Quarterly ResultJul 30, 2026, 07:42 AM
ProPetro Q2 Revenue $305.8M, Net Loss $8.1M; $690M Convertible Notes
AI Summary
ProPetro Holding Corp. reported a decrease in service revenue to $305.8 million for Q2 2026, alongside an increased net loss of $8.1 million compared to the same period last year. For the first six months of 2026, the company recorded a net loss of $11.8 million, a significant shift from net income in the prior year. Despite the operational losses, the company substantially strengthened its financial position by issuing $690.0 million in convertible senior notes and raising $164.3 million through a public equity offering, leading to a significant increase in cash and total assets.
Key Highlights
- Q2 2026 service revenue decreased to $305.8 million from $326.2 million YoY.
- Reported Q2 2026 net loss of $8.1 million, compared to $7.2 million loss YoY.
- Basic EPS for Q2 2026 remained at $(0.07) YoY.
- Net loss for six months ended June 30, 2026, was $11.8 million vs $2.4 million income in 2025.
- Cash and cash equivalents surged to $784.0 million from $91.3 million at year-end 2025.
- Issued $690.0 million in convertible senior notes in May 2026.
- Raised $164.3 million from a public equity offering.
- Total assets increased to $2.06 billion from $1.29 billion at year-end 2025.
Price Impact
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