Income Statement ProPetro Holding Corp.

Equities

PUMP

US74347M1080

Oil Related Services and Equipment

Market Closed - Nyse Other stock markets 01:30:02 14/09/2024 am IST			5-day change	1st Jan Change
7.310 ^USD	+1.53%		-0.27%	-12.77%

01/08	Tranche Update on ProPetro Holding Corp.'s Equity Buyback Plan announced on May 17, 2023.	CI
31/07	Transcript : ProPetro Holding Corp., Q2 2024 Earnings Call, Jul 31, 2024

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Published financial data: PROPETRO HOLDING CORP.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.05B	789M	875M	1.28B	1.63B
Total Revenues	2.05B	789M	875M	1.28B	1.63B
Cost of Goods Sold, Total	1.47B	584M	662M	883M	1.13B
Gross Profit	582M	205M	212M	397M	499M
Selling General & Admin Expenses, Total	77.87M	72.59M	89.39M	103M	111M
Depreciation & Amortization - (IS)	145M	153M	133M	128M	181M
Other Operating Expenses, Total	223M	226M	223M	231M	292M
Operating Income	359M	-20.93M	-10.52M	165M	206M
Interest Expense, Total	-7.14M	-2.38M	-614K	-1.6M	-5.31M
Net Interest Expenses	-7.14M	-2.38M	-614K	-1.6M	-5.31M
Other Non Operating Income (Expenses)	-717K	-6.97M	873K	13.15M	405K
EBT, Excl. Unusual Items	351M	-30.28M	-10.26M	177M	201M
Restructuring Charges	-	-	-	-	-2.3M
Impairment of Goodwill	-	-9.4M	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-1.57M	-9.94M
Gain (Loss) On Sale Of Assets	-107M	-58.14M	-64.65M	-102M	-73.02M
Asset Writedown	-3.4M	-22.5M	-	-57.45M	-
Insurance Settlements	-	-	9.8M	10.4M	400K
Legal Settlements	-	-	-	-34.1M	-
Other Unusual Items	-27.21M	-14.18M	-3.33M	15.24M	-1.07M
EBT, Incl. Unusual Items	214M	-134M	-68.44M	7.39M	116M
Income Tax Expense	50.49M	-27.48M	-14.25M	5.36M	29.87M
Earnings From Continuing Operations	163M	-107M	-54.18M	2.03M	85.63M
Net Income to Company	163M	-107M	-54.18M	2.03M	85.63M
Net Income - (IS)	163M	-107M	-54.18M	2.03M	85.63M
Net Income to Common Incl Extra Items	163M	-107M	-54.18M	2.03M	85.63M
Net Income to Common Excl. Extra Items	163M	-107M	-54.18M	2.03M	85.63M
Per Share Items
Net EPS - Basic	1.62	-1.06	-0.53	0.02	0.76
Basic EPS - Continuing Operations	1.62	-1.06	-0.53	0.02	0.76
Basic Weighted Average Shares Outstanding	100M	101M	103M	106M	113M
Net EPS - Diluted	1.57	-1.06	-0.53	0.02	0.76
Diluted EPS - Continuing Operations	1.57	-1.06	-0.53	0.02	0.76
Diluted Weighted Average Shares Outstanding	104M	101M	103M	107M	113M
Normalized Basic EPS	2.18	-0.19	-0.06	1.05	1.11
Normalized Diluted EPS	2.11	-0.19	-0.06	1.03	1.11
Supplemental Items
EBITDA	504M	132M	123M	294M	387M
EBITA	359M	-20.93M	-10.52M	166M	212M
EBIT	359M	-20.93M	-10.52M	165M	206M
EBITDAR	508M	134M	124M	295M	395M
Effective Tax Rate - (Ratio)	23.65	20.43	20.82	72.52	25.86
Current Domestic Taxes	1.74M	221K	36K	1.14M	2.03M
Total Current Taxes	1.74M	221K	36K	1.14M	2.03M
Deferred Domestic Taxes	48.76M	-27.7M	-14.29M	4.21M	27.84M
Total Deferred Taxes	48.76M	-27.7M	-14.29M	4.21M	27.84M
Normalized Net Income	219M	-18.93M	-6.41M	111M	126M
Interest on Long-Term Debt	7.14M	2.38M	-	-	1M
Supplemental Operating Expense Items
Advertising Expense	1.2M	400K	800K	-	-
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	77.87M	72.59M	89.39M	103M	111M
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	4.1M	1.3M	900K	1.5M	7.5M
Imputed Operating Lease Interest Expense	2.3M	368K	6.99M	1.15M	3.5M
Imputed Operating Lease Depreciation	1.8M	932K	-6.09M	355K	4M
Stock-Based Comp., G&A Exp. (Total)	7.78M	9.1M	11.52M	21.88M	14.45M
Total Stock-Based Compensation	7.78M	9.1M	11.52M	21.88M	14.45M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	149M	68.77M	112M	78.86M	33.35M
