ProPetro Holding Corp. — Form 8-K
Filed July 29, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
ProPetro reported Q2 2026 revenue of $306M (up 13% QoQ), net loss of $8M ($0.07/share), and adjusted EBITDA of $45M (up 23% QoQ). Completions business generated $51M free cash flow despite operational headwinds (fleet deployment, weather, out-of-basin downtime). PROPWR milestone: 350MW contracted capacity (up from ~240MW), including new 110MW awards; assets now operating at data center site; strategic Caterpillar framework covers ~2.1GW additional capacity through 2031. Cash position: $784M including $690M convertible notes (0% coupon, dilution threshold $29.49/share); total liquidity $905M. Guidance lowered slightly: 2026 capex $525–$595M (vs. $540–$610M prior), completions $125–$145M (vs. $140–$160M); PROPWR $400–$450M unchanged. Activated 13th frac fleet; expects PROPWR positive EBITDA in H2 2026.
Why this rating
PROPWR growth meaningful but early-stage; completions resilient but mature. Capex guidance cut; strong balance sheet mitigates near-term dilution risk. Moderate trajectory impact relative to $513.6M market cap.
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