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Mar 31, 2022
Liberty Energy Q1 2022 Earnings Report
Reported strong first quarter results driven by vertical integration strategy and a tightening frac market.
Key Takeaways
Liberty Oilfield Services Inc. reported a 16% sequential increase in revenue to $793 million for Q1 2022. The company experienced a net loss of $5 million, or $0.03 loss per share, but adjusted EBITDA increased significantly to $92 million. The company is changing its name to Liberty Energy.
Revenue increased 16% sequentially to $793 million.
Net loss was $5 million, or $0.03 fully diluted loss per share.
Adjusted EBITDA was $92 million.
Integration of PropX logistics and software solutions improved frac operations.
Liberty Energy
Liberty Energy
Forward Guidance
Liberty expects approximately 10% sequential revenue growth in the second quarter, driven by increased activity and continued incremental improvement in net service price.
Positive Outlook
- Increased activity is expected to drive revenue growth.
- Continued incremental improvement in net service price will contribute to revenue growth.
- Higher margins are expected in the second quarter.
- Vertical integration provides differential execution.
- Customers recognize the importance of having high-quality partners.
Challenges Ahead
- Ongoing inflationary pressures will partially offset margin improvements.
- Labor shortages pose operational challenges.
- Sand supply tightness creates difficulties.
- Logistics bottlenecks impact operations.
- Uncertainty regarding potential future impacts of sanctions and buyer aversion to Russian hydrocarbons presents significant risk to future supply and demand balances.