ProPetro Holding Corp. reported fourth quarter 2024 revenue of $321 million, an 11% decrease from $361 million in the third quarter of 2024. The company posted a net loss of $17 million, or $0.17 per diluted share, which was an improvement from the $137 million net loss in the previous quarter. This quarter's net loss included a $24 million noncash impairment expense related to goodwill in its wireline reporting unit.
Adjusted EBITDA for the fourth quarter was $53 million, down from $71 million in the third quarter. Net cash provided by operating activities increased to $38 million from $35 million in the prior quarter. For the full year 2024, ProPetro generated $118 million in free cash flow adjusted for acquisition consideration, a significant increase from $12.8 million in 2023.
The company's full-year 2024 revenue reached $1.4 billion, with Adjusted EBITDA of $283 million. ProPetro has retired 13 million shares, representing approximately 11% of its outstanding common stock, since the inception of its share repurchase program. The company expects to run approximately 14 active frac fleets in the fourth quarter of 2024.
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