ACDC earnings analysis
What we found in ACDC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Total revenue of $449.6 million decreased by $150.7 million, or 25%, year-over-year.
- Increased Net Loss
- Net loss increased to $83.5 million from $17.5 million in Q1 2025.
- Positive Proppant Segment Growth
- Proppant Production revenues rose by 78% year-over-year to $119.6 million.
- Higher Cash Flow from Financing Activities
- Net cash provided by financing activities grew to $35.8 million, up from $14.2 million.
- Cost Control Measures Initiated
- SG&A expenses decreased by $10.0 million, or 19%, compared to the prior year.
- Cash Position Maintained
- Liquidity position stands at $107.8 million as of March 31, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Steeper Operational Losses
- Net loss increased by $66.0 million year-over-year, indicating worsening operational efficiency.
- Negative Cash Flow from Operations
- Operating cash flow fell to $9.3 million from $38.7 million in Q1 2025.
- Increased Long-term Debt
- Long-term debt rose to $1,085.6 million, up $37.5 million from the end of 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.38
- Segment
- Stimulation Services: $407.0 million
- Segment
- Proppant Production: $119.6 million
- Segment
- Manufacturing: $48.4 million
- Segment
- Flotek: $72.3 million
- Segment
- Other: $2.9 million
What they said about what is next.
Management expects improved performance in Q2 2026 based on better operator sentiment.
The filing reads worse than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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