Stock Track | ProPetro Holding Shares Tumble on Disappointing Q3 Earnings Miss

Stock Track

Nov 02, 2024

Shares of ProPetro Holding Corp. (NYSE: PUMP) plummeted by 5.14% on Thursday, November 1st, after the oilfield services company reported weaker-than-expected results for the third quarter of 2024.

ProPetro's Q3 revenue declined by 15% year-over-year to $360.9 million, missing analysts' estimates by 1.5%. The company also reported a net loss of $137.1 million, or $1.32 per share, compared to a profit of $34.8 million, or $0.31 per share, in the same period last year.

The disappointing results weighed heavily on investor sentiment, with ProPetro's stock price dropping 11% from a week ago. The company's revenue growth forecast of 3.2% per annum for the next three years also lagged behind the industry average of 5.6%, further dampening the outlook.

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(NYSE: PUMP) plummeted by 5.14% on Thursday, November 1st, after the oilfield services company reported weaker-than-expected results for the third quarter of 2024.</p>\n\n<p>ProPetro's Q3 revenue declined by 15% year-over-year to $360.9 million, missing analysts' estimates by 1.5%. The company also reported a net loss of $137.1 million, or $1.32 per share, compared to a profit of $34.8 million, or $0.31 per share, in the same period last year.</p>\n\n<p>The disappointing results weighed heavily on investor sentiment, with ProPetro's stock price dropping 11% from a week ago. The company's revenue growth forecast of 3.2% per annum for the next three years also lagged behind the industry average of 5.6%, further dampening the outlook.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PUMP","symbol_name":"Propetro Holding Corp.","start_time":0,"source_url":"","article_id":"1114841441","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1114841441","pubTimestamp":1730489663,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of ProPetro Holding Corp.  plummeted by 5.14% on Thursday, November 1st, after the oilfield services company reported weaker-than-expected results for the third quarter of 2024.ProPetro's Q3 revenue declined by 15% year-over-year to $360.9 million, missing analysts' estimates by 1.5%. 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