ProFrac Holding Corp. reported a total revenue of $600.3 million for the first quarter of 2025, reflecting an increase of $18.8 million compared to $581.5 million in the same period of 2024. The company's net loss attributable to ProFrac Holding Corp. was $17.5 million, a decline of $19.3 million from a net income of $1.8 million in the prior year. Operating cash flow decreased to $38.7 million from $79.1 million year-over-year, primarily due to lower earnings and changes in working capital. The total principal amount of long-term debt rose to $1,154.4 million, an increase of $15.5 million from the end of 2024.
In terms of operational performance, ProFrac's Stimulation Services segment generated $524.5 million in revenue, up from $517.3 million in the previous year, driven by an increase in active fleets and higher utilization rates. However, the Proppant Production segment saw a revenue decline of 13%, totaling $67.3 million, attributed to lower pricing despite increased sales volumes. The Manufacturing segment experienced significant growth, with revenues rising 51% to $65.8 million, bolstered by intercompany demand and contributions from recent acquisitions.
ProFrac's strategic developments included the acquisition of Basin Production and Completion LLC and Advanced Stimulation Technologies, which have been integrated into its Manufacturing and Stimulation Services segments, respectively. The company also launched Livewire Power, LLC, aimed at providing onsite power generation services. As of March 31, 2025, ProFrac had 160,178,432 shares of Class A common stock outstanding, maintaining a stable share count from the previous quarter.
Looking ahead, ProFrac anticipates challenges due to declining oil and natural gas prices, which have led some customers to reduce capital expenditures. The company expects its consolidated results to decline in the second quarter of 2025 compared to the first quarter. ProFrac is closely monitoring inflation and tariff impacts on its operations, while also evaluating potential capital expenditure reductions to align with market conditions. The company remains committed to funding its capital program through operational cash flows and available credit facilities.
About ProFrac Holding Corp.
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