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Sep 30, 2022
Liberty Energy Q3 2022 Earnings Report
Announced strong third quarter financial and operational results driven by strategic plan execution and robust operational performance.
Key Takeaways
Liberty Energy Inc. reported a strong third quarter with revenue of $1.2 billion, a 26% sequential increase, and net income of $147 million, or $0.78 fully diluted earnings per share. The company successfully deployed additional fleets and repurchased 2.5% of outstanding shares, while also reinstating a quarterly cash dividend.
Revenue of $1.2 billion, increased 26% sequentially and 82% year-over-year
Net income was $147 million, or $0.78 fully diluted earnings per share
Adjusted EBITDA of $277 million, increased 41% sequentially
Repurchased 2.5% of outstanding shares at an average price of $14.89 per share, or $70 million in total
Forward Guidance
Liberty Energy anticipates relatively flat fourth quarter results compared to the third quarter, balancing incremental activity from prior fleet deployments with normal holiday and weather seasonality.
Positive Outlook
- North American market is healthy across the energy value stream
- Environment is strengthening balance sheets
- Environment is beginning to restore investor confidence
- Global energy consumer eyes focused on North America
- North America is the largest and most reliable hydrocarbon supplier
Challenges Ahead
- Rising interest rates
- Elevated inflation levels
- Chinese Covid lockdowns
- OPEC+ preemptive cuts to production quotas
- Impending sanctions on Russian seaborne crude
Historical Earnings Impact
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Avg. Return Before/After Earnings
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