Overview

• ProPetro Q3 revenue of $294 mln beats analyst expectations despite a 10% quarterly decline

• Adjusted EBITDA for Q3 misses analyst expectations, reflecting lower revenues and fleet transition costs

• Company secures long-term contracts for PROPWR, expanding power capacity to over 150 megawatts

Outlook

• ProPetro expects full-year 2025 capital expenditures to be $270 mln to $290 mln

• Company projects PROPWR capital expenditures of $200 mln to $250 mln in 2026

• ProPetro targets 750 megawatts of PROPWR capacity by year-end 2028

Result Drivers

• LOWER UTILIZATION - Revenue decline attributed to lower utilization in hydraulic fracturing business

• PROPWR EXPANSION - Secured long-term contracts for PROPWR, expanding power capacity to over 150 megawatts

• CAPITAL MANAGEMENT - Actively managing capital expenditures and financing to support PROPWR growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil related services and equipment peer group is "buy."

• Wall Street's median 12-month price target for ProPetro Holding Corp is $6.50, about 12.3% below its October 28 closing price of $7.30

Press Release: ID:nBw8MZlJLa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)