ProFrac Holding provides update on capital expenditures view

The company said, “For the full year 2024, the Company expects to incur capital expenditures closer to the lower end of previously provided guidance. Maintenance-related capital expenditures are expected to be approximately $150 million to $200 million, while growth-related capital expenditures across all segments are expected to total approximately $100 million in 2024. The Company continues to monitor market conditions, industry dynamics and customer demand to appropriately align spending levels and growth initiative timelines. Currently, growth capital expenditures for 2024 are expected to be primarily related to frac fleet upgrades, investments in next generation technologies, and sand mine improvements.”