ProFrac Holding Corp. (NASDAQ: ACDC), a leading provider of integrated oilfield services, announced robust financial and operational results for the third quarter of 2024, reflecting its commitment to operational excellence and strategic positioning amid challenging market conditions.
In the face of industry-wide headwinds, ProFrac delivered revenue of $575 million and adjusted EBITDA of $135 million, with an impressive adjusted EBITDA margin of 23%. The company's strong performance was underpinned by record-setting efficiency per active fleet, a testament to its highly skilled workforce and unwavering focus on delivering leading-edge service to customers.
Anticipating a market recovery in 2025, ProFrac is proactively investing in next-generation equipment, including electric pumps and dual fuel technologies, which are in high demand from operators seeking to reduce emissions and leverage cost efficiencies. The company is also strategically retiring 400,000 horsepower of legacy diesel-burning equipment that does not meet its reinvestment thresholds, demonstrating its commitment to sustainability and operational excellence.
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