ProPetro: 2Q Earnings Snapshot
MIDLAND, Texas (AP) _ ProPetro Holding Corp. (PUMP) on Tuesday reported second-quarter earnings of $39.1 million.
The Midland, Texas-based company said it had profit of 45 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The oilfield services company posted revenue of $459.9 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $422.6 million.
ProPetro shares have fallen 19 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.37, a rise of 34 percent in the last 12 months.