ProFrac Q1 Revenue $450M, Net Loss $81M; Exceeds Expectations
ProFrac Holding Corp. reported Q1 2026 results, with total revenue increasing to $450 million and net loss narrowing to $81 million, exceeding expectations despite early weather disruptions. Adjusted EBITDA was $54 million, down from $61 million in the prior quarter. The company noted improving market dynamics and accelerating activity levels since late February, with record efficiency in its Stimulation Services. ProFrac is making strong progress on its business optimization program, achieving the majority of its $100 million annualized savings target. The outlook for Q2 2026 anticipates stronger Stimulation Services performance due to increased activity, though Proppant Production volumes are expected to be sequentially lower due to operational issues.
Key Highlights
- Total revenue increased to $450 million in Q1 2026 from $437 million in Q4 2025.
- Net loss narrowed to $81 million in Q1 2026 from $141 million in Q4 2025.
- Adjusted EBITDA was $54 million (12% of revenue) in Q1 2026, down from $61 million (14%) in Q4 2025.
- Net cash provided by operating activities was $9 million, a decrease from $50 million in Q4 2025.
- Stimulation Services segment generated $407 million in revenue and $32 million in Adjusted EBITDA.
- Proppant Production segment generated $120 million in revenue and $7 million in Adjusted EBITDA.
- Full-year 2026 capital expenditure guidance is maintained at $155 million to $185 million.
- Net debt stood at approximately $1.05 billion as of March 31, 2026.