PROPETRO HOLDING Reports Record Earnings for Q2 FY2023
August 9, 2023
🌥️Earnings Overview
On August 3, 2023, PROPETRO HOLDING ($NYSE:PUMP) announced their financial results for the second quarter of the 2023 fiscal year ending June 30, 2023. The company generated total revenue of USD 435.2 million, which was a 38.1% rise from the same period in the previous year. Net income also increased significantly, from -32.9 million to USD 39.3 million year-over-year.
Market Price
On Thursday, PROPETRO HOLDING reported record earnings for the second quarter of the fiscal year 2023. The company’s stock opened at $9.4 and closed at $9.8, up 3.3% from the prior closing price of $9.5. This marks an all-time high for PROPETRO HOLDING and is the highest closing price in the past five years. The strong performance was attributed to cost cutting measures and increased efficiency in operations, which helped the company to achieve its record earnings.
PROPETRO HOLDING also benefited from higher oil prices, as well as increased demand for its products and services. The stock market reacted positively to PROPETRO HOLDING’s earnings report, with investors expressing their enthusiasm for the company’s growth and performance. Analysts expect that PROPETRO HOLDING will continue to perform well in the coming quarters, as it has demonstrated its ability to generate strong profits and returns for its shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Propetro Holding. More…
| Total Revenues | Net Income | Net Margin |
| 1.54k | 91.06 | 11.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Propetro Holding. More…
| Operations | Investing | Financing |
| 384.13 | -429.91 | 38.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Propetro Holding. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.43k | 425.02 | 8.93 |
Key Ratios Snapshot
Some of the financial key ratios for Propetro Holding are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.4% | 16.6% | 8.0% |
| FCF Margin | ROE | ROA |
| -1.0% | 7.8% | 5.4% |
Analysis
At GoodWhale, we conducted a fundamental analysis on PROPETRO HOLDING and have come to the conclusion that it is a medium risk investment. This conclusion is based on our Risk Rating which takes into account the financial and business aspects of the company. Upon further review, we have identified two risk warnings in the income sheet and balance sheet of PROPETRO HOLDING. To view these findings in more detail, feel free to register with us for a more comprehensive review. More…
Peers
The oil and gas industry is a highly competitive marketplace. All of these companies are vying for a piece of the pie in terms of market share and revenues. ProPetro has been able to differentiate itself from the competition by offering a unique suite of services and products that have helped it to gain an edge.
– NCS Multistage Holdings Inc ($NASDAQ:NCSM)
NCS Multistage Holdings Inc a provider of engineered products and services for oil and gas well completions and interventions. The company operates in two segments, Completion Services and Products, and Well Support Services.
NCS Multistage has a market cap of $68.18M as of 2022 and a ROE of -1.49%. The company provides engineered products and services for oil and gas well completions and interventions.
– APA Corp ($NASDAQ:APA)
Daiwa House Industry Co., Ltd. is a homebuilding company in Japan. The Company is engaged in the construction of detached houses, apartments, condominiums, commercial facilities and other buildings, as well as the development of housing sites and the provision of housing-related services. As of March 31, 2014, the Company had 104 consolidated subsidiaries and four associated companies. The Company operates in three business segments. The Housing segment is engaged in the construction of detached houses, apartments and condominiums, as well as the development of housing sites. The Building segment is engaged in the construction of commercial facilities and other buildings. The Others segment is engaged in the provision of housing-related services, such as housing loans, real estate brokerage services and the sale of building materials.
– Brinx Resources Ltd ($OTCPK:BNXR)
Brinx Resources Ltd is a Canadian oil and gas company with a market cap of 676.09k as of 2022. The company has a Return on Equity of -111.9%. Brinx Resources Ltd is engaged in the exploration, development and production of oil and gas properties in Canada.
Summary
PROPETRO HOLDING saw a major improvement in its earnings results for the second quarter of its fiscal year 2023 ending June 30, 2023. The company reported a total revenue of USD 435.2 million, representing a 38.1% year-over-year increase, and its net income was USD 39.3 million, a significant improvement from its -32.9 million net income from the same period a year prior. This positive performance was reflected in the stock price, which moved up on the day of the earnings report. As such, investors may consider PROPETRO HOLDING as a good opportunity for investment, given its positive performance in the current quarter and its potential for further growth.
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