$PUMP
ProPetro Holding Corp.

2023 Q3 Form 10-Q Financial Statement

#000168024723000053 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $423.8M $435.2M
YoY Change 27.26% 38.14%
Cost Of Revenue $292.5M $297.8M
YoY Change 30.51% 36.09%
Gross Profit $131.3M $137.5M
YoY Change 20.57% 42.78%
Gross Profit Margin 30.98% 31.58%
Selling, General & Admin $28.60M $29.02M
YoY Change 1.45% 15.46%
% of Gross Profit 21.78% 21.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.400M $52.89M
YoY Change -72.38% 68.1%
% of Gross Profit 6.4% 38.48%
Operating Expenses $82.30M $81.91M
YoY Change 40.43% 44.72%
Operating Profit $44.68M $55.55M
YoY Change 227.28% -237.95%
Interest Expense $1.169M -$1.080M
YoY Change 393.25% -261.43%
% of Operating Profit 2.62% -1.94%
Other Income/Expense, Net $714.0K -$28.00K
YoY Change -183.7% -95.78%
Pretax Income $45.40M $51.38M
YoY Change 254.66% -225.52%
Income Tax $10.64M $12.12M
% Of Pretax Income 23.45% 23.59%
Net Earnings $34.75M $39.26M
YoY Change 246.42% -219.47%
Net Earnings / Revenue 8.2% 9.02%
Basic Earnings Per Share $0.31 $0.34
Diluted Earnings Per Share $0.31 $0.34
COMMON SHARES
Basic Shares Outstanding 112.8M shares 115.2M shares
Diluted Shares Outstanding 112.7M shares 114.8M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.50M $68.55M
YoY Change 20.86% -1.78%
Cash & Equivalents $54.33M $62.11M
Short-Term Investments $8.200M $6.437M
Other Short-Term Assets $2.109M $9.311M
YoY Change -92.98% 4509.41%
Inventory $15.89M $18.16M
Prepaid Expenses $8.753M $8.607M
Receivables $260.8M $251.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $350.0M $347.1M
YoY Change 16.57% 34.02%
LONG-TERM ASSETS
Property, Plant & Equipment $991.6M $1.007B
YoY Change 17.83% 24.83%
Goodwill $23.60M $23.62M
YoY Change
Intangibles $52.05M $53.48M
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.244M $2.370M
YoY Change 79.23% 75.04%
Total Long-Term Assets $1.122B $1.086B
YoY Change 33.06% 34.33%
TOTAL ASSETS
Total Short-Term Assets $350.0M $347.1M
Total Long-Term Assets $1.122B $1.086B
Total Assets $1.472B $1.433B
YoY Change 28.74% 34.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $194.6M $218.1M
YoY Change 3.84% 28.21%
Accrued Expenses $65.31M $58.15M
YoY Change -0.97% 153.64%
Deferred Revenue $20.50M $20.30M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.500M
YoY Change
Total Short-Term Liabilities $273.8M $276.3M
YoY Change 7.88% 42.67%
LONG-TERM LIABILITIES
Long-Term Debt $45.00M $60.00M
YoY Change
Other Long-Term Liabilities $14.20M $4.564M
YoY Change 11351.61% 2216.75%
Total Long-Term Liabilities $45.00M $64.56M
YoY Change 36190.32% 32673.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $273.8M $276.3M
Total Long-Term Liabilities $45.00M $64.56M
Total Liabilities $444.9M $425.0M
YoY Change 42.11% 69.61%
SHAREHOLDERS EQUITY
Retained Earnings $86.14M $51.39M
YoY Change -390.62% -229.53%
Common Stock $941.2M $957.0M
YoY Change 9.42% 11.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.027B $1.008B
YoY Change
Total Liabilities & Shareholders Equity $1.472B $1.433B
YoY Change 28.74% 34.26%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $34.75M $39.26M
YoY Change 246.42% -219.47%
Depreciation, Depletion And Amortization $8.400M $52.89M
YoY Change -72.38% 68.1%
Cash From Operating Activities $118.1M $114.0M
YoY Change 64.85% 45.84%
INVESTING ACTIVITIES
Capital Expenditures $96.90M $108.9M
YoY Change -194.4% -235.84%
Acquisitions
YoY Change
Other Investing Activities $6.000M $955.0K
YoY Change 40.98% -64.31%
Cash From Investing Activities -$91.10M -$108.0M
YoY Change -7.41% 39.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.80M 11.35M
YoY Change -21190.91% -810.52%
NET CHANGE
Cash From Operating Activities 118.1M 114.0M
Cash From Investing Activities -91.10M -108.0M
Cash From Financing Activities -34.80M 11.35M
Net Change In Cash -7.800M 17.32M
YoY Change -70.66% -1869.15%
FREE CASH FLOW
Cash From Operating Activities $118.1M $114.0M
Capital Expenditures $96.90M $108.9M
Free Cash Flow $21.20M $5.018M
YoY Change -87.84% -96.83%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-42129000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88862000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
111918000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62113000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69789000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
71080000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
53108000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49890000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69789000 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12223000 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62113000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69789000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
12200000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
10000000 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
20300000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10000000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2700000 usd
CY2023Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
54200000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
51900000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
83500000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
419000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
217000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
202000 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Reclassification of Prior Period PresentationCertain reclassifications have been made to prior period amounts to conform to the current period presentation. These reclassifications had no effect on our balance sheet, operating and net income (loss) or cash flows from operating, investing and financing activities.