Short Term Investments	-	-	-	10.28M	7.74M
Total Cash And Short Term Investments	149M	68.77M	112M	89.14M	41.1M
Accounts Receivable, Total	212M	84.24M	128M	216M	237M
Total Receivables	212M	84.24M	128M	216M	237M
Inventory	2.44M	2.73M	3.95M	5.03M	17.7M
Prepaid Expenses	10.82M	11.2M	6.75M	8.64M	14.64M
Restricted Cash	-	-	-	10M	-
Other Current Assets, Total	1.12M	782K	297K	38K	353K
Total Current Assets	376M	168M	251M	329M	311M
Gross Property Plant And Equipment	1.38B	1.29B	1.3B	1.46B	1.75B
Accumulated Depreciation	-330M	-411M	-490M	-531M	-657M
Net Property Plant And Equipment	1.05B	881M	809M	926M	1.09B
Goodwill	9.42M	-	-	23.62M	23.62M
Other Intangibles, Total	0	-	-	56.34M	50.62M
Other Long-Term Assets, Total	2.57M	1.83M	1.27M	1.15M	2.12M
Total Assets	1.44B	1.05B	1.06B	1.34B	1.48B
Liabilities
Accounts Payable, Total	193M	79.15M	153M	234M	161M
Accrued Expenses, Total	18.43M	11.19M	6.82M	14.65M	15.51M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	3.13M	334K	369K	854K	34.09M
Current Income Taxes Payable	18.3M	-	-	-	-
Unearned Revenue Current, Total	-	-	-	10M	19.19M
Other Current Liabilities	-	13.48M	13.95M	24.37M	40.92M
Total Current Liabilities	233M	104M	174M	284M	271M
Long-Term Debt	130M	-	-	30M	45M
Long-Term Leases	799K	465K	97K	2.31M	69.49M
Deferred Tax Liability Non Current	103M	75.34M	61.05M	65.26M	93.1M
Other Non Current Liabilities	-	-	-	-	3.18M
Total Liabilities	467M	180M	235M	382M	482M
Preferred Stock Convertible	-	-	-	-	-
Preferred Stock - Others	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	101K	101K	103K	114K	109K
Additional Paid In Capital	827M	835M	845M	971M	929M
Retained Earnings	143M	35.56M	-18.63M	-16.6M	69.03M
Total Common Equity	969M	871M	826M	954M	998M
Total Equity	969M	871M	826M	954M	998M
Total Liabilities And Equity	1.44B	1.05B	1.06B	1.34B	1.48B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	101M	102M	104M	115M	108M
ECS Total Common Shares Outstanding	101M	101M	103M	115M	109M
Book Value / Share	9.63	8.63	7.99	8.33	9.12
Tangible Book Value	960M	871M	826M	874M	924M
Tangible Book Value Per Share	9.54	8.63	7.99	7.63	8.44
Total Debt	134M	799K	466K	33.16M	149M
Net Debt	-15.1M	-67.97M	-111M	-55.98M	107M
Debt Equivalent Oper. Leases	32.8M	10.4M	7.2M	12M	60M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	2.44M	2.73M	3.95M	5.03M	17.7M
Land - (BS)	10.77M	10.55M	10.55M	11.79M	14.08M
Buildings, Total	24.38M	29.31M	30.04M	34.3M	37.89M
Machinery, Total	1.33B	1.24B	1.25B	1.4B	1.55B
Full Time Employees	2.2K	1.1K	1.5K	2K	2.07K
Accumulated Allowance for Doubtful Accounts (Supple)	1.05M	1.5M	217K	419K	236K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	163M	-107M	-54.18M	2.03M	85.63M
Depreciation & Amortization - CF	146M	154M	134M	127M	175M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	1M	5.7M
Depreciation & Amortization, Total	146M	154M	134M	128M	181M
Amortization of Deferred Charges, Total - (CF)	542K	543K	542K	785K	359K
(Gain) Loss From Sale Of Asset	107M	58.14M	64.65M	102M	73.02M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	1.57M	2.54M
Asset Writedown & Restructuring Costs	3.4M	38M	-	57.45M	-
Stock-Based Compensation (CF)	7.78M	9.1M	11.52M	21.88M	14.45M
Provision and Write-off of Bad Debts	949K	448K	282K	202K	34K
Other Operating Activities, Total	48.46M	-28M	-14.59M	1.54M	27.84M
Change In Accounts Receivable	-10.18M	127M	-43.74M	-66.9M	-12.41M
Change In Inventories	3.92M	-293K	-1.22M	124K	-6.02M
Change In Accounts Payable	-25.24M	-95.7M	51.76M	27.43M	-11.43M
Change in Other Net Operating Assets	10.24M	-17.18M	6.02M	24.05M	19.84M
