ProFrac Holding Corp.'s (ACDC) stock soared over 6% in premarket trading on Tuesday, following the release of its mixed third-quarter results and a cautious but optimistic outlook for 2025.

The oilfield services company reported a wider net loss of $45.2 million, or $0.36 per share, for the third quarter of 2024, compared to a loss of $18.9 million in the same period last year. However, total revenue increased slightly to $575.3 million from $574.2 million a year ago, beating analyst estimates of $553.9 million.

While ProFrac faced headwinds in the third quarter, including higher operating costs and a goodwill impairment charge, the company expressed confidence in a recovery in activity levels and pricing in 2025. In its outlook, ProFrac anticipated a decline in stimulation services and proppant production in the fourth quarter due to seasonal factors and subdued demand. However, the company expects a rebound in 2025, driven by increased requests for integrated fleet deployments, particularly for electric and natural gas-capable equipment.