ProPetro Holding Q2 2024 GAAP EPS $(0.08) Misses $0.08 Estimate, Sales $367.021M Beat $366.712M Estimate
Portfolio Pulse from Benzinga Newsdesk
ProPetro Holding (NYSE:PUMP) reported Q2 2024 GAAP EPS of $(0.08), missing the $0.08 estimate by 200%. Sales of $367.021M slightly beat the $366.712M estimate but were down 15.68% YoY.
July 31, 2024 | 11:02 am
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NEGATIVE IMPACT
ProPetro Holding reported a significant earnings miss for Q2 2024, with GAAP EPS of $(0.08) compared to the $0.08 estimate. Sales slightly beat expectations but were down 15.68% year-over-year.
The significant earnings miss and year-over-year decline in sales are likely to negatively impact ProPetro Holding's stock price in the short term. Despite the slight beat in sales estimates, the overall financial performance is weak.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100