ProPetro: Q1 Earnings Snapshot
By AP News
Published - May 03, 2023, 07:27 AM ET
Last Updated - Jun 21, 2023, 11:31 PM EDT
MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — ProPetro Holding Corp. (PUMP) on Wednesday reported first-quarter net income of $28.7 million.
The Midland, Texas-based company said it had net income of 25 cents per share. Earnings, adjusted for non-recurring costs, came to 40 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The oilfield services company posted revenue of $423.6 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $410.1 million.
