ProFrac Holding Corp. (ACDC), an industrial sand miner, reported Thursday that its first-quarter net income attributable to Class A common shareholders was $0.6 million, sharply lower than last year's $22 million.
Total adjusted EBITDA declined to $159.7 million from $247.1 million a year ago.
Total revenues also dropped to $581.5 million from prior year's $857.5 million. Total revenue, however, grew approximately 19% sequentially.
Looking ahead, the company expects pricing to remain steady in the Stimulation Services segment.
In the Proppant Production segment, volumes and profitability are expected to improve.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.