NYSE$LBRT
Liberty Energy Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported revenue of $472 million and net income of $2 million for the quarter ended March 31, 2020.
Liberty Oilfield Services Inc. announced first quarter 2020 financial and operational results with revenue of $472 million and net income of $2 million, or $0.02 fully diluted income per share. Adjusted EBITDA was $54 million and annualized Adjusted EBITDA per average active fleet was $9 million. The company ended the quarter with available liquidity of $259 million.
- Revenue grew 19% to $472 million compared to the fourth quarter of 2019.
- Net income was $2 million, or $0.02 per fully diluted share.
- Adjusted EBITDA increased 77% to $54 million sequentially.
- Ended the quarter with available liquidity of $259 million.
Headline financials
Revenue & EPS history
Liberty Energy · Revenue · Quarterly
$472M
Forward guidance
Liberty currently projects to be free cash flow positive for the last three quarters of this year, ending the year with a greater cash balance than at the end of the first quarter.
Tailwinds
- Balance sheet and Liberty culture will allow us the necessary flexibility to navigate this industry disruption.
- Team is strongly focused on preserving our culture and our competitive advantages while always delivering superior service to our customers.
- Working closely with customers to bring innovative engineering to their completion strategies to maximize their return for each precious investment dollar.
- Largest customers are top tier players that we chose to align with because they had strong balance sheets, high quality assets and, most importantly, are managed by great people.
- With the flexible cost structure now in place, Liberty currently projects to be free cash flow positive for the last three quarters of this year.
Headwinds
- Expect very low frac activity in the oil basins in the next few months.
- The toll on separated and present Liberty employees has been significant.
- Unprecedented global oversupply of oil has negatively impacted demand for frac services.
- Suspension of future quarterly dividends until business conditions warrant reinstatement.
- Duration and depth of the oil demand contraction remains uncertain.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+3.5%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+4.0%
Avg return
30 days after
68%
23 / 34 earnings
Positive
+47.3%
Q1 2020
Best reaction
-13.2%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.6% | +12.3% | +8.2% | |
| Q4 2025 | +15.6% | +19.4% | +28.9% | |
| Q3 2025 | +29.1% | +27.2% | +33.3% | |
| Q2 2025 | -2.4% | -5.2% | -4.9% | |
| Q1 2025 | +5.7% | +5.1% | +7.1% | |
| Q4 2024 | -7.1% | -11.4% | -16.4% | |
| Q3 2024 | -7.6% | -11.5% | -14.6% | |
| Q2 2024 | +1.6% | -2.8% | -6.1% | |
| Q1 2024 | +2.4% | +2.5% | +9.7% | |
| Q4 2023 | +11.1% | +12.9% | +18.6% | |
| Q3 2023 | +7.2% | +5.6% | +0.9% | |
| Q2 2023 | -0.7% | +0.8% | +3.8% | |
| Q1 2023 | +2.5% | +6.2% | -0.9% | |
| Q4 2022 | +3.9% | +6.0% | +4.9% | |
| Q3 2022 | +1.2% | +5.8% | +9.3% | |
| Q2 2022 | +14.5% | +17.8% | +31.2% | |
| Q1 2022 | +1.3% | -6.0% | -14.1% | |
| Q4 2021 | -8.2% | -2.2% | +21.3% | |
| Q3 2021 | -12.0% | -16.5% | -35.5% | |
| Q2 2021 | -7.1% | -13.1% | -13.8% | |
| Q1 2021 | +12.2% | +7.6% | +37.7% | |
| Q4 2020 | -1.5% | -12.2% | +6.2% | |
| Q3 2020 | -13.2% | -12.8% | +35.9% | |
| Q2 2020 | -3.9% | -15.8% | -1.0% | |
| Q1 2020 | +47.3% | +30.0% | +64.5% | |
| Q4 2019 | -2.6% | -2.7% | -41.8% | |
| Q3 2019 | +1.4% | +6.2% | -3.2% | |
| Q2 2019 | +8.8% | +1.6% | -17.4% | |
| Q1 2019 | +3.9% | +8.1% | -13.6% | |
| Q4 2018 | +0.6% | -4.3% | -8.7% | |
| Q3 2018 | +11.8% | +16.9% | +2.9% | |
| Q2 2018 | +1.0% | -0.4% | +0.2% | |
| Q1 2018 | +1.3% | +2.8% | -1.2% | |
| Q4 2017 | +0.2% | -3.7% | +3.3% | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — |
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