ProFrac Holding Corp. reported its financial results for the second quarter of 2026, revealing total revenues of $498.1 million, a slight decrease from $501.9 million in the same period of 2025. For the first half of 2026, revenues totaled $947.7 million, down from $1.1 billion year-over-year. The company experienced a net loss attributable to shareholders of $79.7 million for the quarter, compared to a loss of $108.0 million in the prior year, while the six-month net loss increased to $163.2 million from $125.5 million. The decline in revenue was attributed to lower average pricing and a decrease in active fleets in the Stimulation Services segment, which saw a 1% drop in revenue for the quarter and a 13% decline for the first half.
In terms of operational metrics, ProFrac's cash provided by operating activities was $32.2 million for the first half of 2026, a significant decrease from $135.4 million in the same period of 2025. The company’s total long-term debt rose to $1.1 billion, an increase of $54.3 million from the end of 2025. The balance sheet showed total assets of $2.5 billion, with current assets increasing to $572.1 million, driven by higher accounts receivable and inventory levels. The company also reported a headcount of 182,122,762 shares of Class A common stock outstanding as of June 30, 2026.
Strategically, ProFrac has made several significant moves, including the issuance of an additional $25 million in 2029 Senior Notes in January 2026 to fund capital expenditures. The company also amended its 2022 ABL Credit Facility in March, extending its maturity and adjusting terms to improve liquidity. On July 1, 2026, ProFrac entered into a new $300 million asset-based revolving credit facility, replacing the previous ABL Credit Facility. Additionally, the company announced a leadership change, with Matt Wilks appointed as CEO, succeeding Ladd Wilks, who will remain on the board.
Looking ahead, ProFrac anticipates increased pricing for its Stimulation Services in the third quarter of 2026, driven by rising customer demand for hydraulic fracturing equipment. The company is also focused on enhancing operational efficiency and reducing cash operating expenses. However, it remains cautious about market conditions, particularly the cyclical nature of the oil and gas industry, which is influenced by commodity prices and customer spending. ProFrac is committed to maintaining financial discipline and optimizing its asset base while monitoring inflation and other economic factors that could impact its operations.
About ProFrac Holding Corp.
ProFrac Holding Corp. provides hydraulic fracturing, proppant production, and well stimulation services to upstream oil and gas companies in North America. Its core business segments include stimulation services, proppant manufacturing, and related equipment fabrication. The company emphasizes technological innovation, vertical integration, and a diversified geographic footprint to serve major unconventional resource basins, offering advanced equipment, in-basin proppant, and environmentally conscious solutions to support energy exploration and production.
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