ProPetro Holding Corp. (PUMP) experienced a significant pre-market plunge of 5.05% following the release of its first-quarter 2026 financial results.

The oilfield services provider reported Q1 revenue of $271 million, a 7% decline that missed analyst estimates of $276.9 million. Adjusted EBITDA fell 29% to $36 million, also below expectations. The company cited adverse weather conditions in January as the main factor, which significantly reduced utilization and profitability in its completions business.

ProPetro posted a Q1 net loss and raised its full-year 2026 capital expenditures guidance to $540-$610 million, up from previous guidance. While management noted early signs of recovery in the broader North American oilfield services sector, the disappointing quarterly results drove the stock lower in pre-market trading.