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Fracking Fracking Drill Rig on the Prairie at Dusk

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Liberty Energy (NYSE:LBRT) +3.7% post-market Wednesday after reporting better than expected Q3 adjusted earnings on an 82% Y/Y rise in revenues to $1.19B, which also exceeded estimates.

Q3 net income totaled $147M, or $0.78/share, compared to net income of $105M in Q2, or $0.56/share, and a net loss of $39M, or a $0.22/share loss, in the year-ago quarter; Q3 adjusted EBITDA of $277M rose 41% from $196M in Q2 and 765% from $32M a year earlier.

Liberty (LBRT) said it “achieved record operational performance while deploying additional fleets in support of long-term customer development plans.”

The company said it expects Q4 results will be relatively flat compared to Q3, as incremental activity from Q3 fleet deployments is offset by normal holiday and weather seasonality.

Liberty (LBRT) shares jumped 5.6% in regular trading after the company reinstated a quarterly dividend.

Liberty Energy’s (LBRT) stock price return shows a 52% YTD increase but just a 6% gain during the past year.


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