ProFrac Holding Projects FY25 Capital Expenditures Between $160M and $190M
Capital Expenditure Adjustment: The company has revised its expected capital expenditures for 2025 to a range of $160 to $190 million, down from the previous guidance of $175 to $225 million.
Financial Discipline Commitment: This reduction reflects the company's commitment to maintaining financial discipline during the current economic downturn.
Service Quality and Efficiency: The company aims to uphold service quality and operational efficiency through its asset management platform despite the reduced capital expenditures.
Mid-Point Reduction: The adjustment represents a further reduction of approximately $25 million at the mid-point of the new guidance.
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ProFrac Holding Corp. (ACDC) Announces Q3 Loss and Falls Short of Revenue Projections
Quarterly Loss Report: ProFrac Holding Corp. reported a quarterly loss of $0.6 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.43, and a significant decline from a loss of $0.13 per share a year ago.
Revenue Performance: The company generated revenues of $403.1 million for the quarter, missing the consensus estimate by 0.58% and down from $575.3 million in the same quarter last year.
Stock Outlook: ProFrac's stock has underperformed, losing about 35.2% since the beginning of the year, and currently holds a Zacks Rank #5 (Strong Sell), indicating expectations of further underperformance in the near future.
Industry Context: The Oil and Gas - Field Services industry is currently ranked in the bottom 40% of Zacks industries, which may negatively impact ProFrac's stock performance, while another sector company, National Energy Services Reunited, is set to report its earnings soon.
Major Stocks Including Monday.Com, Metsera, and Profrac Holding Decline in Pre-Market Trading on Monday
U.S. Stock Futures: U.S. stock futures rose this morning, with Nasdaq futures increasing by approximately 1.5% on Monday.
Monday.Com Earnings: Shares of Monday.Com Ltd fell 2.6% in pre-market trading ahead of its quarterly earnings report, with analysts expecting earnings of 88 cents per share and revenue of $312.26 million.
Other Stocks Declining: Several stocks experienced declines in pre-market trading, including Metsera Inc, which dropped 15% after Pfizer's $10 billion acquisition deal, and Ionis Pharmaceuticals, which fell 11.5% following disappointing study results.
Market Overview: Other notable declines included Oscar Health Inc down 5.4%, Centene Corp down 4.8%, and Profrac Holding Corp down 2.8%, reflecting a generally negative trend among various stocks.
