ProFrac Holding Corp. (ACDC), an industrial sand miner, on Wednesday registered a net loss for the fourth-quarter, reflecting decreased revenue, due to lower commodity prices and reduced activity.
For the three-month period, the miner posted a net loss of $97.9 million, compared with profit of$40.9 million, recorded for the same period of the previous year.
Pre-tax loss stood at $104.9 million as against profit of $112.7 million a year ago.
Operating loss was at $14.3 million, compared with profit of $125.2 million in 2022.
Excluding items, EBITDA was $109.5 million, down from $263.4 million a year ago.
Total revenue slipped to $489.1 million from the previous year's $794.1 million.
ACDC was trading down by 3.53 percent at $7.65 in the pre-market trade on the Nasdaq.
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