Shares of ProPetro Holding Corp. (PUMP) surged 5.17% on Friday after the oilfield services company reported better-than-expected third quarter earnings and provided updates on its transition to cleaner fracking technologies.

For the quarter ended September 30th, ProPetro posted adjusted earnings per share of $0.12, surpassing analysts' consensus estimate of $0.03. Revenues of $360.9 million also exceeded expectations of $358 million, though they declined 14.8% year-over-year.

The earnings beat was driven by improved pricing and increased activity levels in the quarter, helping to offset a 42.7% spike in costs and expenses compared to the prior year period. ProPetro also took a $189 million non-cash impairment charge related to its older diesel fracking fleet as it shifts focus to newer electric fracturing units.