Shares of ProFrac Holding Corp. (NASDAQ: ACDC) surged 7.03% in pre-market trading on Thursday, following the company's release of its full-year 2024 and fourth-quarter results. The stock movement suggests investor optimism surrounding ProFrac's positive outlook and expected recovery in the first quarter of 2025.
ProFrac reported weaker financial performance in 2024, with a net loss of $208 million compared to a net loss of $59 million in 2023. Adjusted EBITDA declined to $501 million from $688 million in 2023, while revenue fell to $2.19 billion from $2.63 billion. The fourth quarter was particularly challenging, with net loss widening to $102 million from $44 million in the third quarter, and adjusted EBITDA dropping to $71 million from $135 million.
However, the company expressed confidence in a rebound, driven by increased activity and pricing stabilization in its Stimulation Services and Proppant Production segments. According to Executive Chairman Matt Wilks, "With an expected flattish to modestly improving market for hydraulic fracturing, we anticipate setting new operating efficiency records over the balance of 2025, demonstrating our commitment to delivering leading-edge performance and minimizing non-productive time." The company added that it expects a "sizable improvement in revenues and profitability in the first quarter 2025 relative to the fourth quarter 2024."