Liberty Energy reports Q1 EPS 48c, consensus 54c

Reports Q1 revenue $1.1B, consensus $1.08B. “As we enter the fourth year of what appears to be a durable cycle for North American oil and gas production, consolidation across the energy industry is pushing larger companies to seek technical solutions and expertise to drive value creation. Liberty’s strong first quarter results demonstrate the continued benefits of leading the industry in technology innovation, service quality and investment in talent. Over the last year, the operations teams delivered our highest combined safety performance and average daily pumping efficiency in Liberty’s history,” commented Chris Wright, Chief Executive Officer. “Our 32% Adjusted Pre-Tax Return on Capital Employed for the twelve months ended March 31, 2024, represents a continuance of our history of strong returns. I’m proud of the continued outstanding results our team achieved during a period marked by softening industry activity trends.”