• February 25, 2021

ProPetro: 4Q Earnings Snapshot - Odessa American: State

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ProPetro: 4Q Earnings Snapshot

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Posted: Tuesday, February 23, 2021 6:19 pm | Updated: 6:46 pm, Tue Feb 23, 2021.

MIDLAND, Texas (AP) — ProPetro Holding Corp. (PUMP) on Tuesday reported a fourth-quarter loss of $44.1 million, after reporting a profit in the same period a year earlier.

The Midland, Texas-based company said it had a loss of 44 cents per share. Losses, adjusted for asset impairment costs and non-recurring costs, came to 13 cents per share.

The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.

The oilfield services company posted revenue of $154.3 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $154.7 million.

For the year, the company reported a loss of $107 million, or $1.06 per share, swinging to a loss in the period. Revenue was reported as $789.2 million.

ProPetro shares have climbed 40% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.35, a rise of 14% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PUMP at https://www.zacks.com/ap/PUMP

© 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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