ProPetro Holding Corp. (NYSE: PUMP) released its financial results for the third quarter of 2026 on October 28, 2026. The company reported total revenue of $355 million for the quarter, a 16% increase compared to the prior quarter's $306 million. This growth was driven by higher utilization in the completions business and incremental deployments in its PROPWR segment.
On the income statement, ProPetro recorded net income of $13 million, or $0.09 per diluted share. This marked a significant improvement from the net loss of $8 million, or $0.07 per diluted share, reported in the second quarter of 2026. The company also reported Adjusted EBITDA of $60 million, representing 17% of revenue and an increase of 33% compared to the prior quarter.
Regarding its PROPWR power generation business, the company generated approximately $8 million of Adjusted EBITDA in the third quarter. ProPetro announced a new agreement with Targa for approximately 230 megawatts of power generation capacity, bringing its total committed capacity to about 510 megawatts. The company stated it expects to deploy more than 500 megawatts by early 2028, with a target of between 250 and 275 megawatts deployed by the end of 2026.
In terms of liquidity, as of September 30, 2026, the company held $729 million in cash and cash equivalents. This included net proceeds from the issuance of $690 million in aggregate principal amount of convertible senior notes. Total liquidity was reported at $934 million, which included $185 million of available borrowing capacity under its ABL Credit Facility and $20 million of availability under its Caterpillar Equipment Loan Agreement.
ProPetro provided guidance for full-year 2026 capital expenditures incurred, anticipating a range of $525 million to $575 million. The company expects the completions business to account for approximately $125 million to $145 million of this total, while the PROPWR business is expected to incur approximately $400 million to $430 million in capital expenditures.
