10-Q Filing

ProPetro Holding Corp. CIK: 1680247 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001680247-21-000016`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	pump-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 36 Cash Flow Statement 58 Stockholders Equity 16

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.50M	USD	Point-in-time
Allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.86M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable - net of allowance for credit losses of $0 and $1,497, respectively	`AccountsReceivableNetCurrent`	$84.24M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable - net of allowance for credit losses of $0 and $1,497, respectively	`AccountsReceivableNetCurrent`	$110.39M	USD	Point-in-time
Inventories	`InventoryNet`	$2.73M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$2.33M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$7.85M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.20M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	102.06M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	100.91M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$782.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$167.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$176.44M	USD	Point-in-time
PROPERTY AND EQUIPMENT - net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$880.48M	USD	Point-in-time
PROPERTY AND EQUIPMENT - net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$866.05M	USD	Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS	`Operatingleaserightofuseassetnet`	$709.00K	USD	Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS	`Operatingleaserightofuseassetnet`	$636.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.66M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.83M	USD	Point-in-time
Total other noncurrent assets	`AssetsExcludingPropertyPlantAndEquipmentNoncurrent`	$1.83M	USD	Point-in-time
Total other noncurrent assets	`AssetsExcludingPropertyPlantAndEquipmentNoncurrent`	$1.66M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.04B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.05B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.05B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$79.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$108.93M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$342.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$334.00K	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$19.19M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$24.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$128.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$104.16M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$75.34M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$68.68M	USD	Point-in-time
NONCURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	$378.00K	USD	Point-in-time
NONCURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	$465.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$197.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$179.97M	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, 102,057,815 and 100,912,777 shares issued, respectively	`CommonStockValue`	$102.00K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 102,057,815 and 100,912,777 shares issued, respectively	`CommonStockValue`	$101.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$835.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$831.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.18M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$847.27M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$870.77M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$961.52M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$969.30M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.04B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.05B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
REVENUE - Service revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$395.07M	USD	1 Quarter
REVENUE - Service revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$161.46M	USD	1 Quarter
Cost of services (exclusive of depreciation and amortization)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$123.38M	USD	1 Quarter
Cost of services (exclusive of depreciation and amortization)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$300.85M	USD	1 Quarter
General and administrative (inclusive of stock-based compensation)	`GeneralAndAdministrativeExpense`	$24.94M	USD	1 Quarter
General and administrative (inclusive of stock-based compensation)	`GeneralAndAdministrativeExpense`	$20.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$33.48M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$40.20M	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	$16.65M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-13.05M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-19.85M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$190.11M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$402.50M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-28.65M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-7.43M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.28M	USD	1 Quarter
Interest expense	`InterestExpense`	$176.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$1.79M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-3.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.61M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.28M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-27.04M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.71M	USD	1 Quarter
INCOME TAX BENEFIT	`IncomeTaxExpenseBenefit`	$-909.00K	USD	1 Quarter
INCOME TAX BENEFIT	`IncomeTaxExpenseBenefit`	$-6.66M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-20.38M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-7.80M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	100.69M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	101.55M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	101.55M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	100.69M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-20.38M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-7.80M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$40.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.48M	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	$16.65M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-6.66M	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-1.31M	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$135.00K	USD	1 Quarter
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$134.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.49M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$471.00K	USD	1 Quarter
Provision for credit losses	`AccountsReceivableAllowanceForCreditLossWriteOffAndCreditLossExpenseReversal`	$4.29M	USD	1 Quarter
Provision for credit losses	`AccountsReceivableAllowanceForCreditLossWriteOffAndCreditLossExpenseReversal`	-	USD	1 Quarter
Loss on disposal of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-13.05M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-19.85M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$25.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$14.49M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.14M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-325.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-401.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$860.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-3.38M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-2.92M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$18.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.08M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.43M	USD	1 Quarter
Accrued and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.10M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	-	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-131.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$61.72M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.01M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.49M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$47.29M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$733.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$224.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.56M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.27M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	$20.00M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Payment of finance lease obligation	`FinanceLeasePrincipalPayments`	-	USD	1 Quarter
Payment of finance lease obligation	`FinanceLeasePrincipalPayments`	$30.00K	USD	1 Quarter
Repayments of insurance financing	`RepaymentsOfLongtermLoansFromVendors`	$2.04M	USD	1 Quarter
Repayments of insurance financing	`RepaymentsOfLongtermLoansFromVendors`	-	USD	1 Quarter
Tax withholdings paid for net settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$456.00K	USD	1 Quarter
Tax withholdings paid for net settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.61M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-20.49M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.65M	USD	1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.32M	USD	1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-12.91M	USD	1 Quarter
CASH AND CASH EQUIVALENTS - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.72M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$149.04M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.86M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.72M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$149.04M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.86M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$847.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$870.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$961.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$969.30M	USD	Point-in-time
Stock-based compensation cost	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$471.00K	USD	1 Quarter
Stock-based compensation cost	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$2.49M	USD	1 Quarter
Issuance of equity awards, net	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Issuance of equity awards, net	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Tax withholdings paid for net settlement of equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$456.00K	USD	1 Quarter
Tax withholdings paid for net settlement of equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.61M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-20.38M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-7.80M	USD	1 Quarter
Balance	`StockholdersEquity`	$847.27M	USD	Point-in-time
Balance	`StockholdersEquity`	$870.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$961.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$969.30M	USD	Point-in-time

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