(amounts in thousands, except for per share and fleet data), Costs of services, excluding depreciation and amortization shown separately, Gain on remeasurement of liability under tax receivable agreement (1), Less: Net loss attributable to non-controlling interests, Net loss attributable to Liberty Oilfield Services Inc. stockholders. Participants should ask to join the Liberty Oilfield Services call. Liberty Oilfield Services Inc. (NYSE: LBRT; Liberty or the Company) announced today first quarter 2022 financial and operational results. The public operators are maintaining discipline and will show only modest production growth this year, while the private operators are reacting more robustly to strong commodity prices. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. These symbols will be available throughout the site during your session. It is natural for stocks to start to move in either direction a few days before the release So, the shares are expected to outperform the market in the near future. Zacks Investment Research, Plus500. Current P/E ratio: 16.11 | Price (Jan 18, 2023, EOD): $14.75 stocks may very well fall if the investors were expecting more or they believe the next quarter will not be as good. Wall Street analysts are expecting the company to report $738.1 million, an increase of over the prior year quarter when the company reported $552.0 million. Risk Factors included in our Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the SEC on February 24, 2021 and in our other public filings with the SEC. Non-GAAP financial and operational measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. Net loss before income taxes for the year ended December 31, 2021 included non-recurring transaction, severance and other costs of $15.1 million compared to $21.1 million for the year ended December 31, 2020. Net loss attributable to controlling and non-controlling interests. Fully diluted loss per share was $1.03 for the year ended December 31, 2021 compared to a loss of $1.36 per share for the year ended December 31, 2020. Stock prices can fluctuate wildly on days when the quarterly earnings report is released. Liberty Oilfield Services shares have added about 24.2% since the beginning of the year versus the S&P 500's decline of -16.9%. All of this was achieved in challenging times and executed with our best safety performance in Company history, commented Chris Wright, Chief Executive Officer. featured in The Global Fintech Index 2020 as the top Fintech company of the country. New factors emerge from time to time, and it is not possible for us to predict all such factors. Fundamental analysts and value investors will typically hunt for stocks that continue to show good financial Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The report will also indicate a possible This information can give you a slight idea of what you might expect for the next quarter's release. Chief Financial Officer This compares to loss of $0.21 per share a year ago. It offers a range of workforce solutions and services, which includes recruitment and assessment, training and development, career management, outsourcing, and workforce consulting. Liberty Oilfield Services will be looking to display strength as it nears its next earnings release, which is expected to be January 25, 2023. 79% of retail CFD accounts lose money, Liberty Oilfield Services (LBRT) Stock Sinks As Market Gains: What You Should Know, Liberty Oilfield Services (LBRT) Gains But Lags Market: What You Should Know, Liberty Oilfield Services (LBRT) Upgraded to Strong Buy: Here's What You Should Know, Wall Street Analysts Believe Liberty Oilfield Services (LBRT) Could Rally 48.17%: Here's is How to Trade, Liberty Oilfield Services (LBRT) Is Attractively Priced Despite Fast-paced Momentum, Morgan Stanley Keeps Their Buy Rating on Liberty Oilfield Services (LBRT), Here's Why Liberty Oilfield Services (LBRT) is a Strong Growth Stock, Registration on or use of this site constitutes acceptance of our. As of March 31, 2021, Liberty had cash on hand of $70 million, approximately flat from fourth quarter levels, and total debt of $106 million, net of deferred financing costs and original issue . FMC Technologies' revenues are expected to be $1.7 billion, up 1.6% from the year-ago quarter. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. This compares to loss of $0.22 per share a. These figures are adjusted for non-recurring items. Adjusted EBITDA is not presented in accordance with generally accepted accounting principles in the United States (U.S. 22,551 sqft lot. