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ProFrac Holding Corp. (ACDC) Reports Q4 Loss, Lags Revenue Estimates
ACDCProFrac (ACDC) Zacks Investment Research·2024-03-15 22:46

Company Performance - ProFrac Holding Corp. reported a quarterly loss of 0.19pershare,significantlyworsethantheZacksConsensusEstimateof0.19 per share, significantly worse than the Zacks Consensus Estimate of 0.04, and down from earnings of 1.46pershareayearago,indicatinga−5751.46 per share a year ago, indicating a -575% earnings surprise [1] - The company's revenues for the quarter were 489.1 million, missing the Zacks Consensus Estimate by 17.68%, and down from 794.1millioninthesamequarterlastyear[1]−Overthelastfourquarters,ProFrachasonlysurpassedconsensusEPSestimatesonceandhasnotbeatenconsensusrevenueestimates[1]MarketOutlook−ProFracHoldingCorp.shareshavedeclinedapproximately8.1794.1 million in the same quarter last year [1] - Over the last four quarters, ProFrac has only surpassed consensus EPS estimates once and has not beaten consensus revenue estimates [1] Market Outlook - ProFrac Holding Corp. shares have declined approximately 8.1% since the beginning of the year, contrasting with the S&P 500's gain of 8% [2] - The company's earnings outlook is currently unfavorable, reflected in a Zacks Rank of 5 (Strong Sell), suggesting expected underperformance in the near future [4] - The current consensus EPS estimate for the upcoming quarter is 0.12 on revenues of 629.07million,andforthecurrentfiscalyear,itis629.07 million, and for the current fiscal year, it is 0.94 on revenues of $2.7 billion [4] Industry Context - The Alternative Energy - Other industry, to which ProFrac belongs, is currently ranked in the bottom 31% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - The performance of ProFrac may also be influenced by the broader industry outlook, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5]