ProFrac Holding Corp. reported a decline in financial performance for the second quarter of 2025, with total revenues of $501.9 million, down from $579.4 million in the same period last year. For the first half of 2025, revenues totaled $1,102.2 million, a decrease of $58.7 million compared to $1,160.9 million in the first half of 2024. The company recorded a net loss attributable to ProFrac of $105.9 million for the second quarter, an increase of $39.2 million from the previous year, and a net loss of $123.4 million for the first half, up $58.5 million from the same period in 2024. The previous year's losses included a significant goodwill impairment charge of $67.7 million.
In terms of operational changes, ProFrac's Stimulation Services segment saw a revenue drop of 15% in the second quarter, primarily due to a decrease in active fleets and lower pricing. Conversely, the Proppant Production segment experienced a 12% revenue increase in the second quarter, attributed to higher average pricing. The Manufacturing segment's revenues remained stable, while the "Other" category, which includes Flotek, reported a significant increase in revenue due to contract shortfalls. The company also disposed of its EKU Power Drives subsidiary in June 2025, resulting in a loss of $10.5 million.
ProFrac's total long-term debt stood at $1.11 billion as of June 30, 2025, a slight decrease from $1.14 billion at the end of 2024. The company generated $139.1 million in cash from operating activities during the first half of 2025, down from $192.6 million in the same period last year. The decrease in cash flow was primarily due to lower earnings, although changes in working capital contributed positively. The company reported a liquidity position of $108.3 million, including cash and available borrowings under its revolving credit facility.
Looking ahead, ProFrac anticipates continued challenges due to fluctuating oil and natural gas prices, which have led to reduced activity levels among its customers. The company expects its results in the third quarter to decline relative to the second quarter, although there is some optimism regarding increased customer engagement for 2026 planning. ProFrac is also monitoring the impacts of inflation and tariffs on its operations, with the potential effects remaining uncertain at this time. The company plans to maintain its capital expenditures between $125 million and $145 million for maintenance and an additional $50 million to $80 million for growth initiatives in 2025.
About ProFrac Holding Corp.
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