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 205.56%. So, the shares are expected to outperform the market in the near future. The term loan requires only a 1% annual amortization of principal, paid quarterly. This gas supplier is expected to post quarterly earnings of $2.93 per share in its upcoming report, which represents a year-over-year change of +7.3%. A quarter ago, it was expected that this provider of hydraulic fracturing services would post a loss of $0.16 per share when it actually produced a loss of $0.03, delivering a surprise of 81.25%. The presentation of non-GAAP financial and operational measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with U.S. GAAP. Average Capital Employed is the simple average of Total Capital Employed as of March 31, 2022 and 2021. Liberty is headquartered in Denver, Colorado. The current consensus EPS estimate is $0.25 on $945.6 million in revenues for the coming quarter and $0.72 on $3.56 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. Business integrations are always challenging, this time exacerbated by Covid-impacted supply chain and difficult labor challenges. Adjusted EBITDA is not presented in accordance with generally accepted accounting principles in the United States (U.S. Liberty Oilfield Services Inc. Market Cap $2B Today's Change (7.39%) $0.95 Current Price $13.80 Price as of July 26, 2022, 4:00 p.m. E&P operators are responding to oil and gas price signals. Last year we expanded our services to include wireline and became a major sand producer, obtaining two large mines in the Permian Basin. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Announcement of earnings for a stock, particularly for well followed large-capitalization stocks, can move the market. Todays operational challenges include labor shortages, sand supply tightness and logistics bottlenecks. Net loss1 (after taxes) totaled $5 million for the first quarter of 2022 compared to net loss1 (after taxes) of $57 million in the fourth quarter of 2021. 303-515-2851 Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. For the fiscal year, analysts expect a profit per share of $0.023, compared to $-1.014 in the same period last year. financial data for more than 25 000 publicly traded companies based on our calculated Liberty Oilfield Services shares have added about 58.8% since the beginning of the year versus the S&P 500's decline of -22%. Earnings reports generally provide an update of all three financial statements, including the income statement, Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. 16 analysts predict losses of $0.161 per share compared to losses of $0.210 per share in the same quarter of the previous year. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. We enhanced our technological advantages through the acquisition of PropX with wet sand handling and industry-leading last-mile proppant delivery solutions. To learn more, click here. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. Users should not base their investment decision upon StockInvest.us. of an earnings report. Drilled but uncompleted well inventory has stabilized after a steep, continuous decline from pandemic-elevated levels. Find out more about how we use your information in our privacy policy and cookie policy. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. Liberty Oilfield Services will report earnings from the most recent quarter on April 20. Terms of Use and Privacy Policy. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. This earnings release includes unaudited non-GAAP financial and operational measures, including EBITDA, Adjusted EBITDA and Pre-Tax Return on Capital Employed. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Announces Third Quarter 2022 Financial and Operational Results, Fourth Quarter 2022 Earnings Conference Call, Third Quarter 2022 Earnings Conference Call, View our leaders, Board of Directors, Committees and Governance Documents. Net capital expenditures presented above include investing cash flows from purchase of property and equipment, excluding acquisition, net of proceeds from the sales of assets. Liberty is headquartered in Denver, Colorado. Paterna House / Villa. In connection with the recognition of a valuation allowance, the Company was also required to remeasure the liability under the tax receivable agreement resulting in a gain. Presenting Libertys results will be Chris Wright, Chief Executive Officer, Ron Gusek, President, and Michael Stock, Chief Financial Officer. We define Adjusted EBITDA as EBITDA adjusted to eliminate the effects of items such as non-cash stock based compensation, new fleet or new basin start-up costs, fleet lay-down costs, costs of asset acquisitions, gain or loss on the disposal of assets, bad debt reserves and non-recurring expenses that management does not consider in assessing ongoing performance. Click Manage settings for more information and to manage your choices. Want the latest recommendations from Zacks Investment Research? Together with our ongoing development of digiFrac electric fleets, these advancements provide customers with differential frac services. Adjusted EBITDA2 decreased to $21 million from $32 million in the third quarter. Although Russian export volumes of oil and gas have been only modestly impacted so far, uncertainty regarding potential future impacts of sanctions and buyer aversion to Russian hydrocarbons presents significant risk to future supply and demand balances. Here's what investors need to know before the announcement. These and other factors could cause our actual results to differ materially from those contained in any forward-looking statements. On April 20, Liberty Oilfield Services will be reporting Q1 earnings. Liberty Oilfield Services shares have added about 58.8% since the beginning of the year versus the S&P 500's decline of -22%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Net loss before income taxes totaled $57 million for the fourth quarter of 2021 compared to net loss before income taxes of $39 million for the third quarter of 2021. