Loading...
•
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.
Liberty Energy
Liberty Energy
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.
- Market volatility and economic uncertainty persist.
- The company experienced a net loss for the quarter.