ProFrac Holding Corp
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
ACDC$3.53+3.2%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(106.1) | $37.3 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 328.9 | 330.7 |
| Amortization of acquired unfavorable contracts | (39.1) | (41.0) |
| Stock-based compensation | 6.1 | 27.3 |
| Gain on disposal of assets, net | (2.5) | (0.3) |
| Gain on insurance recoveries | (3.2) | — |
| Non-cash loss (gain) on extinguishment of debt | 0.8 | (4.1) |
| Amortization of debt issuance costs | 11.2 | 18.8 |
| Acquisition earnout adjustment | — | (6.6) |
| Unrealized loss on investments, net | 0.9 | 24.1 |
| Provision for supply commitment charges | 9.6 | — |
| Goodwill impairment | 74.5 | — |
| Deferred tax expense (benefit) | (25.4) | 5.0 |
| Other non-cash items, net | (0.1) | 0.1 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 13.4 | 219.4 |
| Inventories | 26.7 | (15.3) |
| Prepaid expenses and other assets | (15.0) | (5.3) |
| Accounts payable | 24.3 | (48.1) |
| Accrued expenses | 7.0 | 6.0 |
| Other liabilities | (21.2) | (37.2) |
| Net cash provided by operating activities | 290.8 | 510.8 |
| Cash flows from investing activities: | ||
| Acquisitions, net of cash acquired | (194.4) | (456.5) |
| Investment in property, plant & equipment | (191.8) | (233.9) |
| Proceeds from sale of assets | 31.9 | 3.0 |
| Proceeds from insurance recoveries | 4.5 | — |
| Other investments | (2.0) | — |
| Net cash used in investing activities | (351.8) | (687.4) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of long-term debt | 136.4 | 334.7 |
| Repayments of long-term debt | (110.0) | (103.9) |
| Borrowings from revolving credit agreements | 1,580.4 | 1,219.9 |
| Repayments of revolving credit agreements | (1,540.6) | (1,315.4) |
| Payment of debt issuance costs | (3.5) | (18.9) |
| Tax withholding related to net share settlement of equity awards | (1.5) | (0.8) |
| Proceeds from issuance of Series A preferred stock | — | 50.0 |
| Payment of Series A preferred stock issuance costs | — | (1.1) |
| Net cash provided by financing activities | 61.2 | 164.5 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 0.2 | (12.1) |
| Cash, cash equivalents, and restricted cash beginning of period | 25.3 | 37.9 |
| Cash, cash equivalents, and restricted cash end of period | $25.5 | $25.8 |
| Non-cash investing and financing activities | ||
| Capital expenditures included in accounts payable | $38.2 | $42.2 |
| Operating lease liabilities incurred from obtaining right-of-use assets | $55.7 | $8.8 |
| Finance lease liabilities incurred from obtaining property, plant & equipment | $9.9 | $4.6 |
Notes to Unaudited Condensed Consolidated Financial Statements
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