ProFrac Holding Corporation (ACDC), an energy services company, on Friday reported a wider net loss for the fourth quarter, amidst a decline in revenue.
Commenting on the final quarter results, Matt Wilks, Executive Chairman of ProFrac, said: "Fourth quarter 2024 results reflected the impact of seasonal budget exhaustion and adverse weather, as well as pricing pressure."
For the three-month period to December 31, 2024, the company posted a net loss of $105 million, wider than a loss of $97.9 million recorded for the same period last year. Operating loss was $46.8 million as against a loss of $14.3 million in 2023.
Excluding items, EBITDA declined to $70.8 million from $109.5 million a year ago. Revenue was $454.7 million, down from $489.1 million in the previous year.
Looking ahead, for the full-year 2025, ProFrac expects to incur capital expenditures to be flat to modestly higher in the range of $250 to $300 million.
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