Key TakeawaysPresident-elect Trump tapped Liberty Energy CEO Chris Wright as secretary of energy for his second term.Wright also sits on the board of Oklo, a nuclear energy company backed by OpenAI CEO Sam Altman.Shares of both companies rose Monday following Trump's announcement. Shares of Liberty Energy (LBRT) rose Monday after Chief Executive Officer (CEO) Chris Wright was tapped by President-elect Donald Trump to be energy secretary. Liberty Energy is an oilfield services and fracking company founded by ...

It has been about a month since the last earnings report for Liberty Oilfield Services (LBRT) . Shares have lost about 5.3% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Liberty Oilfield Services due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Liberty Energy Q3 ...

Liberty Energy Inc. (LBRT) reported a third-quarter 2024 adjusted net income of 45 cents per share, which missed the Zacks Consensus Estimate of 55 cents. This was primarily due to poor equipment and services' execution, and lower activity in the reported quarter. Additionally, the bottom line declined from the year-ago quarter's reported figure of 86 cents due to a year-over-year increase in costs and expenses. The Denver, CO-based oil and gas equipment company's revenues totaled $1.14 billion, which misse ...

Liberty Energy Inc. (NYSE:LBRT) Q3 2024 Earnings Conference Call October 17, 2024 10:00 AM ET Company Participants Anjali Voria - Director, Investor Relations Chris Wright - Chief Executive Officer Michael Stock - Chief Financial Officer Ron Gusek - President Conference Call Participants Scott Gruber - Citigroup Ati Modak - Goldman Sachs Stephen Gengaro - Stifel Saurabh Pant - BoA Marc Bianchi - TD Cowen Keith Mackey - RBC Capital Markets Jeff LeBlanc - TPH Roger Read - Wells Fargo Waqar Syed - ATB Capital ...

Revenue and Income - Revenue decreased by $77.3 million, or 6.4%, to $1.1 billion for the three months ended September 30, 2024, compared to $1.2 billion for the same period in 2023[88] - Revenue for the nine months ended September 30, 2024, decreased by $301.4 million, or 8.2%, to $3.4 billion compared to $3.7 billion for the same period in 2023[98] - Operating income decreased by $97.9 million, or 47.7%, to $107.3 million for the three months ended September 30, 2024, compared to $205.2 million for the same period in 2023[87] - Net income decreased by $74.8 million, or 50.3%, to $73.8 million for the three months ended September 30, 2024, compared to $148.6 million for the same period in 2023[87] Expenses - Cost of services decreased by $10.0 million, or 1.2%, to $840.3 million for the three months ended September 30, 2024, compared to $850.2 million for the same period in 2023[89] - Cost of services for the nine months ended September 30, 2024, decreased by $113.4 million, or 4.4%, to $2.5 billion compared to $2.6 billion for the same period in 2023[99] - General and administrative expenses increased by $3.6 million, or 6.5%, to $58.6 million for the three months ended September 30, 2024, compared to $55.0 million for the same period in 2023[90] - General and administrative expenses increased by $3.2 million, or 1.9%, to $169.3 million for the nine months ended September 30, 2024, compared to $166.1 million for the same period in 2023[100] - Depreciation, depletion, and amortization expense increased by $17.4 million, or 16.0%, to $126.4 million for the three months ended September 30, 2024, compared to $108.0 million for the same period in 2023[92] - Depreciation, depletion, and amortization expense rose by $69.8 million, or 23.0%, to $372.9 million for the nine months ended September 30, 2024, compared to $303.1 million for the same period in 2023[102] Cash Flow and Investments - Net cash provided by operating activities was $652.1 million for the nine months ended September 30, 2024, a decrease of $67.8 million compared to $719.8 million for the same period in 2023[114] - Net cash provided by operating activities decreased by $67.8 million to $652.1 million for the nine months ended September 30, 2024, compared to $719.8 million for the same period in 2023[115] - Net cash used in investing activities was $455.0 million for the nine months ended September 30, 2024, down from $528.4 million in the prior year, primarily due to the Siren Acquisition and lower proceeds from asset sales[116] - The Company spent $16.1 million on equity investments in Tamboran Resources Corporation, Empire Energy Group Ltd., and Falcon Oil & Gas Ltd. during the nine months ended September 30, 2024, compared to $10.0 million for Oklo Inc. in the prior year[115] - Net cash used in financing activities increased by $2.5 million to $210.8 million for the nine months ended September 30, 2024, primarily due to increased cash paid for finance leases and dividends[116] Taxation - Income tax expense decreased to $81.2 million for the nine months ended September 30, 2024, with an effective rate of 23.5%, down from $151.7 million and an effective rate of 24.6% for the same period in 2023[105] - The effective global income tax rate for the nine months ended September 30, 2024, was 23.5%, down from 24.6% for the same period in 2023[118] - The Company recognized an income tax expense of $81.2 million for the nine months ended September 30, 2024, compared to $151.7 million for the same period in 2023[118] Other Financial Metrics - EBITDA was $741.9 million for the nine months ended September 30, 2024, compared to $939.9 million for the same period in 2023, reflecting a decrease of $198.0 million[110] - Adjusted EBITDA was $765.9 million for the nine months ended September 30, 2024, down from $960.6 million for the same period in 2023, a decrease of $194.7 million[110] Shareholder Activities - The company repurchased and retired shares of Class A Common Stock for $99.1 million during the nine months ended September 30, 2024, under its share repurchase program[113] Foreign Currency and Subsidiary Formation - A foreign currency translation loss of $3.8 million was recorded for the nine months ended September 30, 2024, compared to a loss of $1.6 million for the same period in 2023[121] - The Company formed a subsidiary in Australia during the nine months ended September 30, 2024, which will use the Australian dollar as its functional currency[121] Equipment and Lease Obligations - The Company expanded its equipment lease facilities, resulting in $129.0 million in new finance lease obligations for the nine months ended September 30, 2024[117]

