ProFrac: Resetting In 2024 [Seeking Alpha]
ProFrac Holding Corp. - Class A (ACDC)
Company Research
Source: Seeking Alpha
and the company's exposure to private operators, gas plays and the spot market. ProFrac plans to increase utilization levels in 2024 but this will come at the expense of pricing. An IPO of the proppant segment also appears likely, but this can be used to reduce debt and interest payments. Improved cash flows and a stronger balance sheet should be supportive of the stock price, but macro conditions remain a risk. ProFrac's ( NASDAQ: ACDC ) fourth quarter results were soft, with revenue down significantly YoY and margins continued to drop. This was not particularly surprising given the normalization of US onshore activity in 2023 and ProFrac's elevated exposure to gas plays, private operators and the spot market. My view of ProFrac hasn't changed significantly since I last wrote about the company , but recent moves by management provide more clarity regarding the road ahead. ProFrac plans on increasing utilization levels in 2024 but this will come at the expense of pricing. An
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News
- ProFrac Holding Corp. Announces First Quarter 2024 Earnings Release and Conference Call SchedulePR Newswire
- ProFrac Holding Corp. (NASDAQ: ACDC) had its price target raised by analysts at Bank of America Co. from $8.50 to $9.50. They now have a "neutral" rating on the stock.MarketBeat
- Flotek Industries, Inc. (NYSE:FTK) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- ProFrac Holding Corp. Reports 2023 Full Year and Fourth Quarter Financial and Operational ResultsPR Newswire
- ProFrac Holding Corp. Announces 2023 Fourth Quarter and Full Year Earnings Release and Conference Call Schedule [Yahoo! Finance]Yahoo! Finance
ACDC
Analyst Actions
- 3/14/24 - Stifel
ACDC
Sec Filings
- 4/19/24 - Form ARS
- 4/19/24 - Form DEFA14A
- 4/19/24 - Form DEF
- ACDC's page on the SEC website