Cash from Operations	455M	139M	155M	300M	375M
Capital Expenditure	-503M	-101M	-144M	-320M	-371M
Sale of Property, Plant, and Equipment	7.6M	6.39M	39.23M	8.58M	8.96M
Cash Acquisitions	-	-	-	-38.64M	-22.22M
Cash from Investing	-495M	-94.22M	-104M	-350M	-384M
Long-Term Debt Issued, Total	110M	6.82M	-	30M	30M
Total Debt Issued	110M	6.82M	-	30M	30M
Long-Term Debt Repaid, Total	-50.27M	-131M	-5.47M	-	-19.66M
Total Debt Repaid	-50.27M	-131M	-5.47M	-	-19.66M
Issuance of Common Stock	1.16M	-	4.02M	963K	-
Repurchase of Common Stock	-	-614K	-5.82M	-3.88M	-55.28M
Issuance of Preferred Stock	-	-	-	-	-
Other Financing Activities, Total	-4.55M	-	-	-824K	-1.18M
Cash from Financing	56.34M	-125M	-7.28M	26.26M	-46.12M
Net Change in Cash	16.34M	-80.26M	43.15M	-23.06M	-55.51M
Supplemental Items
Cash Interest Paid	6.43M	2.21M	72K	467K	4.56M
Cash Income Tax Paid (Refund)	1.02M	1.79M	196K	129K	1.11M
Levered Free Cash Flow	-262M	49.66M	24.65M	-57.08M	-126M
Unlevered Free Cash Flow	-258M	50.6M	24.49M	-56.86M	-123M
Change In Net Working Capital	133M	-1.6M	-29.4M	-9.42M	76.34M
Net Debt Issued / Repaid	59.73M	-125M	-5.47M	30M	10.34M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	16.55	-1.05	-0.62	8.63	9.16
Return on Total Capital	22.76	-1.32	-0.77	11.4	12.08
Return On Equity %	18.45	-11.63	-6.39	0.23	8.77
Return on Common Equity	18.45	-11.63	-6.39	0.23	8.77
Margin Analysis
Gross Profit Margin %	28.36	25.97	24.27	31.01	30.58
SG&A Margin	3.79	9.2	10.22	8.07	6.83
EBITDA Margin %	24.56	16.77	14.05	22.94	23.75
EBITA Margin %	17.48	-2.65	-1.2	13.01	13
EBIT Margin %	17.48	-2.65	-1.2	12.93	12.66
Income From Continuing Operations Margin %	7.94	-13.56	-6.2	0.16	5.25
Net Income Margin %	7.94	-13.56	-6.2	0.16	5.25
Net Avail. For Common Margin %	7.94	-13.56	-6.2	0.16	5.25
Normalized Net Income Margin	10.69	-2.4	-0.73	8.65	7.72
Levered Free Cash Flow Margin	-12.77	6.29	2.82	-4.46	-7.72
Unlevered Free Cash Flow Margin	-12.58	6.41	2.8	-4.44	-7.54
Asset Turnover
Asset Turnover	1.51	0.63	0.83	1.07	1.16
Fixed Assets Turnover	2.09	0.82	1.03	1.48	1.62
Receivables Turnover (Average Receivables)	9.89	5.32	8.23	7.44	7.2
Inventory Turnover (Average Inventory)	334.59	226.25	198.34	196.55	99.55
Short Term Liquidity
Current Ratio	1.61	1.61	1.44	1.16	1.15
Quick Ratio	1.55	1.47	1.38	1.07	1.03
Operating Cash Flow to Current Liabilities	1.95	1.34	0.89	1.06	1.38
Days Sales Outstanding (Average Receivables)	36.92	68.73	44.32	49.07	50.7
Days Outstanding Inventory (Average Inventory)	1.09	1.62	1.84	1.86	3.67
Average Days Payable Outstanding	50.72	85.23	63.76	79.89	63.11
Cash Conversion Cycle (Average Days)	-12.71	-14.88	-17.6	-28.97	-8.74
Long Term Solvency
Total Debt/Equity	13.82	0.09	0.06	3.48	14.88
Total Debt / Total Capital	12.14	0.09	0.06	3.36	12.95
LT Debt/Equity	13.49	0.05	0.01	3.39	11.47
Long-Term Debt / Total Capital	11.86	0.05	0.01	3.27	9.98
Total Liabilities / Total Assets	32.5	17.13	22.14	28.58	32.56
EBIT / Interest Expense	50.24	-8.78	-17.14	103.1	38.87
EBITDA / Interest Expense	71.17	56.09	201.56	183.85	74.36
(EBITDA - Capex) / Interest Expense	0.74	13.87	-32.19	-15.33	4.49
Total Debt / EBITDA	0.26	0.01	0	0.11	0.38
Net Debt / EBITDA	-0.03	-0.51	-0.9	-0.19	0.27
Total Debt / (EBITDA - Capex)	25.29	0.02	-0.02	-1.35	6.23
Net Debt / (EBITDA - Capex)	-2.85	-2.06	5.64	2.28	4.51
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	20.4	-61.54	10.81	46.33	27.4
Gross Profit, 1 Yr. Growth %	34.1	-64.78	3.56	86.99	25.63
EBITDA, 1 Yr. Growth %	32.68	-73.64	-6.38	138.96	31.89
EBITA, 1 Yr. Growth %	22.83