It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. In connection with the recognition of a valuation allowance, the Company was also required to remeasure the liability under the tax receivable agreements. 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. dividend. Fully diluted loss per share was $0.03 for the first quarter of 2022 compared to a loss of $0.31 for the fourth quarter of 2021. IR@libertyfrac.com. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Zacks Ranks stocks can, and often do, change throughout the month. These figures are adjusted for non-recurring items. Net loss attributable to controlling and non-controlling interests. Liberty Oilfield Services (LBRT) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.18 per share. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Liberty Energy Inc. (LBRT) - free report >>. We acquired OneStim to strengthen our platform and technology portfolio during a downturn to position us for todays rising tide and all future cycles. Net loss attributable to Liberty Oilfield Services Inc. stockholders $ (55,589 ) $ (38,890 ) $ (37,030 ) $ (179,244 ) $ (115,583 ) Net loss attributable to Liberty Oilfield Services Inc . Operating and finance lease right-of-use assets, Current portion of operating and finance lease liabilities, Current portion of long-term debt, net of discount, Long-term operating and finance lease liabilities, Payable pursuant to tax receivable agreements, Accumulated other comprehensive income (loss), Reconciliation and Calculation of Non-GAAP Financial and Operational Measures, Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA, Depreciation, depletion, and amortization, Loss (gain) on remeasurement of liability under tax receivable agreements, Calculation of Pre-Tax Return on Capital Employed. Restrained global investment since the last oil and gas downturn has led to supply challenges at a time where worldwide demand for energy is growing and expected to surpass pre-pandemic levels in 2022. This compares to loss of $0.29 per share a year ago. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. Delayed quotes by Sungard. This compares to year-ago revenues of $581.29 million. 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. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Liberty Oilfield Services , which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $1.19 billion for the quarter ended September 2022, surpassing the Zacks Consensus Estimate by 13.40%. In 2021, the focus was the integration of OneStim and its customers into Liberty. The monthly returns are then compounded to arrive at the annual return. Liberty revenue increased 16% sequentially as we leveraged our vertically integrated portfolio to better mitigate the early quarter impacts of sand and logistics challenges, notably in the Permian basin. For the last reported quarter, it was expected that Liberty Oilfield Services would post earnings of $0.63 per share when it actually produced earnings of $0.78, delivering a surprise of +23.81%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. This provider of hydraulic fracturing services is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +155.2%. Stock prices can fluctuate wildly on days when the quarterly earnings report is released. The current consensus EPS estimate is $0.55 on $1.06 billion in revenues for the coming quarter and $1.79 on $3.84 billion in revenues for the current fiscal year. Summary Results and Highlights. The severe energy crisis that has wracked Europe over the last several months demonstrates the danger of underinvestment in our industry. Last year we expanded our services to include wireline and became a major sand producer, obtaining two large mines in the Permian Basin. StockInvest.us is a research service that provides financial data and technical analysis of publicly traded stocks. Linde (LIN), another stock in the same industry, has yet to report results for the quarter ended September 2022. 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. The results are expected to be released on July 27.This provider of equipment and services to energy companies is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of +166.7%. However, January was a significant turning point in moving these cost pressures behind us, continued Mr. Wright. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. 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. The term loan requires only a 1% annual amortization of principal, paid quarterly. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 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. One other stock from the same industry, FMC Technologies (FTI), is yet to report results for the quarter ended June 2022. This compares to year-ago revenues of $653.73 million. Total liquidity, including availability under the credit facility, was $269 million. 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. These and other factors could cause our actual results to differ materially from those contained in any forward-looking statements. We present EBITDA and Adjusted EBITDA because we believe they provide useful information regarding the factors and trends affecting our business in addition to measures calculated under GAAP. 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. Adjusted EBITDA is a non-GAAP financial measure. We expect that our investments today will lead to strong returns in the coming years, continued Mr. Wright. The results are expected to be released on July 27. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Item 1A. 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. So, the shares are expected to outperform the market in the near future. This information can give you a slight idea of what you might expect for the next quarter's release. It also offers hydraulic fracturing pressure pumping services, including pressure pumping and pumpdown perforating services, as well wireline services, proppant delivery solutions, data analytics, related goods and technologies. The results are expected to be released on October 27. 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. Liberty Oilfield Services (LBRT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Over the last four quarters, the company has surpassed consensus EPS estimates three times. In the second quarter, we expect approximately 10% sequential revenue growth, driven by increased activity and continued incremental improvement in net service price. Chief Financial Officer Liberty Oilfield Services Inc. (NYSE: LBRT; Liberty or the Company) announced today first quarter 2022 financial and operational results. Adjusted EBITDA is a non-GAAP financial measure. 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. We are encouraged by the progress weve made in the first quarter. In accordance with U.S. GAAP, diluted weighted average common shares outstanding for the three months ended December 31, and September 30, 2021, and December 31, 2020, exclude weighted average shares of Class B common stock (2,581, 1,860, and 21,970, respectively), restricted shares (0, 0, and 79, respectively) and restricted stock units (4,039, 3,256, and 2,507, respectively) outstanding during the period. Factors Likely to Affect Procter & Gamble's (PG) Q2 Earnings, : Virgin Galactic confirms space-tourism flights on track for Q2, Earnings Preview: Procter & Gamble (PG) Q2 Earnings Expected to Decline, Tilray Brands (TLRY) Q2 2023 Earnings Call Transcript, Tilray Brands, Inc. (TLRY) Reports Q2 Loss, Misses Revenue Estimates, Registration on or use of this site constitutes acceptance of our. A Good Enough Start to the Q4 Earnings Season, 4 Sectors & Their ETFs Returning Double-Digits to Start 2023, Top Analyst Reports for Pfizer, Abbott Laboratories & Union Pacific. 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. To read this article on Zacks.com click here. You may use StockInvest.us and the contents contained in StockInvest.us solely for your own individual non-commercial and informational purposes only. Privacy Policy | No cost, no obligation to buy anything ever. The consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Forward-Looking and Cautionary Statements. Liberty Oilfield Services (. Forward-Looking and Cautionary Statements. For the year ended December 31, 2021, and 2020 diluted weighted average common shares outstanding excludes the weighted average shares of Class B common stock (7,052 and 27,427, respectively), restricted shares (0 and 207, respectively) and restricted stock units (3,589 and 2,460, respectively) outstanding during the period. Users should not base their investment decision upon StockInvest.us. Liberty Oilfield Services (LBRT Quick Quote LBRT - Free Report) came out with quarterly earnings of $0.78 per share, beating the Zacks Consensus Estimate of $0.63 per share.This compares to loss . Together with our ongoing development of digiFrac electric fleets, these advancements provide customers with differential frac services. Available frac capacity is nearing full utilization as demand has increased and supply is limited due to continued equipment attrition, labor shortages, supply chain constraints and very low investment in recent years. Liberty Oilfield Services, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $942.62 million for the quarter ended June 2022, surpassing the Zacks Consensus Estimate by 7.76%. Pre-tax Return on Capital Employed is the ratio of pre-tax net loss for the twelve months ended December 31, 2021 to Average Capital Employed. These figures are adjusted for non-recurring items. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. Click Manage settings for more information and to manage your choices. 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. 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. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. Linde (LIN Quick QuoteLIN - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2022. Type a symbol or company name. of an earnings report. Pre-tax Return on Capital Employed is the ratio of pre-tax net income (loss) for the twelve months ended March 31, 2022 to Average Capital Employed. 6 Beds. 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. 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