ProPetro Holding Corp. PUMP reported first-quarter 2020 adjusted net income per share of 21 cents, beating the Zacks Consensus Estimate of 17 cents, attributable to lower cost of services along with better-than-expected pressure pumping revenues. Precisely, this oilfield service provider’s top line of $386.9 million surpassed the Zacks Consensus Estimate of $384 million, driven by operational efficiencies.However, the bottom line declined from the year-ago figure of 67 cents. This underperformance is due to decline in activity levels and pricing. Further, ProPetro’s revenues of $395.07 million lagged the Zacks Consensus Estimate by 2.20%. Moreover, the top line fell 27.7% year over year.Adjusted EBITDA in the first quarter amounted to $74.9 million, decreasing from $150.3 million a year ago.Pressure Pumping DivisionThis Midland, TX-based company through its Pressure Pumping division provides hydraulic fracturing, cementing and acidizing functions. The business accounted for 97.9% of the company's total revenues in the quarter under review. Service revenues were down more than 27% from the year-ago period to $386.9 million as the number of hydraulic fracturing fleets fell significantly.ProPetro Holding Corp. Price, Consensus and EPS Surprise ProPetro Holding Corp. price-consensus-eps-surprise-chart | ProPetro Holding Corp. QuoteCosts & ExpensesProPetro reported cost of services of $300.8 million in the first quarter, down 21.1% from the year-ago quarter. General and administrative expenses came in at $24.9 million, up from $18.5 million in the year-ago period.Balance Sheet & Capital ExpenditureAs of Mar 31, ProPetro had cash and cash equivalents worth $143.7 million while its long-term debt was $110 million. The company’s total debt to total capital was 10.26%. ProPetro also has $50.4 million under its revolving credit facility. Capital expenditure for the March quarter totaled $40.09 million, down 53.45% from the level in first-quarter 2019.GuidanceProPetro anticipates onshore completion activity to continue at a lower rate in the second half of 2020 as the oversupply of crude oil is absorbed by increasing demand as economic activity improves.Zacks Rank & Performance of Other Energy Players ProPetro has a Zacks Rank #3 (Hold). Among other players in the energy sector that already reported first-quarter earnings, the bottom-line results of Cheniere Energy Inc. LNG, Murphy USA Inc. MUSA and Williams Companies Inc. WMB beat the respective Zacks Consensus Estimate by 204.3%, 4.3% and 4%. While Cheniere Energy carries the same Zacks Rank as ProPetro, Williams Companies has a Zacks Rank #2 (Buy) and Murphy sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Zacks Top 10 Stocks for 2020In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.Access Zacks Top 10 Stocks for 2020 today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Williams Companies, Inc. The (WMB): Free Stock Analysis Report Cheniere Energy, Inc. (LNG): Free Stock Analysis Report Murphy USA Inc. (MUSA): Free Stock Analysis Report ProPetro Holding Corp. (PUMP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research