Reports Q3 revenue $696.7M, consensus $681.05M. Matt Wilks, Executive Chairman, stated, "We are proud to report that we grew sequential revenue by 18% and drove sequential Adjusted EBITDA up 23% in Q3. Our annualized Adjusted EBITDA per fleet continued to grow, supporting the ongoing investment in our equipment and developing next generation equipment. These third quarter results demonstrate our Company’s commitment and hard work that have produced strong operational efficiencies and financial growth as we continue to scale the business. We are bullish on the future of our industry and even more so, on ProFrac, as we continue to execute our Acquire-Retire-Replace(TM) and vertical integration strategies." CEO Ladd Wilks added, "I am excited to welcome the U.S. Well Services team onboard as ProFrac continues to lead our industry in reducing emissions and reducing our customers’ carbon footprints in support of their ESG initiatives…Constructive market dynamics are supporting pricing and utilization. In addition, our unique ability to manage the complicated supply chain as a single provider represents the greatest opportunity for us to enhance profitability through more efficiently providing sand, chemicals, storage and logistics for our customers. During Q3, we made great progress expanding the number of fleets that are bundling materials."
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