Profrac holding corp. reports 2022 fourth quarter and full year financial and operational results
Willow park, texas , march 21, 2023 /prnewswire/ -- profrac holding corp. (nasdaq: acdc) ("profrac", or the "company") today announced financial and operational results for its fourth quarter and full year ended december 31, 2022. full year 2022 results total revenue of $2.4 billion, up 216% year-over-year net income totaled $342.7 million compared to a net loss of ($43.5) million in the previous year adjusted ebitda(1) excluding flotek increased approximately 520% year-over-year to $835.5 million adjusted ebitda per active fleet(2) excluding flotek was $27.9 million on 29.9 average active fleets during the year full year results include the consolidation of flotek results which contributed $37.1 million in revenue excluding intercompany eliminations, and ($24.3) million in adjusted ebitda fourth quarter 2022 results and recent highlights total revenue grew approximately 14% sequentially to $794.1 million over 2022 third quarter revenue net income declined approximately 17% sequentially to $116 million adjusted ebitda(1) excluding flotek increased approximately 2% sequentially to $269.2 million annualized adjusted ebitda per fleet(2) excluding flotek was $29.9 million on 36 average active fleets during the quarter fourth quarter results include the consolidation of flotek results which contributed $15.9 million in revenue excluding intercompany eliminations, and ($5.8) million in adjusted ebitda in the fourth quarter of 2022, the company successfully closed on its acquisitions of us well services, the eagle ford sand mining operations of monarch silica, and rev energy holdings in the first quarter of 2023, the company upsized the term loan credit facility by $320 million and closed on its acquisitions of producers service holdings and performance proppants matt wilks, profrac's executive chairman, stated, "i am extremely pleased with our company's commitment and hard work that continues to generate improved operational efficiencies and financial growth as we scale the business.
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