Why ProFrac Shares Are Down Today
Portfolio Pulse from Lekha Gupta
ProFrac Holding Corp. (NASDAQ:ACDC) shares fell after reporting Q4 FY23 results with revenue of $489 million missing estimates of $594.97 million and a net loss of $99.1 million compared to a net income of $40.9 million in the prior year. Adjusted EBITDA also declined to $110 million from $263.4 million. Despite this, the company anticipates higher profitability in 2024, especially in the Stimulation Services segment and expects modest improvement in the Proppant Production segment.
March 13, 2024 | 4:17 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
ProFrac Holding Corp. (ACDC) reported lower than expected Q4 FY23 results, with a significant revenue miss and a shift from net income to a net loss compared to the previous year. However, the company has a positive outlook for 2024.
The significant miss in revenue and the reported net loss are likely to negatively impact investor sentiment and the stock price in the short term. However, the company's optimistic outlook for 2024, including expected improvements in profitability and operations, might mitigate some of the negative sentiment over time.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100