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ProPetro Holding's Q2 net income misses consensus estimates

ProPetro Holding Corp. on Aug. 8 reported second-quarter GAAP net income of $36.1 million, or 35 cents per share, down from $39.1 million, or 45 cents per share, in the same quarter in 2018

The S&P Global Market Intelligence GAAP earnings estimate for the quarter was 67 cents per share.

Revenue for the period was $529.5 million, compared to $459.9 million a year ago.

The company's capital expenditures totaled $161.2 million, compared to $86.1 million in the second quarter of 2018.

ProPetro Holdings is headquartered in Texas and serves upstream oil and gas companies engaged in the production of North American unconventional oil and natural gas resources in the Permian Basin.