ProFrac Holding Corp. Reports Third Quarter 2025 Results

Core Insights - ProFrac Holding Corp. reported financial results for Q3 2025, indicating a decline in revenues and profitability due to challenging market conditions, although there are signs of recovery in Q4 2025 [3][10]. Financial Performance - Total revenue for Q3 2025 was $403 million, down from $502 million in Q2 2025 [10]. - The net loss for Q3 2025 was $92 million, an improvement from a net loss of $107 million in Q2 2025 [10]. - Adjusted EBITDA for Q3 2025 was $41 million, representing 10% of revenue, compared to $79 million or 16% of revenue in Q2 2025 [10]. - Cash capital expenditures totaled $38 million in Q3 2025, down from $43 million in Q2 2025 [13]. Business Segment Performance - The Stimulation Services segment generated revenues of $343 million in Q3 2025, resulting in $20 million of Adjusted EBITDA and a margin of 6%, down from $432 million in Q2 2025 with a margin of 12% [8]. - 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 [9]. - The Manufacturing segment generated revenues of $48 million in Q3 2025, resulting in $4 million of Adjusted EBITDA and a margin of 7%, down from $56 million and a margin of 13% in Q2 2025 [11]. - Other Business Activities generated revenues of $61 million in Q3 2025, with an Adjusted EBITDA of $12 million and a margin of 20%, compared to $65 million and a margin of 12% in Q2 2025 [12]. Operational Strategy - The company is focusing on financial and operational discipline, aiming for annualized cash savings of $85 to $115 million by the end of Q2 2026 through various cost-saving measures [4][7]. - The company is prioritizing dedicated fleets and optimizing its asset base to enhance operational efficiency [7]. Outlook - The company anticipates that activity levels in the Stimulation Services segment could improve in Q4 2025, although pricing is expected to be lower on average compared to Q3 2025 [5]. - In the Proppant Production segment, profitability is expected to improve in Q4 2025 due to enhanced operational efficiency and increased throughput [6].