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Change in Accounting Estimates</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current trends in hydraulic fracturing equipment operating conditions such as larger pads, changes to job design and increased pumping hours per day have resulted in shorter useful lives for certain critical components that are included in our property and equipment assets. These recent trends necessitated a review of useful lives of our critical components like fluid ends, power ends, hydraulic fracturing units and other components in the first quarter of 2023. We determined that the estimated useful life of fluid ends is now less than one year, resulting in our determination that costs associated with the replacement of these components will no longer be capitalized, but instead recorded in inventories and amortized to cost of services over their estimated useful life. We have also shortened the estimated useful lives of power ends to two years from five years and hydraulic fracturing units to ten years from fifteen years. This change in accounting estimates was made effective January 1, 2023 and accounted for prospectively. The net effect of this change for the three and six months ended June 30, 2023 was a $3.9 million and $7.3 million decrease in net income, or $0.03 and $0.06 per basic and diluted share, respectively. </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, in connection with the review of our power ends estimated useful life, effective January 1, 2023, we are accelerating the depreciation of the remaining book value of power ends that prematurely fail. In 2022, we wrote off the remaining book value of prematurely failed and disposed of power ends to loss on disposal of assets. The amounts included in depreciation in connection with premature failure of power ends and other components during the three and six months ended June 30, 2023 were $11.8 million and $24.3 million, respectively. Furthermore, to conform to current period presentation, we have reclassified the amounts relating to premature failure of power ends previously included in loss on disposal of assets to depreciation expense for prior periods. The amounts reclassified were $9.5 million and $15.7 million, which relate to the three and six months ended June 30, 2022, respectively.</span></div>
CY2023Q2 us-gaap Depreciation
Depreciation
11800000 usd
us-gaap Depreciation
Depreciation
24300000 usd
CY2023Q2 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
CY2022Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
52889000 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
40969000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
103687000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
78973000 usd
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
6400000 usd
CY2023Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-100000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-3900000 usd
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-100000 usd
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-100000 usd
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 usd
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
57500000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
23600000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
23600000 usd
CY2022Q2 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2023Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P10Y
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2900000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
57300000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
57300000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3820000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
955000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
53480000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
56345000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P9Y3M18D
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2865000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
5730000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
5730000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5730000 usd
CY2023Q2 pump Finite Lived Intangible Asset Expected Amortization Year Four And After
FiniteLivedIntangibleAssetExpectedAmortizationYearFourAndAfter
33425000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
53480000 usd
CY2023Q2 pump Line Of Credit Facility Borrowing Base Accounts Receivable Eligible Unbilled Percentage
LineOfCreditFacilityBorrowingBaseAccountsReceivableEligibleUnbilledPercentage
0.80
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q2 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
26900000 usd
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
52200000 usd
CY2022Q2 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
7700000 usd
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
25000000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
435249000 usd
CY2023Q2 pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
112813000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
52889000 usd
CY2023Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
115233000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
23624000 usd
CY2023Q2 us-gaap Assets
Assets
1433379000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
315083000 usd
CY2022Q2 pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
75947000 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
40969000 usd
CY2022Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
89081000 usd
CY2022Q2 us-gaap Assets
Assets
1335786000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
858819000 usd
pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
231978000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
103687000 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
212403000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
23624000 usd
CY2023Q2 us-gaap Assets
Assets
1433379000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
597763000 usd
pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
142480000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
78973000 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
160809000 usd
CY2022Q2 us-gaap Assets
Assets
1335786000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
39257000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
52889000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
1180000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12118000 usd
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-3065000 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3758000 usd
CY2023Q2 pump Other Nonoperating Expense Income
OtherNonoperatingExpenseIncome
-72000 usd
CY2023Q2 pump Other General And Administrative Expense Reimbursement
OtherGeneralAndAdministrativeExpenseReimbursement
263000 usd
CY2023Q2 us-gaap Severance Costs1
SeveranceCosts1
355000 usd
CY2023Q2 pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
112813000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-32860000 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
