LBRT · Liberty Energy Inc.

Liberty Energy Inc. reported first quarter 2026 results that reflected strong operational execution amid pricing headwinds and winter weather disruptions. Revenue of $1.0 billion increased 4% year-over-year, driven by record pumping efficiencies and high fleet utilization. Net income rose to $23 million ($0.14 EPS) from $20 million in the prior year quarter. However, Adjusted EBITDA declined 25% to $126 million, as pricing pressure and weather impacts weighed on profitability. The company completed $1.3 billion in convertible senior notes offerings, enhancing liquidity to $1.2 billion and funding growth initiatives, including capped call transactions to reduce dilution. Management highlighted accelerating momentum from energy security concerns and growing demand for distributed power solutions, with Liberty Power Innovations positioned to serve hyperscalers. For the second quarter, the company expects sequential revenue growth and improved profitability. A quarterly dividend of $0.09 per share was declared.