Profrac holding corp. reports 2023 full year and fourth quarter financial and operational results

Willow park, texas , march 13, 2024 /prnewswire/ -- profrac holding corp. (nasdaq: acdc) ("profrac", or the "company") today announced financial and operational results for its 2023 full year and fourth quarter ended december 31, 2023. 2023 full year results total revenue was $2.63 billion in 2023 compared to $2.43 billion in 2022 net loss in 2023 was $59 million compared to net income of $343 million in 2022 adjusted ebitda(1) was $688 million net cash provided by operating activities was $554 million capital expenditures totaled $267 million free cash flow was $293 million, an increase of 173% from 2022 net debt was $1.08 billion as of december 31, 2023 2023 fourth quarter results total fourth quarter revenue was $489 million compared to $574 million in the third quarter of 2023  net loss was $97 million compared to a net loss of $18 million in the third quarter of 2023 adjusted ebitda(1) was $110 million net cash provided by operating activities was $43 million capital expenditures totaled $33 million free cash flow was $13 million matt wilks, profrac's executive chairman, stated, "our fourth quarter results were challenged, as we expected, due to softness that persisted throughout the second half of the year.
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