ProPetro Holding reports Q3 EPS 31c, consensus 29c

Reports Q3 revenue $423.8M, consensus $412.92M. Sam Sledge, CEO, commented, “We are pleased to build on our momentum with yet another quarter of strong financial results. Thanks to solid execution by the ProPetro team, we continue to execute on our strategic priorities. We are excited to have deployed our new and innovative FORCESM electric-powered hydraulic fracturing fleet offering. The hard work and dedication of the ProPetro team and our partners and customers were critical in making this a success. The FORCESM electric-powered fleets along with our Tier IV DGB dual-fuel fleets are part of our strategy to transition our equipment to more desirable assets delivering premium value to our customers while lowering emissions through industry-leading natural gas substitution. This first FORCESM fleet deployment was a major milestone for the Company and I cannot be more pleased with how our team has rallied to optimize this deployment and begin preparation for our next FORCESM deployment later this month.”