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Mar 31, 2024
Liberty Energy Q1 2024 Earnings Report
Liberty Energy's Q1 2024 performance remained stable with consistent revenue and solid profitability, demonstrating resilience in a dynamic market.
Key Takeaways
Liberty Energy reported flat sequential revenue of $1.1 billion for Q1 2024. Net income was $82 million, resulting in earnings per share of $0.48. The company distributed $42 million to shareholders through share repurchases and dividends.
Revenue remained flat sequentially at $1.1 billion.
Net income totaled $82 million, with EPS at $0.48.
Adjusted EBITDA decreased slightly to $245 million.
32% TTM Adjusted Pre-Tax Return on Capital Employed was delivered.
Forward Guidance
Liberty Energy anticipates low double-digit sequential revenue growth in Q2 2024, driven by stable pricing and increased efficiency, leading to improved profitability and strong cash flow generation throughout 2024.
Positive Outlook
- Expected low double-digit sequential revenue growth.
- Stable pricing environment.
- Increased operational efficiency.
- Corresponding improvement in profitability.
- Strong cash flow generation expected in 2024.
Challenges Ahead
- Global oil and gas commodity prices have diverged.
- Natural gas prices have declined due to strong production and mild winter.
- Changes in commodity prices have not materially impacted demand for North American frac services.
- Dependence on North American oil and gas industry.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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