ProFrac Holding Corp. (NASDAQ:ACDC) Q1 2024 Earnings Call Transcript

When you look at the fleet count on a year-over-year basis, how many of those fleets are simul-frac pumping at higher rates, requiring more redundancy. And I think your line of questioning is exactly right. It’s set up for a tighter market. But what we focus on is working with customers to make sure that they don’t fill that squeeze and making sure that they’re able to accommodate any issues that come along and that they’re not on the wrong end of that trend.

Don Crist: I appreciate the color. I agree. I think if we had a minimal amount of fleet here, we could see a significant uplift in pricing going forward. But I’ll turn it back into the queue.

Matt Wilks : Yes. I’ll say one thing to that as well. What we focused on and what’s so important for our customers is that they see some certainty to their CapEx and some — that they’re working with partners that can deliver them a reliable product at a great price with no surprises. And when you see supply constraints, it’s easy for us to look at that and get really excited about prices going up. But like our customers, stability and reliable cash flows are the most important thing for us. And so when we look at the path forward, DCD as opportunities to create long-lasting partnerships with our customers and deliver them reliable pricing that they can count on. And maybe that takes some of the spike out of the upswing, but it certainly takes a little bit of the bite out of any pullbacks in the cycle.

Operator: Thank you. Ladies and gentlemen, that concludes our question-and-answer session. I’ll turn the floor back to Mr. Wilks for any final comments.

Matt Wilks : Thank you, everybody. We appreciate your time today. Very excited about this quarter, but more excited about what this year brings. And we just thank you for your time, and we look forward to carrying on and continuing these results. So thank you.

Operator: Thank you. This concludes today’s conference call. You may disconnect your lines at this time. Thank you for your participation.