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Jun 30, 2024
Liberty Energy Q2 2024 Earnings Report
Delivered strong operating and financial performance, demonstrating the value of Liberty’s competitive advantage.
Key Takeaways
Liberty Energy Inc. reported a revenue of $1.2 billion, an 8% sequential increase, and a net income of $108 million, or $0.64 fully diluted earnings per share for Q2 2024. The company delivered a 28% Adjusted Pre-Tax Return on Capital Employed for the twelve months ended June 30, 2024 and distributed $41 million to shareholders through share repurchases and cash dividends.
Revenue of $1.2 billion, an 8% sequential increase.
Net income of $108 million, or $0.64 fully diluted earnings per share.
Adjusted EBITDA of $273 million, a 12% sequential increase.
Distributed $41 million to shareholders through share repurchases and cash dividends.
Forward Guidance
Liberty anticipates total North American completions activity will be modestly softer in the second half of the year due to budget front-loading by some operators, but expects Liberty’s financial performance to be similar in the second half of the year compared to the first half.
Positive Outlook
- Global oil and gas markets remain constructive on favorable multi-year market fundamentals.
- Rising demand for cost effective, reliable, low emission, power dense solutions.
- Strategic investments deepen portfolio of natural gas fueled pumping and power generation technologies.
- Expect to continue investing in competitively advantaged portfolio.
- Committed to safely and responsibly creating long-term value for partners and shareholders.
Challenges Ahead
- Near term volatility in commodity prices.
- Surprise decision from OPEC+ to gradually unwind voluntary production cuts beginning in October drove oil prices lower.
- Recent reinstatement of some curtailed production has moved natural gas prices downward.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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