ProPetro Q3 revenue rises 16%, beats analyst estimates

Overview

• US completions and power provider's Q3 revenue rose 16% sequentially, beating analyst expectations

• Q3 adjusted EBITDA increased 33% and beat analyst expectations

• Company cites higher completions utilization and PROPWR deployments for improved results

Outlook

• ProPetro expects full-year 2026 capital expenditures incurred of $525 mln to $575 mln

• Company expects 2027 PROPWR capital expenditures to increase from 2026 levels

• ProPetro expects 2027 earnings to be weighted toward the latter part of the year

Result Drivers

• COMPLETIONS UTILIZATION - Co said higher utilization in completions business drove revenue and adjusted EBITDA growth

• PROPWR DEPLOYMENTS - Co attributed incremental PROPWR deployments to improved revenue and adjusted EBITDA

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil related services and equipment peer group is "buy"

• Wall Street's median 12-month price target for ProPetro Holding Corp. is $14.75, about 95.1% above its October 27 closing price of $7.56

• The stock recently traded at 49 times the next 12-month earnings vs. a P/E of 71 three months ago

Reuters Recommended Reads

• Oct 27 - Nabors Q3 revenue beats estimates

• Oct 27 - Baker Hughes Q3 net income down by a third on Chart deal costs despite revenue, adj EPS beat

• Oct 27 - NOV Q3 revenue beats estimates on Middle East demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)