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Jun 30, 2021
Liberty Energy Q2 2021 Earnings Report
Liberty Energy's financial performance improved with increased revenue and Adjusted EBITDA, despite a net loss impacted by a deferred tax valuation allowance.
Key Takeaways
Liberty Energy reported a 5% sequential increase in revenue to $581 million and a 15% sequential increase in Adjusted EBITDA to $37 million. The company experienced a net loss of $52 million, or $0.29 fully diluted loss per share, impacted by the establishment of a deferred tax valuation allowance.
Revenue increased by 5% sequentially to $581 million.
Adjusted EBITDA increased by 15% sequentially to $37 million.
Net loss was $52 million, or $0.29 fully diluted loss per share.
Completed field test of Liberty’s digiFrac pump and released inaugural ESG report.
Forward Guidance
Liberty anticipates a modest increase in frac activity to support production growth in 2022, underpinned by improved E&P economics and increased completion service activity demand. The company is working to balance superior service delivery with managing pandemic-related challenges and recovering returns to an acceptable level.
Positive Outlook
- Global economic growth outlook continues to improve.
- Commodity markets remain constructive as rising energy demand.
- OPEC+ announcement for a gradual reinstatement of prior oil supply cuts.
- E&P capital spending likely increases in 2022.
- Service prices continue to rebound from extreme pandemic lows.
Challenges Ahead
- Global supply chain constraints.
- Virus variant concerns.
- Underinvestment in the energy sector constrains supply.
- Pandemic-driven effects are transitory in nature.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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