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ProPetro (PUMP) investor relations material
ProPetro Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue was $294 million, down 10% sequentially and 18.6% year-over-year, with net loss narrowing to $2 million ($0.02/share) from $7 million in Q2; Adjusted EBITDA was $35 million (12% margin), down from prior periods.
Free cash flow for completions was $25 million in Q3, with a focus on capital-light investments, cost reductions, and flexible CapEx to sustain cash flow and support PROPWR growth.
PROPWR segment achieved major milestones, including first field deployments, entry into the data center power market with a 60 MW contract, and expanded contracted capacity to over 150 MW, targeting 220 MW by year-end.
Maintained strong balance sheet and liquidity, with $67 million in cash and $158 million total liquidity at quarter-end, including $91 million available under the ABL facility.
Over $1 billion invested since 2022 in asset refresh, technology, and service diversification, including targeted M&A.
Financial highlights
Q3 2025 revenue was $294 million; Adjusted EBITDA was $35 million (12% margin); net loss was $2 million ($0.02/share); free cash flow for completions was $25 million; operating cash flow was $42 million; investing cash outflow was $43 million.
Capital expenditures paid in Q3 were $44 million; incurred CapEx was $98 million, with $79 million for PROPWR.
Cash at quarter-end was $67 million; total liquidity $158 million including $91 million under ABL facility.
Year-to-date 2025 revenue reached $326 million, Adjusted EBITDA $50 million, and free cash flow for completions $26 million.
Share repurchase program retired 13 million shares (11% of outstanding) since inception, with $89 million remaining authorized.
Outlook and guidance
2025 capital expenditures expected at $270–$290 million, with $80–$100 million for completions and ~$190 million for PROPWR; 2026 PROPWR CapEx projected at $200–$250 million.
PROPWR targeting installed capacity of 1 gigawatt or greater by 2030, with at least 220 MW contracted by year-end 2025.
Annualized PROPWR EBITDA projected to grow from $75–$90 million in 2026 to $265–$280 million by 2030.
Expectation to maintain 10–11 active frac fleets in Q4 2025, with sequential improvement in PROPWR segment margins.
Share repurchase program extended through 2026, with $89 million remaining authorized.
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