10-Q Filing

ProPetro Holding Corp. CIK: 1680247 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001680247-19-000057`
Period End Date	20190331
Filing Date	20190508
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	pump-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 34 Cash Flow Statement 58 Stockholders Equity 13

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$199.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$100.00K	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, authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.70M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$79.52M	USD	Point-in-time
Accounts receivable - net of allowance for doubtful accounts of $199 and $100, respectively	`AccountsReceivableNetCurrent`	$357.47M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	100.29M	shares	Point-in-time
Accounts receivable - net of allowance for doubtful accounts of $199 and $100, respectively	`AccountsReceivableNetCurrent`	$202.96M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	100.19M	shares	Point-in-time
Common Stock, Shares Outstanding ( in shares )	`CommonStockSharesOutstanding`	100.19M	shares	Point-in-time
Common Stock, Shares Outstanding ( in shares )	`CommonStockSharesOutstanding`	100.29M	shares	Point-in-time
Inventories	`InventoryNet`	$5.87M	USD	Point-in-time
Inventories	`InventoryNet`	$6.35M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.60M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.61M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$638.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$349.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$449.65M	USD	Point-in-time
PROPERTY AND EQUIPMENT - Net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$912.85M	USD	Point-in-time
PROPERTY AND EQUIPMENT - Net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$945.09M	USD	Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS	`Operatingleaserightofuseassetnet`	$1.73M	USD	Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS	`Operatingleaserightofuseassetnet`	-	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`	$13.00K	USD	Point-in-time
Intangible assets - net of amortization	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$3.10M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.98M	USD	Point-in-time
Total other noncurrent assets	`AssetsExcludingPropertyPlantAndEquipmentNoncurrent`	$12.53M	USD	Point-in-time
Total other noncurrent assets	`AssetsExcludingPropertyPlantAndEquipmentNoncurrent`	$12.42M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.41B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.27B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$274.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$214.46M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$416.00K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	-	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$3.04M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$138.09M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$24.49M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$211.00K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$691.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$352.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$302.66M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$75.37M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$54.28M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$70.00M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$160.00M	USD	Point-in-time
NONCURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	$1.44M	USD	Point-in-time
NONCURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$124.00K	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$477.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$539.46M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000,000 shares authorized, none issued, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000,000 shares authorized, none issued, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized,100,294,098 and 100,190,126 shares issued, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized,100,294,098 and 100,190,126 shares issued, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$820.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$817.69M	USD	Point-in-time
Accumulated surplus (deficit)	`RetainedEarningsAccumulatedDeficit`	$49.37M	USD	Point-in-time
Accumulated surplus (deficit)	`RetainedEarningsAccumulatedDeficit`	$-20.43M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$797.36M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$869.54M	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`	$1.41B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.27B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
REVENUE - Service revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$385.22M	USD	1 Quarter
REVENUE - Service revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$546.18M	USD	1 Quarter
Cost of services (exclusive of depreciation and amortization)	`CostOfServicesExcludingDepreciationAndAmortization`	$298.12M	USD	1 Quarter
Cost of services (exclusive of depreciation and amortization)	`CostOfServicesExcludingDepreciationAndAmortization`	$381.52M	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`	$18.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$18.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$33.12M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-7.67M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-19.23M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$452.39M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$336.67M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$48.55M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$93.79M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.26M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.90M	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-187.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-230.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-2.09M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.49M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$47.06M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$91.70M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$10.35M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$21.89M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$69.81M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$36.71M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.70	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`	$0.67	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	83.08M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	100.23M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	86.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	104.12M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$69.81M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$36.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.94M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$10.05M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$21.08M	USD	1 Quarter
Amortization of deferred revenue rebate	`AmortizationOfDeferredRevenueRebate`	$462.00K	USD	1 Quarter
Amortization of deferred revenue rebate	`AmortizationOfDeferredRevenueRebate`	-	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$134.00K	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$89.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.83M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$758.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.53M	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-19.23M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$154.52M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$53.46M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$338.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$274.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-482.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.33M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$742.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-759.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$38.75M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$45.32M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.37M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.25M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$480.00K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$468.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.09M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$54.63M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$75.15M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$178.91M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$317.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.03M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-177.88M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-74.83M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$46.73M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$90.00M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$2.34M	USD	1 Quarter
Repayments of insurance financing	`RepaymentsOfLongtermLoansFromVendors`	$1.93M	USD	1 Quarter
Repayments of insurance financing	`RepaymentsOfLongtermLoansFromVendors`	$1.37M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$360.00K	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Proceeds from exercise of equity awards	`ProceedsFromStockOptionsExercised`	$552.00K	USD	1 Quarter
Proceeds from exercise of equity awards	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$42.66M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$88.62M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.46M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-53.18M	USD	1 Quarter
CASH AND CASH EQUIVALENTS - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.95M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$132.70M	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`	$79.52M	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`	$132.70M	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`	$79.52M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$797.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$869.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$450.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$413.25M	USD	Point-in-time
Stock-based compensation cost	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$758.00K	USD	1 Quarter
Stock-based compensation cost	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.83M	USD	1 Quarter
Issuance of equity awards, net	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$552.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$69.81M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.71M	USD	1 Quarter
Balance	`StockholdersEquity`	$797.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$869.54M	USD	Point-in-time
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.