Core Insights - ProPetro Holding Corp. (PUMP) reported a narrower adjusted net loss of 2 cents per share for Q3 2025, compared to an expected loss of 11 cents, attributed to a 44.4% year-over-year decrease in costs and expenses, although it declined from a profit of 12 cents in the same quarter last year [1][9] - Revenues reached $294 million, exceeding the consensus estimate of $258 million, driven by $157 million from the Power Generation segment and $52.2 million from the Wireline segment, which was 29.5% above expectations; however, this represented an 8.6% decrease from $361 million in the prior year [2][9] - Adjusted EBITDA was $35 million, down 29% from the previous quarter's $50 million, missing the model estimate of $44.7 million due to softer revenues and costs from fleet downsizing [3] Financial Performance - Total costs and expenses for Q3 were $300 million, down 44.4% year-over-year but above the forecast of $273.2 million [8] - The cost of services (excluding depreciation and amortization) was $236.5 million, down from $267.6 million in the prior year, while general and administrative expenses decreased to $22.5 million from $26.6 million [10] - As of September 30, 2025, PUMP had $66.5 million in cash and equivalents, $45 million in borrowings, and total liquidity of $158 million, with a debt-to-total capital ratio of 9.5% [11] Business Developments - PUMP extended its $200 million stock repurchase program by 19 months, having repurchased 13 million shares since May 2023, representing nearly 11% of total common shares outstanding [4] - The company made significant progress in its PROPWR business, securing a long-term contract for 60 megawatts to power a data center and negotiating an additional 70-megawatt contract, with total contracted capacity expected to exceed 220 megawatts by year-end [5][6] - ProPetro ordered 140 megawatts of equipment, aiming for a total capacity of 750 megawatts by 2028, with estimated costs of $1.1 million per megawatt [6] Segment Performance - The Pressure Pumping segment contributed 100% to total revenues, with service revenues decreasing 18.6% to $293.9 million from the prior year, although it exceeded the estimate of $259.2 million [7] - The company anticipates capital expenditures for 2025 to be between $270 million and $290 million, with $190 million allocated for the PROPWR business [13][14] - Operationally, ProPetro plans to run 10 to 11 hydraulic fracturing fleets through Q4 2025, expecting to maintain this level into 2026 [16]