Hydraulic fracturing services provider ProFrac (NASDAQ:ACDC) will be announcing earnings results this Thursday before the bell. Here’s what you need to know.
ProFrac beat analysts’ revenue expectations last quarter, reporting revenues of $436.5 million, down 4% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is ProFrac a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting ProFrac’s revenue to decline 30.9% year on year, a reversal from the 3.2% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ProFrac has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at ProFrac’s peers in the oilfield services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. World Kinect delivered year-on-year revenue growth of 2.5%, beating analysts’ expectations by 10.4%, and Noble Corporation reported a revenue decline of 10.2%, topping estimates by 6.8%. World Kinect traded up 10.9% following the results while Noble Corporation was also up 8.2%.
Read our full analysis of World Kinect’s results here and Noble Corporation’s results here.
There has been positive sentiment among investors in the oilfield services segment, with share prices up 5.2% on average over the last month. ProFrac is up 28.3% during the same time and is heading into earnings with an average analyst price target of $4.52 (compared to the current share price of $7.62).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.