ProFrac Holding (ACDC) Q3 FY2026 earnings: revenue $511 million, up 26.8% on the year

ProFrac Holding Corp. (ACDC) reported revenue of $511 million for Q3 FY2026, the quarter ended 30 September 2026, up 26.8% on the same quarter a year earlier. Net income was -$81 million, and diluted earnings per share $-0.45. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$511 million

+26.8% on the year · +2.6% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-6.7%

-19.5% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$81 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.45

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 narrowed, 1 kept.

Revenue rose modestly sequentially: Revenue was $511.1 million, against $498.1 million in the second quarter and $403.1 million a year earlier. Nine-month revenue was $1,458.8 million.
Adjusted EBITDA fell by $4 million: Adjusted EBITDA was $65.4 million, against $69.4 million in the second quarter. Nine-month Adjusted EBITDA was $188.8 million, against $249.0 million a year earlier.
Free cash flow turned positive: Free cash flow was $13.5 million, against negative $7.9 million in the second quarter. Nine-month free cash flow was negative $19.6 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	511	498	403	+2.6%	+26.8%
Cost of revenue	403	388	324	+3.8%	+24.3%
Gross profit	108	110	79.0	-1.5%	+37.1%
Gross margin	21.2%	22.1%	19.6%
Selling, general and administrative	45.0	43.7	43.0	+3.0%	+4.7%
Operating income	-34.4	-37.9	-78.8
Operating margin	-6.7%	-7.6%	-19.5%
Interest expense	33.4	33.2	34.5	+0.6%	-3.2%
Pre-tax income	-71.0	-71.1	-113
Income tax	3.0	3.6	-20.2	-16.7%
Net income	-80.7	-79.7	-101
Net margin	-15.8%	-16.0%	-25.0%
Diluted EPS	-$0.45	-$0.45	-$0.60

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	51.1	22.9	0.9	+123.1%	+5,577.8%
Capital expenditure	39.7	31.7	34.3	+25.2%	+15.7%
Free cash flow	11.4	-8.8	-33.4
Free cash flow margin	2.2%	-1.8%	-8.3%
Cash from investing	-37.6	-30.8	-30.1
Cash from financing	-7.3	15.3	61.2
Depreciation and amortisation	96.7	97.0	103	-0.3%	-6.1%
Share-based compensation	2.1	3.1	4.2	-32.3%	-50.0%
Diluted shares, weighted	182m	182m	171m	+0.1%	+6.6%
Shares outstanding at period end	182m	182m	181m	0.0%	+0.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	505	542	862	-6.9%	-41.4%
Non-controlling interest	127	103	91.9	+22.9%	+37.9%
Redeemable equity	73.0	71.5	67.4	+2.1%	+8.3%
Debt	1,018	1,043	1,066	-2.4%	-4.5%
Operating lease liabilities	82.3	92.6	110	-11.1%	-25.1%
Other liabilities	689	655	546	+5.1%	+26.2%
Total liabilities and equity	2,494	2,508	2,742	-0.6%	-9.1%
Fixed assets	1,305	1,351	1,568	-3.4%	-16.8%
Goodwill	290	290	301	0.0%	-3.7%
Intangible assets	85.0	93.8	121	-9.4%	-29.6%
Cash and equivalents	43.6	18.8	58.0	+131.9%	-24.8%
Receivables	348	334	269	+4.3%	+29.5%
Inventory	195	175	167	+11.5%	+16.9%
Other assets	227	246	259	-7.7%	-12.4%
Total assets	2,494	2,508	2,742	-0.6%	-9.1%

Questions

What was ProFrac Holding's revenue in Q3 FY2026?

ProFrac Holding (ACDC) reported revenue of $511 million for Q3 FY2026, the quarter ended 30 September 2026, up 26.8% on the same quarter a year earlier.

How much did ProFrac Holding earn in Q3 FY2026?

Net loss for Q3 FY2026 was $81 million, and the diluted loss per share $0.45.

When did ProFrac Holding report Q3 FY2026 results?

ProFrac Holding filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	248	345	590	697	794	858	709	574	495	582	579	575	455	600	502	403	436	450	498	511
Cost of revenue	248	345	590	697	794	852	475	377	323	374	393	391	338	419	375	324	336	354	388	403
Gross profit	0.0	0.0	0.0	0.0	0.1	5.8	235	197	166	208	186	185	117	181	127	79.0	100	95.2	110	108
Gross margin	0%	0%	0%	0%	0%	1%	33%	34%	34%	36%	32%	32%	26%	30%	25%	20%	23%	21%	22%	21%
SG&A	16.3	21.0	83.5	64.5	74.1	77.9	63.5	52.7	60.9	50.6	54.1	51.9	48.0	53.6	51.4	43.0	42.5	43.6	43.7	45.0
Operating income	11.8	30.0	92.5	165	125	107	53.7	20.5	-14.3	39.9	-49.2	-4.3	-46.8	16.0	-58.0	-78.8	-109	-46.4	-37.9	-34.4
Operating margin	5%	9%	16%	24%	16%	12%	8%	4%	-3%	7%	-8%	-1%	-10%	3%	-12%	-20%	-25%	-10%	-8%	-7%
Interest expense	6.7	9.3	13.4	16.3	20.5	34.9	41.0	40.2	38.8	37.6	39.6	40.6	38.8	35.9	35.1	34.5	33.3	32.8	33.2	33.4
Pre-tax income	5.1	20.6	71.3	147	113	66.5	5.0	-24.6	-105	3.3	-89.3	-45.0	-83.8	-15.1	-103	-113	-142	-79.2	-71.1	-71.0
Tax rate	-1%	3%	5%	5%	-3%	10%	192%	n/a	n/a	9%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	5.2	23.7	6.6	44.0	40.9	22.0	-2.9	-18.9	-92.3	1.8	-66.7	-45.2	-105	-17.5	-108	-101	-145	-83.5	-79.7	-80.7
Net margin	2%	7%	1%	6%	5%	3%	-0%	-3%	-20%	0%	-12%	-8%	-23%	-3%	-22%	-25%	-33%	-19%	-16%	-16%
Diluted EPS	n/a	n/a	$0.17	$1.07	$0.82	$0.40	-$0.02	-$0.21	n/a	$0.00	-$0.42	-$0.29	-$0.67	-$0.12	-$0.68	-$0.60	n/a	-$0.47	-$0.45	-$0.45
Operating cash flow	6.2	43.7	40.7	172	159	234	154	124	42.7	79.1	114	98.2	76.5	38.7	100	0.9	49.5	9.3	22.9	51.1
Capital expenditure	16.8	41.5	74.6	123	117	83.2	98.1	52.6	33.1	59.9	61.9	70.0	63.2	52.5	46.5	34.3	36.6	40.7	31.7	39.7
Free cash flow	-10.6	2.2	-33.8	48.8	41.8	150	55.6	71.0	9.6	19.2	51.6	28.2	13.3	-13.8	53.9	-33.4	12.9	-31.4	-8.8	11.4
Shares outstanding	n/a	n/a	n/a	n/a	n/a	159m	159m	159m	160m	160m	160m	160m	160m	160m	160m	181m	181m	181m	182m	182m
Filing	10-K	10-Q	10-K	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.