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What to expect from ProFrac's (ACDC) Q3 earnings
ProFrac, a hydraulic fracturing services provider, is scheduled to report its third-quarter earnings this Thursday before the market opens. Analysts expect revenue to grow 33.1% year on year, after a 29.9% decline in the same quarter last year. Estimates were generally unchanged over the past 30 days.
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What happened
ProFrac, a hydraulic fracturing services provider, is scheduled to report its third-quarter earnings this Thursday before the market opens. Analysts expect revenue to grow 33.1% year on year, after a 29.9% decline in the same quarter last year. Estimates were generally unchanged over the past 30 days.
Confirmed
Global impact / market context
The revenue forecast points to a possible return to growth, which could support sales expectations for ProFrac’s fracturing services. But the company has missed revenue estimates multiple times in two years, and last quarter’s earnings per share, or profit per share, fell short of analysts’ expectations.
Analyst inference
Two oilfield services peers have already reported quarterly revenue growth: ProPetro rose 20.9% and TETRA Technologies rose 9.6%, both above analysts’ expectations. Their results offer a limited comparison, but do not establish how ProFrac’s own revenue or profit will turn out.
Confirmed
What to watch
- Compare ProFrac’s reported revenue with the 33.1% year-on-year growth analysts expect; a shortfall could weaken the case that sales have returned to growth. Analyst inference
- Check whether profit per share meets expectations, since ProFrac missed analysts’ estimate last quarter even while beating its revenue and EBITDA forecasts. Analyst inference
- Assess management’s explanation for results against the recent peer reports, while treating ProPetro’s and TETRA’s growth as context rather than a guarantee for ProFrac. Analyst inference