Company Performance - Liberty Oilfield Services reported quarterly earnings of $0.45 per share, missing the Zacks Consensus Estimate of $0.55 per share, and down from $0.85 per share a year ago [1] - The company posted revenues of $1.14 billion for the quarter, missing the Zacks Consensus Estimate by 0.24%, and down from $1.22 billion year-over-year [3] - The earnings surprise for the quarter was -18.18%, and the company has only surpassed consensus EPS estimates once in the last four quarters [2] Market Comparison - Liberty Oilfield Services shares have increased by approximately 9.2% since the beginning of the year, while the S&P 500 has gained 21.9% [4] - The current Zacks Rank for Liberty Oilfield Services is 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $1.06 billion, and for the current fiscal year, it is $2.03 on revenues of $4.43 billion [8] - The outlook for the industry, specifically the Oil and Gas - Field Services sector, is currently in the bottom 29% of Zacks industries, which may impact stock performance [9]

Liberty Energy Inc. Announces Third Quarter 2024 Financial and Operational Results October 16, 2024 Liberty Energy Inc. (NYSE: LBRT; "Liberty" or the "Company") announced today third quarter 2024 financial and operational results. Summary Results and Highlights • Revenue of $1.1 billion, a 2% sequential decrease • Net income of $74 million, or $0.44 fully diluted earnings per share ("EPS") • Adjusted EBITDA of $248 million • Delivered 22% TTM Adjusted Pre-Tax Return on Capital Employed ("ROCE") • Distribute ...

Liberty Energy Inc. (LBRT) is set to release third-quarter results on Oct. 16. The Zacks Consensus Estimate for earnings is pegged at 59 cents per share on revenues of $1.16 billion. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Let's delve into the factors that might have influenced LBRT's performance in the to-be-reported quarter. Before that, it's worth taking a look at the company's performance in the last reported quarter. Highlights of Q2 Earnings In the previous reported q ...

In a volatile oil and energy market, Liberty Energy Inc. (LBRT) has demonstrated resilience, with its share price increasing 10.4% year to date (YTD). This gain significantly outperforms the broader oil and energy sector, which has declined 0.3% in the same timeframe. Moreover, LBRT has outpaced its peers in the oil and gas equipment and services sector, including ProPetro Holding (PUMP) , RPC (RES) and Petrofac (POFCY) . YTD Price Comparison Image Source: Zacks Investment Research Liberty Energy, a leading ...

It has been about a month since the last earnings report for Liberty Oilfield Services (LBRT) . Shares have lost about 8.1% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Liberty Oilfield Services due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Liberty Energy Q2 ...