PUMP earnings analysis
What we found in PUMP'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
ProPetro Holding Corp. reported Q1 2026 results with revenues of $270.7 million, a 24.7% decrease year-over-year, and an EPS loss of $0.03, surpassing estimates of a loss of $0.10. Despite a revenue downturn, the company raised its full-year capital expenditures forecast to between $540 million and $610 million, up from a previous range of $390 million to $435 million.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline of 24.7%
- Reported revenue of $270.7 million, down from $359.4 million in Q1 2025.
- Positive EPS Beat
- EPS loss of $0.03 compared to an expected loss of $0.10.
- Operating Cash Flow Decline
- Net cash provided by operating activities was $2.7 million, down from $54.7 million year-over-year.
- Significant Increase in Capital Expenditures
- Capital expenditures incurred rose to $85 million from $38.7 million a year ago.
- Power Generation Revenue Growth
- Power Generation segment recorded revenue of $2.2 million, marking its first contribution.
- Wireline Segment Growth of 15.6%
- Wireline revenue increased to $61.8 million from $53.4 million in the prior year.
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.
- Hydraulic Fracturing Segment Loss
- Hydraulic Fracturing revenues fell 33.4%, a decline of $90.1 million.
- Increasing Interest Expense
- Interest expense rose to $2.7 million, up 54% year-over-year.
- Operational Challenges from Weather
- Operational disruptions due to inclement weather affected service delivery and productivity.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.03
- Segment
- Hydraulic Fracturing: $179.3M
- Segment
- Wireline: $61.8M
- Segment
- Cementing: $27.8M
- Segment
- Power Generation: $2.2M
What they said about what is next.
Full-year capital expenditures guidance raised to $540-$610 million.
The filing reads worse than the one before it.
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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