [Second Quarter 2025 Financial Performance](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Performance) ProPetro reported a 9% sequential decrease in revenue to $326 million for Q2 2025, primarily due to lower utilization and weather impacts Q2 2025 Key Financial Metrics (vs. Q1 2025) | Metric | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | **Revenue** | $326 million | $359 million | -9% | | **Net (Loss) Income** | ($7 million) | $10 million | - | | **(Loss) Income per Diluted Share** | ($0.07) | $0.09 | - | | **Adjusted EBITDA** | $50 million | $73 million | -32% | - The decrease in revenue was largely attributed to lower utilization and adverse weather impacts across all service lines[5](index=5&type=chunk) - General and administrative (G&A) expense was flat at **$28 million** compared to the first quarter of 2025[7](index=7&type=chunk) [Capital Management and Shareholder Returns](index=2&type=section&id=Capital%20Management%20and%20Shareholder%20Returns) As of June 30, 2025, ProPetro maintained a solid liquidity position of $178 million - Total liquidity at the end of Q2 2025 was **$178 million**, consisting of **$75 million in cash** and **$103 million** available under its ABL Credit Facility[13](index=13&type=chunk) - Capital expenditures incurred were **$73 million**, with **$30 million** for completions business maintenance and **$43 million** supporting PROPWR orders[14](index=14&type=chunk) - The company extended its **$200 million** share repurchase program to December 2026, with no shares repurchased in Q2 2025 to prioritize the PROPWR business launch[10](index=10&type=chunk) [Business Segment and Strategic Updates](index=2&type=section&id=Business%20Segment%20and%20Strategic%20Updates) The company highlighted significant progress in its PROPWR power generation business, securing an inaugural 10-year contract for 80 megawatts of capacity - Secured an inaugural **10-year contract** for **80 megawatts** of PROPWR® service capacity with a Permian-focused E&P operator[6](index=6&type=chunk)[11](index=11&type=chunk) - The company has approximately **220 megawatts** of power generation equipment on order, with deliveries expected to be completed by mid-year 2026[11](index=11&type=chunk) - Management is confident it will secure long-term agreements for all **220 megawatts** of currently ordered equipment by the end of 2025[12](index=12&type=chunk) - Over **50%** of ProPetro's active hydraulic horsepower is now under long-term contracts[6](index=6&type=chunk) [Outlook and Guidance](index=3&type=section&id=Outlook%20and%20Guidance) Reflecting decreased market activity, ProPetro has lowered its full-year 2025 capital expenditure guidance to a range of $270 million to $310 million - Full-year 2025 capital expenditures guidance has been lowered to between **$270 million and $310 million**, down **9%** at the midpoint from prior guidance[16](index=16&type=chunk) - The company anticipates operating an average of **10 to 11 active hydraulic fracturing fleets** in Q3 2025, a decrease from **13 to 14 active fleets** in Q2 2025[17](index=17&type=chunk) - Management believes market cycles create opportunities and that ProPetro is well-positioned to emerge stronger due to its disciplined approach, next-generation technology, and strong balance sheet, while smaller competitors may struggle[18](index=18&type=chunk)[19](index=19&type=chunk) [Financial Statements and Reconciliations](index=5&type=section&id=Financial%20Statements%20and%20Reconciliations) This section presents ProPetro's unaudited condensed consolidated financial statements, including statements of operations, balance sheets, cash flows, and reconciliations of non-GAAP financial measures for Q2 2025 [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The unaudited statement of operations for the three months ended June 30, 2025, shows total revenues of $326.2 million and a net loss of $7.2 million Condensed Consolidated Statements of Operations (Unaudited, In thousands) | | Three Months Ended June 30, 2025 | Three Months Ended March 31, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | | **Service Revenue** | $326,151 | $359,416 | $357,021 | | **Operating (Loss) Income** | ($3,167) | $9,501 | ($533) | | **Net (Loss) Income** | ($7,155) | $9,602 | ($3,660) | | **Diluted (Loss) Income Per Share** | ($0.07) | $0.09 | ($0.03) | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, ProPetro's balance sheet shows total assets of $1.229 billion, a slight increase from $1.224 billion at year-end 2024 Condensed Consolidated Balance Sheet Highlights (Unaudited, In thousands) | | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $74,840 | $50,443 | | **Total current assets** | $327,463 | $292,221 | | **Total Assets** | $1,229,147 | $1,223,645 | | **Total current liabilities** | $231,050 | $222,266 | | **Total Liabilities** | $405,174 | $407,372 | | **Total Shareholders' Equity** | $823,973 | $816,273 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash provided by operating activities was $108.9 million, resulting in a net increase in cash and cash equivalents of $24.4 million Condensed Consolidated Statement of Cash Flows Highlights (Unaudited, In thousands, Six Months Ended June 30) | | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $108,903 | $179,763 | | **Net cash used in investing activities** | ($68,524) | ($90,923) | | **Net cash used in financing activities** | ($15,982) | ($55,308) | | **Net increase in cash and cash equivalents** | $24,397 | $33,532 | | **Cash and cash equivalents - End of period** | $74,840 | $66,886 | [Segment Information and Non-GAAP Reconciliations](index=8&type=section&id=Segment%20Information%20and%20Non-GAAP%20Reconciliations) The Hydraulic Fracturing segment remains the largest contributor to revenue, generating $245.7 million in Q2 2025, with Adjusted EBITDA of $49.6 million Q2 2025 Service Revenue by Segment (In thousands) | Segment | Service Revenue | Adjusted EBITDA | | :--- | :--- | :--- | | **Hydraulic Fracturing** | $245,741 | $51,983 | | **Wireline** | $47,995 | $7,855 | | **Cementing** | $32,443 | $4,651 | Reconciliation of Net (Loss) Income to Adjusted EBITDA (In thousands) | | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | **Net (loss) income** | ($7,155) | $9,602 | | **Adjustments** | ... | ... | | **Adjusted EBITDA** | $49,607 | $72,686 | Reconciliation to Free Cash Flow for Completions Business (In thousands) | | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | **Net Cash provided by Operating Activities** | $54,214 | $54,689 | | **Net Cash used in Investing Activities** | ($35,688) | ($32,836) | | **Free Cash Flow** | $18,526 | $21,853 | | **PROPWR Adjustments** | ... | ... | | **Free Cash Flow for Completions Business** | $26,206 | $40,681 |

Core Insights - ProPetro Holding (PUMP) reported revenue of $326.15 million for Q2 2025, reflecting an 8.7% year-over-year decline and a surprise of -0.36% compared to the Zacks Consensus Estimate of $327.33 million [1] - The company posted an EPS of -$0.07, which is a decline from -$0.03 a year ago, resulting in an EPS surprise of -333.33% against the consensus estimate of $0.03 [1] Revenue Breakdown - Hydraulic Fracturing service revenue was $245.74 million, slightly above the average estimate of $242.61 million, but down 9.5% year-over-year [4] - Wireline service revenue reached $48 million, close to the average estimate of $48.5 million, with a year-over-year decline of 2.5% [4] - Cementing revenue was reported at $32.44 million, below the average estimate of $35.42 million [4] Adjusted EBITDA Performance - Adjusted EBITDA for Wireline was $7.86 million, below the average estimate of $8.79 million [4] - Adjusted EBITDA for Hydraulic Fracturing was $51.98 million, compared to the average estimate of $57.58 million [4] - Adjusted EBITDA for Cementing was $4.65 million, below the average estimate of $6.85 million [4] Stock Performance - ProPetro's shares returned +2.1% over the past month, while the Zacks S&P 500 composite increased by +3.4% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]