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LBRT NYSE· Liberty Energy Inc.
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LBRT NYSE· Liberty Energy Inc.
Earnings report Q4 2023

Liberty Energy Inc. Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

Liberty Energy Inc. reported a significant increase in revenue for the latest quarter. The company's revenue rose by $598.7 million, or 14%, reaching $4.7 billion for the year ended December 31, 2023, compared to $4.1 billion for the previous year. This growth in revenue can be attributed to several factors, including higher service pricing, the reactivation of several fleets not fully reflected in the prior year, and an activity-driven increase in fleet efficiency commensurate with consistent demand for hydraulic fracturing services.

Strengths

Liberty Energy Inc. demonstrated strong financial performance in the latest quarter, with a notable increase in revenue. The company's management attributes this growth to higher service pricing, the reactivation of fleets, and improved fleet efficiency. These factors indicate that Liberty Energy Inc. has effectively capitalized on market demand and implemented strategies to enhance profitability.

Challenges

While Liberty Energy Inc. experienced growth in revenue, it also faced an increase in the cost of services (excluding depreciation, depletion, and amortization). The cost of services rose by $200.3 million, or 6%, reaching $3.3 billion for the year ended December 31, 2023, compared to $3.1 billion for the previous year. This increase in expenses presents a challenge for the company, as it may impact profitability and margins.

Noteworthy

It is worth mentioning that Liberty Energy Inc. successfully completed an initial public offering of its Class A Common Stock on January 17, 2018. The company's Class A Common Stock is traded on the NYSE under the symbol "LBRT." Additionally, as of February 5, 2024, there were 17 stockholders of record for the Class A Common Stock and no stockholders of record for the Class B Common Stock.

Summary

Liberty Energy Inc. delivered a strong performance in the latest quarter, with a significant increase in revenue. The company's management attributes this growth to higher service pricing, fleet reactivation, and improved fleet efficiency. However, the increase in the cost of services presents a challenge for the company's profitability. Overall, Liberty Energy Inc. has demonstrated its ability to capitalize on market demand and implement effective strategies to drive revenue growth.

Source documents

Form 10-K  filed on Feb 08, 2024
43 pages scanned

Reference data

Company financials Q4 revenue 1.07B
Analyst estimates Q4 EPS missed by -29.93%
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