U.S. Markets close in 7 mins

ProPetro: 1Q Earnings Snapshot

MIDLAND, Texas (AP) _ ProPetro Holding Corp. (PUMP) on Tuesday reported first-quarter net income of $69.8 million.

The Midland, Texas-based company said it had profit of 67 cents per share.

The results surpassed Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The oilfield services company posted revenue of $546.2 million in the period, also topping Street forecasts. Twenty analysts surveyed by Zacks expected $524.2 million.

ProPetro shares have increased 80% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.18, an increase of 23% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PUMP at https://www.zacks.com/ap/PUMP