ProPetro Holding Corp. Q1 2026 Earnings and Framework Agreement with Caterpillar

ProPetro Holding Corp. reported its financial and operational results for the first quarter of 2026. The company experienced a 7% decrease in total revenue, reaching $271 million, and a net loss of $4 million ($0.03 loss per diluted share). Adjusted EBITDA was $36 million, representing 13% of revenue. The company incurred $85 million in capital expenditures, with $43 million paid. In operational highlights, ProPetro entered into a strategic framework agreement with Caterpillar Inc. to secure access to approximately 2.1 gigawatts of additional power generation capacity over the next five years, positioning the company to have approximately 2.6 gigawatts by year-end 2031. They are also in advanced negotiations for 100 megawatts for oil and gas microgrid projects and have made advancements in data center opportunities. The company anticipates full-year 2026 capital expenditures to be between $540 million and $610 million, with a significant portion allocated to the PROPWR business. Despite a challenging quarter impacted by weather, ProPetro highlighted the resilience of its business model and its strategic positioning for future growth, driven by both its completions business and the expanding PROPWR platform.