Liberty Energy Inc Stock Price, News & Analysis

Liberty Energy (NYSE: LBRT) announced that its Founder, Chairman, and CEO Chris Wright has been nominated by President-elect Trump as U.S. Secretary of Energy. The appointment is subject to Senate confirmation. As part of the company's succession plan, upon Wright's confirmation, William Kimble will be appointed as non-executive Chairman and Ron Gusek as CEO. Kimble has been a Board member since 2018 and Lead Director since October 2018. Gusek, who joined Liberty in 2014, has served as President since November 2016.

Liberty Energy Inc. (NYSE: LBRT) reported its Q3 2024 financial results with revenue of $1.1 billion, a 2% sequential decrease. The company achieved net income of $74 million, or $0.44 fully diluted earnings per share, and Adjusted EBITDA of $248 million. Liberty delivered a 22% TTM Adjusted Pre-Tax Return on Capital Employed and distributed $51 million to shareholders through share repurchases and cash dividends.

The company increased its quarterly cash dividend by 14% to $0.08 per share starting Q4 2024. Liberty's fleet technology transition is on track to start 2025 with 90% of fleets primarily powered by natural gas. The company also shipped a fleet to Australia, with completions activity commencing in Q4. Despite a slowing demand environment, Liberty reached new efficiency heights, pumping more hours in a quarter than ever before.

Liberty Energy Inc. (NYSE: LBRT) has announced a 14% increase in its quarterly cash dividend. The Board of Directors has declared a dividend of $0.08 per share of Class A common stock, up from the previous $0.07 per share. This dividend will be paid on December 20, 2024, to shareholders of record as of December 6, 2024.

CEO Chris Wright stated that this increase aligns with Liberty's long-term goal of generating strong total shareholder value, including a balanced return of capital program. The company's focus on investing in innovative businesses and leading-edge technologies is expected to expand its competitive advantage and market opportunities in the coming years.

It's important to note that future dividend declarations are subject to Board approval and may be adjusted based on market conditions and capital availability.

Liberty Energy Inc. (NYSE: LBRT) has announced the timing for the release of its third quarter 2024 financial results. The company will release its results after market close on Wednesday, October 16, 2024, followed by a conference call on Thursday, October 17, 2024, at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time).

The conference call will feature presentations by Chris Wright (CEO), Ron Gusek (President), and Michael Stock (CFO). Interested parties can participate by dialing (833) 255-2827 for domestic callers or (412) 902-6704 for international callers. A live webcast will be available at http://investors.libertyfrac.com for 90 days following the call. A telephone replay will be accessible until October 24, 2024.

Tamboran Resources (NYSE: TBN, ASX: TBN) has commenced its Shenandoah South (SS) Pilot Project drilling program in EP 98. The company has spudded the SS-2H well, targeting the Middle Velkerri B Shale at a depth of approximately 9,910 feet. This will be followed by the SS-3H well, both designed with a 10,000-foot horizontal section and up to 60 stimulation stages each.

The drilling program utilizes Helmerich & Payne's super-spec FlexRig® Flex 3 rig and Liberty Energy's modern frac fleet, recently mobilized from the US. Initial flow test results are expected in Q1 2025, with production from the SS Pilot Project anticipated to commence in H1 2026, subject to approvals. This campaign represents the largest single campaign in the Beetaloo Basin to date.

Liberty Energy Inc. (NYSE: LBRT) reported strong Q2 2024 financial results, with revenue of $1.2 billion (8% sequential increase) and net income of $108 million ($0.64 EPS). Adjusted EBITDA reached $273 million, up 12% sequentially. The company achieved a 28% TTM Adjusted Pre-Tax ROCE and distributed $41 million to shareholders through share repurchases and dividends.

Liberty demonstrated record pumping efficiencies and safety performance, while increasing natural gas utilization in its operations. The company deployed its AI-powered Sentinel logistics platform, reducing proppant delivery downtime by 90% and decreasing truck count and delivery time by 35% each.

Despite industry-wide moderation in completions activity, Liberty expects its financial performance in H2 2024 to be similar to H1. The company remains committed to investing in its portfolio, generating free cash flow, and returning capital to shareholders.

Liberty Energy (NYSE: LBRT) has announced a quarterly cash dividend of $0.07 per share of Class A common stock. The dividend will be paid on September 20, 2024, to shareholders of record as of September 6, 2024. This decision demonstrates the company's commitment to returning value to shareholders. However, it's important to note that future dividend declarations are subject to Board approval and may be adjusted based on market conditions and capital availability. The Board will continue to assess whether dividend declarations are in the best interests of Liberty and its stockholders.

Liberty Energy has announced that it will release its Q2 2024 financial results after market close on July 17, 2024. The company will follow up with a conference call on July 18, 2024, at 8:00 a.m. MT (10:00 a.m. ET) to discuss the results. The call will feature CEO Chris Wright, President Ron Gusek, and CFO Michael Stock. U.S. participants can dial (833) 255-2827, while international callers can use (412) 902-6704 to join the call. A live webcast will be available on the company's investor website and can be accessed for 90 days post-call. A telephone replay will also be available until July 25, 2024, using passcode 3223898.

Oklo Inc. starts trading on the New York Stock Exchange with the ticker symbol 'OKLO' after completing a merger with AltC Acquisition Corp. The company received $306 million in gross transaction proceeds to support its business plan of providing clean, reliable, affordable energy to various markets. Oklo's newly appointed board of directors comprises industry leaders with Sam Altman as chairman. The company aims to drive growth through strategic partnerships and its unique owner-operator model.