Liberty Energy reports Q1 adjusted EPS 6c , consensus (14c)

Reports Q1 revenue $1.0B, consensus $958.79M. Our first quarter results were driven by outsized demand for Liberty’s premium completions service offering, outstanding operational execution, and technology-driven efficiency gains. Revenue of $1.0B and Adjusted EBITDA of $126M reflected record pumping efficiencies and high fleet utilization while absorbing the full realization of pricing headwinds and winter weather disruptions,” commented CEO Ron Gusek. “Momentum is accelerating, driven by an unprecedented oil and gas supply disruption and renewed focus on the importance of energy security. By strategically investing through the period of completions industry softness, Liberty is well positioned to generate superior returns as the industry strengthens from cyclical lows…Recent events have reinforced the importance of energy diversification for global consumers, and we are proud to support the growth of reliable energy sources worldwide, including through our alliances and investments in Oklo, Fervo, and the Australian Beetaloo shale basin.”