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this earnings release will not be achieved. Liberty Energy. The consensus EPS estimate for the quarter has been revised 2.3% lower over the last 30 days to the current level. In the second quarter, we expect approximately 10% sequential revenue growth, driven by increased activity and continued incremental improvement in net service price. Liberty Oilfield Services (LBRT) came out with quarterly earnings of $0.78 per share, beating the Zacks Consensus Estimate of $0.63 per share. We define Adjusted EBITDA as EBITDA adjusted to eliminate the effects of items such as non-cash stock based compensation, new fleet or new basin start-up costs, fleet lay-down costs, costs of asset acquisitions, gain or loss on the disposal of assets, bad debt reserves, transaction, severance, and other costs, the loss or gain on remeasurement of liability under our tax receivable agreements and other non-recurring expenses that management does not consider in assessing ongoing performance. These forward-looking statements are identified by their use of terms and phrases such as may, expect, estimate, outlook, project, plan, position, believe, intend, achievable, anticipate, will, continue, potential, likely, should, could, and similar terms and phrases. (Find current average P/E ratios for all sectors below). Total liquidity, including availability under the credit facility, was $269 million. This earnings release includes unaudited non-GAAP financial and operational measures, including EBITDA, Adjusted EBITDA and Pre-Tax Return on Capital Employed. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Ahead of this earnings release, the estimate revisions trend for Liberty Oilfield Services: favorable. We expect that our investments today will lead to strong returns in the coming years, continued Mr. Wright. While Liberty Oilfield Services has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? The company has topped consensus revenue estimates four times over the last four quarters. 6 Beds. We are benefiting from increased pricing in 2022, driven by a pass-through of inflationary costs and higher net service pricing. Sales estimates average $3.37 billion, after the previous year saw $ 2.47 billion. To read this article on Zacks.com click here. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the top 8% of the 250 plus Zacks industries. $987,652. Total liquidity, including availability under the credit facility, was $222 million as of March 31, 2022. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Linde (LIN), another stock in the same industry, has yet to report results for the quarter ended September 2022. The information above includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 4 Baths. Create your Watchlist to save your favorite quotes on Nasdaq.com. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the top 8% of the 250 plus Zacks industries. Adjusted EBITDA is a non-GAAP financial measure. We, Yahoo, are part of the Yahoo family of brands. ET LBRT earnings call for the period ending June 30,. The company has topped consensus revenue estimates four times over the last four quarters. For more information about Liberty, please contact Investor Relations at IR@libertyfrac.com. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. dividend. We expect continued modest rises in frac pricing in subsequent quarters. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Liberty will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Wednesday, February 9, 2022. In connection with the recognition of a valuation allowance, the Company was also required to remeasure the liability under the tax receivable agreements. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Analysts estimate . This compares to loss of $0.29 per share a year ago. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 2021 was a record year for Liberty work performed whether measured by revenues, frac stages or pounds of sand pumped. Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Receive SEC Filings, Events, Press Releases and Stock Price Alerts. Net loss attributable to Liberty Oilfield Services Inc. stockholders per common share: Weighted average common shares outstanding: During the second quarter of 2021, the Company entered into a three-year cumulative pre-tax book loss driven primarily by Covid-19 which, applying the interpretive guidance to Accounting Standards Codification Topic 740 - Income Taxes, required the Company to recognize a valuation allowance against certain of the Companys deferred tax assets. Liberty Energy Inc. (LBRT) - free report >>. Stocks moving after hours: Alcoa, Discover, Vroom, For-profit schools appeal student loan discharge settlement for 200,000 borrowers, Microsoft layoffs a 'rip the Band-Aid off' moment: Analyst Dan Ives, British Columbia reaches deal with First Nations in Canada's Montney shale play, Two Fed Voters Favor Downshift to Quarter-Point Rate Hikes. 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