10-Q Filing

ProPetro Holding Corp. CIK: 1680247 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001680247-18-000044`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	pump-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 34 Cash Flow Statement 64 Stockholders Equity 7

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$457.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$443.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$85.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.41M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$133.60M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	83.41M	shares	Point-in-time
Accounts receivable - net of allowance for doubtful accounts of $457 and $443, respectively	`AccountsReceivableNetCurrent`	$199.66M	USD	Point-in-time
Accounts receivable - net of allowance for doubtful accounts of $457 and $443, respectively	`AccountsReceivableNetCurrent`	$253.12M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	83.04M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	83.04M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	83.41M	shares	Point-in-time
Inventories	`InventoryNet`	$7.51M	USD	Point-in-time
Inventories	`InventoryNet`	$6.18M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.12M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.71M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$748.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$313.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$235.66M	USD	Point-in-time
PROPERTY AND EQUIPMENT - Net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$470.91M	USD	Point-in-time
PROPERTY AND EQUIPMENT - Net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$524.15M	USD	Point-in-time
Goodwill	`Goodwill`	$9.43M	USD	Point-in-time
Goodwill	`Goodwill`	$9.43M	USD	Point-in-time
Goodwill	`Goodwill`	$9.43M	USD	Point-in-time
Intangible assets - net of amortization	`IntangibleAssetsNetExcludingGoodwill`	$229.00K	USD	Point-in-time
Intangible assets - net of amortization	`IntangibleAssetsNetExcludingGoodwill`	$301.00K	USD	Point-in-time
Deferred revenue rebate - net of amortization	`DeferredRevenueRebateNoncurrent`	$615.00K	USD	Point-in-time
Deferred revenue rebate - net of amortization	`DeferredRevenueRebateNoncurrent`	$154.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.55M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.12M	USD	Point-in-time
Total other noncurrent assets	`AssetsExcludingPropertyPlantAndEquipmentNoncurrent`	$12.46M	USD	Point-in-time
Total other noncurrent assets	`AssetsExcludingPropertyPlantAndEquipmentNoncurrent`	$12.36M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$850.35M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$719.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$254.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$211.15M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$16.61M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$11.98M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$15.76M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$15.03M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$76.00K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$544.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$243.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$282.27M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$4.88M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$14.94M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$57.18M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$102.30M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$127.00K	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$125.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$305.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$399.63M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 83,412,189 and 83,039,854 shares issued, respectively	`CommonStockValue`	$83.00K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 83,412,189 and 83,039,854 shares issued, respectively	`CommonStockValue`	$83.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$608.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$607.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-194.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-157.59M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$450.72M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$413.25M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$850.35M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$719.03M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
REVENUE - Service revenue	`RevenueOilAndGasServices`	$171.93M	USD	1 Quarter
REVENUE - Service revenue	`RevenueOilAndGasServices`	$385.22M	USD	1 Quarter
Cost of services (exclusive of depreciation and amortization)	`CostOfServicesExcludingDepreciationAndAmortization`	$149.56M	USD	1 Quarter
Cost of services (exclusive of depreciation and amortization)	`CostOfServicesExcludingDepreciationAndAmortization`	$298.12M	USD	1 Quarter
General and administrative (inclusive of stock-based compensation)	`GeneralAndAdministrativeExpense`	$11.94M	USD	1 Quarter
General and administrative (inclusive of stock-based compensation)	`GeneralAndAdministrativeExpense`	$19.86M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.15M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$18.94M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-7.67M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-10.44M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$191.02M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$336.67M	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$48.55M	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-19.09M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.26M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.17M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-230.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$26.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.15M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.49M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-24.23M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$47.06M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$10.35M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$116.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-24.35M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$36.71M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.43	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.44	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.43	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	83.08M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	56.00M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.00M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	86.85M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-24.35M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$36.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.15M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$10.05M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$55.00K	USD	1 Quarter
Amortization of deferred revenue rebate	`AmortizationOfDeferredRevenueRebate`	$462.00K	USD	1 Quarter
Amortization of deferred revenue rebate	`AmortizationOfDeferredRevenueRebate`	$462.00K	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$89.00K	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$3.16M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$758.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$7.37M	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.44M	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.53M	USD	1 Quarter
Gain on interest rate swap	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$138.00K	USD	1 Quarter
Gain on interest rate swap	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.31M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$53.46M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$338.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-468.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.33M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$441.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-670.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$742.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$38.75M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-14.88M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.56M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.25M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-108.00K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$468.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$54.63M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.39M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$86.80M	USD	Point-in-time
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$50.91M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$75.15M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$317.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$452.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.46M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-74.83M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$46.73M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$71.80M	USD	Point-in-time
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$161.67M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$2.34M	USD	1 Quarter
Repayments of insurance financing	`RepaymentsOfLongtermLoansFromVendors`	$1.37M	USD	1 Quarter
Repayments of insurance financing	`RepaymentsOfLongtermLoansFromVendors`	$1.24M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.61M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$360.00K	USD	1 Quarter
Proceeds from IPO	`ProceedsFromIssuanceInitialPublicOffering`	$185.50M	USD	1 Quarter
Proceeds from IPO	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	1 Quarter
Payment of IPO costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Payment of IPO costs	`PaymentsOfStockIssuanceCosts`	$15.10M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.88M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$42.66M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.46M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-47.97M	USD	1 Quarter
CASH AND CASH EQUIVALENTS - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$85.62M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.95M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$46.41M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$133.60M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of period	`CashAndCashEquivalentsAtCarryingValue`	$85.62M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of period	`CashAndCashEquivalentsAtCarryingValue`	$23.95M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of period	`CashAndCashEquivalentsAtCarryingValue`	$46.41M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of period	`CashAndCashEquivalentsAtCarryingValue`	$133.60M	USD	Point-in-time

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
BALANCE	`StockholdersEquity`	$450.72M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$413.25M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$758.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-24.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.71M	USD	1 Quarter
BALANCE	`StockholdersEquity`	$450.72M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$413.25M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.