Key Highlights

  • ProFrac Holding (NASDAQ:ACDC) reported a second quarter 2026 net loss of USD 74.7 million on Revenue of USD 498.1 million in its August 6, 2026 release, against a first quarter loss of USD 80.8 million.
  • Adjusted EBITDA rose to USD 69.4 million, a 14% margin, from USD 54.0 million in the first quarter, while revenue grew about 10.8% sequentially (own arithmetic on USD 449.6 million).
  • Total principal Debt was about USD 1.10 billion and net debt about USD 1.08 billion, against cash of only about USD 18.8 million at June 30, 2026.
  • Published market data showed shares near USD 3.89, down 6.83%, with a 30.9% one year EPS change; the snapshot date and EPS basis could not be confirmed.

A Second Quarter Loss That Narrowed but Did Not Close

ProFrac Holding (NASDAQ:ACDC) is an oilfield services company with hydraulic fracturing, proppant production, Manufacturing and Flotek chemical segments. In its second quarter 2026 release dated August 6, 2026, it reported revenue of USD 498.1 million, up from USD 449.6 million in the first quarter, and a net loss of USD 74.7 million versus USD 80.8 million. The loss attributable to ProFrac was USD 79.7 million. Stimulation Services, the fracturing arm, earned USD 39 million of adjusted EBITDA at a 9% margin, while Proppant Production earned USD 6 million at 5%. Management guided to better third quarter stimulation results and a roughly flat proppant quarter.

USD 1.1 Billion of Debt Against USD 18.8 Million of Cash

The Balance Sheet is the central constraint. Total principal debt was about USD 1.10 billion at June 30, 2026, and net debt about USD 1.08 billion. Cash was about USD 18.8 million, of which roughly USD 5 million sat at Flotek and was not accessible to the parent, and Liquidity was about USD 72 million including USD 58 million of asset-based Facility availability. Operating Cash Flow of USD 22.9 million did not cover Capital spending of about USD 32 million, leaving free cash flow at negative USD 7.9 million. On July 1, 2026 a USD 300 million facility replaced the earlier USD 275 million one, with about USD 173 million drawn and about USD 71 million available.

What a 30.9% EPS Change Can and Cannot Show

The aggressive small-cap screen shows a one year EPS change of 30.9% for ProFrac Holding (NASDAQ:ACDC). The second quarter release did not report earnings per share, so the figure and its basis, GAAP or adjusted, are unconfirmed. Because the company loses money, the number most plausibly reflects a smaller loss per share, not growth from profit and a change from a negative base can look large while the Business stays unprofitable. For context, the fourth quarter 2025 net loss was about USD 141 million including a roughly USD 53 million impairment, so losses have narrowed over three reported quarters. Leadership also changed: Ladd Wilks stepped down as chief executive effective August 7, 2026, and Matt Wilks became chief executive and executive chairman. Market Capitalization was not verified.

Where Things Stand

Not yet on the evidence available. ProFrac Holding (NASDAQ:ACDC) is losing less than it did, with the quarterly loss falling from USD 80.8 million to USD 74.7 million and adjusted EBITDA improving, but it still posted a loss, negative free cash flow and about USD 1.08 billion of net debt against thin cash. The next catalyst is the third quarter report, whose date was not confirmed in the filings reviewed. Pricing, utilization and the amount drawn on the new facility are the figures to follow. Screen prices and moves are unverified and can reverse quickly.