ProFrac (US:ACDC)2025-05-07 10:45Financial Performance - Total revenue for Q1 2025 was $600 million, a 32% increase from $455 million in Q4 2024[5] - Adjusted EBITDA for Q1 2025 was $130 million, representing an 83% increase from $71 million in Q4 2024, and 22% of revenue compared to 16% in Q4 2024[5] - Net loss for Q1 2025 was $15 million, significantly improved from a net loss of $102 million in Q4 2024[5] - Operating income for the same period was $16.0 million, compared to a loss of $46.8 million in the previous quarter[31] - Net loss attributable to ProFrac Holding Corp. was $17.5 million for the three months ended March 31, 2025, an improvement from a loss of $105.0 million in the previous quarter[31] - Adjusted EBITDA for the three months ended March 31, 2025, was $129.5 million, up from $70.8 million in the previous quarter[33] Segment Performance - Stimulation Services segment generated revenues of $525 million in Q1 2025, with an Adjusted EBITDA margin of 20%, up from 14% in Q4 2024[8] - Proppant Production segment revenues were $67 million in Q1 2025, with an Adjusted EBITDA margin of 27%, down from 31% in Q4 2024[9] - Manufacturing segment revenues increased to $66 million in Q1 2025, with an Adjusted EBITDA margin of 6%, up from 5% in Q4 2024[10] - Stimulation services revenue increased to $524.5 million for the three months ended March 31, 2025, from $384.4 million in the previous quarter[34] Cash Flow and Debt - Free cash flow for Q1 2025 was $(14) million, a decrease from $54 million in Q4 2024[5] - Total debt outstanding as of March 31, 2025, was $1.15 billion, with net debt of $1.14 billion[14] - The total principal amount of debt as of March 31, 2025, was $1,154.4 million, compared to $1,138.9 million at the end of 2024[35] - For the three months ended March 31, 2025, net cash provided by operating activities was $38.7 million, down from $76.5 million for the same period in 2024[36] - ProFrac's free cash flow for the three months ended March 31, 2025, was negative $13.6 million, a significant decrease from positive $54.3 million in the previous quarter[36] Assets and Liabilities - Total assets increased to $3,020.9 million as of March 31, 2025, compared to $2,988.1 million as of December 31, 2024[30] - Total liabilities rose to $1,896.8 million as of March 31, 2025, compared to $1,848.5 million as of December 31, 2024[30] - The company reported a decrease in accumulated deficit to $(254.7) million as of March 31, 2025, from $(235.9) million as of December 31, 2024[30] Capital Expenditure and Investments - The Company has identified potential capital expenditure reductions of approximately $70-100 million to align with market conditions[13] - Investment in property, plant, and equipment for the three months ended March 31, 2025, was $52.5 million, compared to $63.2 million in the previous quarter[36] - Proceeds from the sale of assets for the three months ended March 31, 2025, were $0.2 million, a decrease from $41.0 million in the previous quarter[36] Future Outlook - ProFrac Holding Corp. plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[31]