ProPetro: 2Q Earnings Snapshot
MIDLAND, Texas (AP) _ ProPetro Holding Corp. (PUMP) on Thursday reported second-quarter earnings of $36.1 million.
On a per-share basis, the Midland, Texas-based company said it had net income of 35 cents.
The results did not meet Wall Street expectations. The average estimate of 23 analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The oilfield services company posted revenue of $529.5 million in the period, exceeding Street forecasts. Twenty-three analysts surveyed by Zacks expected $523.6 million.
ProPetro shares have increased 41% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.31, a rise of 2.5% in the last 12 months.