MIDLAND, Texas (AP) — MIDLAND, Texas (AP) — ProPetro Holding Corp. (PUMP) on Tuesday reported fourth-quarter earnings of $13 million.
On a per-share basis, the Midland, Texas-based company said it had profit of 12 cents. Earnings, adjusted for non-recurring costs, came to 31 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The oilfield services company posted revenue of $348.9 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $338.2 million.
For the year, the company reported profit of $2 million, or 2 cents per share. Revenue was reported as $1.28 billion.
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