40969000 usd
CY2022Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
57454000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
669000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-8069000 usd
CY2022Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-12978000 usd
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3458000 usd
CY2022Q2 pump Other Nonoperating Expense Income
OtherNonoperatingExpenseIncome
-6000 usd
CY2022Q2 pump Other General And Administrative Expense Reimbursement
OtherGeneralAndAdministrativeExpenseReimbursement
1345000 usd
CY2022Q2 us-gaap Severance Costs1
SeveranceCosts1
9000 usd
CY2022Q2 pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
75947000 usd
us-gaap Net Income Loss
NetIncomeLoss
67990000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
103687000 usd
us-gaap Interest Expense
InterestExpense
1847000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20474000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-25145000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
7294000 usd
pump Other Nonoperating Expense Income
OtherNonoperatingExpenseIncome
3632000 usd
pump Other General And Administrative Expense Reimbursement
OtherGeneralAndAdministrativeExpenseReimbursement
1209000 usd
us-gaap Severance Costs1
SeveranceCosts1
700000 usd
pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
231978000 usd
us-gaap Net Income Loss
NetIncomeLoss
-21043000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
78973000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
57454000 usd
us-gaap Interest Expense
InterestExpense
803000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3932000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-22947000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
14822000 usd
pump Other Nonoperating Expense Income
OtherNonoperatingExpenseIncome
-10364000 usd
pump Other General And Administrative Expense Reimbursement
OtherGeneralAndAdministrativeExpenseReimbursement
2791000 usd
us-gaap Severance Costs1
SeveranceCosts1
29000 usd
pump Earnings Before Income Taxes Depreciationand Amortization Adjusted For One Time And Nonrecurring Charges
EarningsBeforeIncomeTaxesDepreciationandAmortizationAdjustedForOneTimeAndNonrecurringCharges
142480000 usd
CY2023Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-100000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-3900000 usd
CY2023Q2 us-gaap Insurance Recoveries
InsuranceRecoveries
0 usd
us-gaap Insurance Recoveries
InsuranceRecoveries
300000 usd
CY2022Q2 us-gaap Insurance Recoveries
InsuranceRecoveries
2400000 usd
us-gaap Insurance Recoveries
InsuranceRecoveries
3500000 usd
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
10700000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
39257000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-32860000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114737000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104236000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
114796000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104236000 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
us-gaap Net Income Loss
NetIncomeLoss
67990000 usd
us-gaap Net Income Loss
NetIncomeLoss
-21043000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114809000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103961000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115102000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103961000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2348000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3582000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1700000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3582000 shares
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
17500000 usd
CY2023Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
7.63
CY2023Q2 pump Stock Repurchase Excise Tax
StockRepurchaseExciseTax
100000 usd
CY2023Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
82500000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y10M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
488000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
246000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
14.00
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
242000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.00
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
242000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.00
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2022Q4 pump Lessee Operating Lease Hydraulic Horsepower
LesseeOperatingLeaseHydraulicHorsepower
60000 hp
pump Number Of Real Estate Leases
NumberOfRealEstateLeases
2 lease
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7800000 usd
CY2023Q2 pump Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
2100000 usd
CY2022Q4 pump Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
4600000 usd
CY2022Q4 pump Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
1500000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
300000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
737000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1232000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1195000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1209000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1225000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
821000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6419000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
730000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
5689000 usd
pump Payments Includedin Measurementof Operating Lease Liabilities
PaymentsIncludedinMeasurementofOperatingLeaseLiabilities
700000 usd
pump Payments Includedin Measurementof Operating Lease Liabilities
PaymentsIncludedinMeasurementofOperatingLeaseLiabilities
300000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
500000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
400000 usd
CY2023Q2 us-gaap Contractual Obligation
ContractualObligation
16400000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
29200000 usd
pump Loss Contingency Self Insurance Maximum Amount
LossContingencySelfInsuranceMaximumAmount
10000000 usd
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001680247-23-000053-index-headers.html Edgar Link pending
0001680247-23-000053-index.html Edgar Link pending
0001680247-23-000053.txt Edgar Link pending
0001680247-23-000053-xbrl.zip Edgar Link pending
a06302023exhibit311.htm Edgar Link pending
a06302023exhibit312.htm Edgar Link pending
a06302023exhibit321.htm Edgar Link pending
a06302023exhibit322.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pump-20230630.htm Edgar Link pending
pump-20230630.xsd Edgar Link pending
R1.htm Edgar Link pending
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pump-20230630_cal.xml Edgar Link unprocessable
pump-20230630_def.xml Edgar Link unprocessable
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pump-20230630_pre.xml Edgar Link unprocessable
pump-20230630_htm.xml Edgar Link completed
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable