Overview

* Liberty Energy Q3 revenue falls 9% sequentially, missing analyst expectations

* Adjusted EPS for Q3 was -$0.06, missing consensus estimates

* Adjusted EBITDA for Q3 was $128 mln, below analyst expectations

Outlook

* Liberty anticipates improved frac fundamentals later in 2026, assuming supportive commodity prices

* Company plans to increase power generation capacity to over one gigawatt by 2027

* Liberty sees strong demand for next-generation fleets offering fuel savings and efficiencies

Result Drivers

* RECORD PUMPING EFFICIENCY - Liberty achieved highest combined average daily pumping efficiency and safety performance in its history, per CEO Ron Gusek

* TECHNOLOGY INNOVATION - Liberty launched Forge, a large language model for intelligent asset orchestration, enhancing operational efficiencies

* SLOWDOWN - Company achieved revenue of $947 million in the third quarter, despite a slowdown in industry completions activity and market pricing pressure

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $947.39 $975.20

Revenue mln mln (9

Analysts

)

Q3 Miss -$0.06 $0.01 (7

Adjusted Analysts

EPS )

Q3 Net $43.05

Income mln

Q3 Miss $127.67 $145.50

Adjusted mln mln (9

EBITDA Analysts

)

Q3 Capex $113.03

mln

Q3 -$2.41

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil related services and equipment peer group is "buy"

* Wall Street's median 12-month price target for Liberty Energy Inc ( LBRT ) is $13.00, about 8.2% above its October 16 closing price of $11.94

* The stock recently traded at 358 times the next 12-month earnings vs. a P/E of 31 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)