ProFrac Holding Slips To Loss In Q4 As Revenue Drops; Stock Down In Pre-market

(RTTNews) - ProFrac Holding Corp. (ACDC), an industrial sand miner, on Wednesday registered a net loss for the fourth-quarter, reflecting decreased revenue, due to lower commodity prices and reduced activity.

For the three-month period, the miner posted a net loss of $97.9 million, compared with profit of$40.9 million, recorded for the same period of the previous year.

Pre-tax loss stood at $104.9 million as against profit of $112.7 million a year ago.

Operating loss was at $14.3 million, compared with profit of $125.2 million in 2022.

Excluding items, EBITDA was $109.5 million, down from $263.4 million a year ago.

Total revenue slipped to $489.1 million from the previous year's $794.1 million.

ACDC was trading down by 3.53 percent at $7.65 in the pre-market trade on the Nasdaq.