Liberty Energy First Quarter 2024 Earnings: EPS Misses Expectations

Liberty Energy (NYSE:LBRT) First Quarter 2024 Results

Key Financial Results

• Revenue: US$1.07b (down 15% from 1Q 2023).
• Net income: US$81.9m (down 50% from 1Q 2023).
• Profit margin: 7.6% (down from 13% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.49 (down from US$0.92 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Liberty Energy EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%.

Looking ahead, revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Energy Services industry in the US.

Performance of the American Energy Services industry.

The company's shares are up 2.5% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Liberty Energy (1 makes us a bit uncomfortable!) that you should be aware of.

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