ProFrac (US:ACDC)2025-11-10 11:08Financial Performance - Total revenue for Q3 2025 was $403 million, down from $502 million in Q2 2025, representing a decrease of approximately 20%[7] - Net loss for Q3 2025 was $92 million, an improvement from a net loss of $107 million in Q2 2025[7] - Adjusted EBITDA for Q3 2025 was $41 million, which is 10% of revenue, compared to $79 million or 16% of revenue in Q2 2025[7] - Total revenues for Q3 2025 were $403.1 million, a decrease from $501.9 million in the prior quarter, with stimulation services generating $342.9 million[34] - Adjusted EBITDA for the three months ended September 30, 2025, was $40.9 million, down from $78.6 million in the previous quarter[34] - Free cash flow for the three months ended September 30, 2025, was negative $29.2 million, compared to positive $54.4 million in the prior quarter[36] - The adjusted EBITDA for the nine months ended September 30, 2025, totaled $249.0 million, compared to $430.3 million for the same period in the previous year[34] Segment Performance - The Stimulation Services segment generated revenues of $343 million in Q3 2025, resulting in an Adjusted EBITDA of $20 million and a margin of 6%, down from $432 million and a margin of 12% in Q2 2025[9] - The Proppant Production segment reported revenues of $76 million in Q3 2025, with an Adjusted EBITDA of $8 million and a margin of 10%, compared to $78 million and a margin of 19% in Q2 2025[10] - The company expects fourth quarter profitability in the Proppant Production segment to improve compared to Q3 2025, driven by enhanced operational efficiency[6] - Approximately 73% of the Proppant Production segment's revenue was intercompany during Q3 2025[10] - ProFrac's proppant production segment generated revenues of $76.4 million for the three months ended September 30, 2025, compared to $77.5 million in the previous quarter[34] Financial Position - Total debt outstanding as of September 30, 2025, was $1.07 billion, with net debt of $1.04 billion[15] - The company’s total debt as of September 30, 2025, was $1,070.2 million, a slight decrease from $1,109.0 million at the end of the previous year[35] - ProFrac Holding Corp. had a total stockholders' equity of $953.9 million as of September 30, 2025, down from $1,076.1 million at the end of 2024[30] - Total assets decreased to $2,742.4 million as of September 30, 2025, down from $2,988.1 million at the end of 2024[30] - Total liabilities decreased to $1,721.1 million as of September 30, 2025, from $1,848.5 million at the end of 2024[30] Cash Flow and Expenditures - Cash flows from operating activities for Q3 2025 were $4.6 million, compared to $98.2 million in Q3 2024[32] - The company reported a net cash used in investing activities of $33.8 million for Q3 2025[32] - The Company expects capital expenditures for 2025 to be between $160 million and $190 million, a reduction of approximately $25 million from previous guidance[14] - The Company anticipates annualized cash savings of $85 to $115 million by the end of Q2 2026 through operational efficiency and cost optimization measures[4] Losses and Expenses - Operating loss for Q3 2025 was $78.8 million, compared to an operating loss of $4.3 million in Q3 2024[31] - Net loss attributable to ProFrac Holding Corp. for Q3 2025 was $100.9 million, compared to a net loss of $45.2 million in Q3 2024[31] - The company incurred $103.0 million in depreciation, depletion, and amortization for Q3 2025[32] - The company incurred $4.9 million in litigation expenses for the three months ended September 30, 2025[33]