Stock Track | ProPetro Soars on Q3 Earnings Beat, Defying Year-to-Date Slump

Stock Track

2024-10-30

Shares of ProPetro Holding Corp. (PUMP) surged 5.31% on Wednesday, October 30, as the oilfield services company reported better-than-expected financial results for the third quarter of 2024.

ProPetro posted earnings of $0.12 per share for Q3 2024, exceeding the Zacks Consensus Estimate of $0.03 per share. The company also reported quarterly revenue of $360.87 million, surpassing analyst expectations of $364.741 million.

The strong Q3 performance marks a positive surprise for ProPetro, which has struggled this year amid challenging market conditions. Despite the upbeat earnings report, the company's shares have lost about 10% since the beginning of 2024, underperforming the broader S&P 500 index.

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