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Sep 30, 2020
Liberty Energy Q3 2020 Earnings Report
Revenue increased due to customer endorsement and technology offerings, but the company still faced a net loss.
Key Takeaways
Liberty Oilfield Services Inc. reported a 67% increase in revenue to $147 million compared to the previous quarter. The company experienced a net loss of $49 million, or $0.41 loss per share. Total liquidity was $154 million, with no borrowings drawn on the ABL facility.
Revenue increased by 67% from the second quarter of 2020, reaching $147 million.
Net loss totaled $49 million, or $0.41 fully diluted loss per share.
Adjusted EBITDA was $(3) million, including non-cash items of over $4 million.
Total liquidity was $154 million as of September 30, 2020.
Liberty Energy
Liberty Energy
Forward Guidance
Liberty anticipates average active fleets will increase greater than 20% in the fourth quarter, excluding the OneStim® acquisition.