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Mar 31, 2021
Liberty Energy Q1 2021 Earnings Report
Reported first quarter results, marked by revenue growth and strategic acquisition, while facing a net loss.
Key Takeaways
Liberty Oilfield Services Inc. reported a revenue of $552 million for Q1 2021, a 114% increase from the previous quarter. The company experienced a net loss of $39 million, or $0.21 loss per share, but Adjusted EBITDA increased to $32 million. The company completed its first full quarter post the OneStim® acquisition, enhancing its service offerings and geographic reach.
Revenue increased 114% to $552 million.
Net loss was $39 million, or $0.21 fully diluted loss per share.
Adjusted EBITDA reached $32 million.
Completed first full quarter after OneStim® acquisition, with integration progressing well.
Forward Guidance
Liberty anticipates continued economic recovery and energy demand growth, supported by vaccine distribution and stimulus measures. The company expects improving pricing dynamics and a tighter market for next-generation equipment, leading to normalized margins in 2022.
Positive Outlook
- Global economic growth expectations are increasingly constructive.
- Energy demand has paralleled the economic recovery.
- Tightening in oil supply and demand is developing.
- E&P companies are maintaining capital discipline.
- Frac industry underinvestment has accelerated attrition of older equipment.
Challenges Ahead
- Risk driven by resurgent virus spread in India, Brazil and several European countries.
- Potential reinstatement of containment measures in some regions.
- Public E&P companies have reached roughly maintenance run-rate frac activity for 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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