10-K · March 13, 2026
ProFrac positions itself as a vertically integrated, technology-focused provider of hydraulic fracturing, proppant production, manufacturing and specialty chemistry/data (Flotek), highlighting scale with 22 active…
Earnings analysis · 10-Q
ACDC earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
ProFrac Holding Corp. reported Q1 2026 revenues of $449.6 million, down from $600.3 million in the previous year, with a net loss of $83.5 million compared to a loss of $17.5 million in Q1 2025. Operational cash flow…
Read full summary
ProFrac Holding Corp. reported Q1 2026 revenues of $449.6 million, down from $600.3 million in the previous year, with a net loss of $83.5 million compared to a loss of $17.5 million in Q1 2025. Operational cash flow was $9.3 million, reflecting a decrease from the prior year's $38.7 million. Despite weather-related challenges, management anticipates improved performance in the upcoming quarters driven by enhanced operator sentiment and pricing negotiations.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.38
What stood out
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Revenue Decline
Total revenue of $449.6 million decreased by $150.7 million, or 25%, year-over-year.
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Increased Net Loss
Net loss increased to $83.5 million from $17.5 million in Q1 2025.
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Positive Proppant Segment Growth
Proppant Production revenues rose by 78% year-over-year to $119.6 million.
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Higher Cash Flow from Financing Activities
Net cash provided by financing activities grew to $35.8 million, up from $14.2 million.
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Cost Control Measures Initiated
SG&A expenses decreased by $10.0 million, or 19%, compared to the prior year.
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Cash Position Maintained
Liquidity position stands at $107.8 million as of March 31, 2026.
What to watch
-
Steeper Operational Losses
Net loss increased by $66.0 million year-over-year, indicating worsening operational efficiency.
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Negative Cash Flow from Operations
Operating cash flow fell to $9.3 million from $38.7 million in Q1 2025.
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Increased Long-term Debt
Long-term debt rose to $1,085.6 million, up $37.5 million from the end of 2025.
Management's outlook
Management expects improved performance in Q2 2026 based on better operator sentiment.
Earlier filings 4
10-Q · May 10, 2024
ProFrac (ACDC) reported Q1 revenue of $581.5M, down from $857.5M a year earlier, with operating income of $39.9M and diluted EPS of $0.00 (vs $0.40 prior year). Operating cash flow was positive at $79.1M and implied…
10-K · March 15, 2024
ProFrac (ACDC) positions itself as a vertically integrated, technology-focused hydraulic fracturing and proppant producer, operating three segments (stimulation services, proppant production and manufacturing) and…
10-Q · August 11, 2023
ProFrac (ACDC) reported Q2 revenue of $709.2 million (up from $589.8 million a year ago) but reported a GAAP loss attributable to ProFrac Holding Corp. of $(2.9) million and GAAP loss per Class A share of $(0.02).…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.