Liberty Energy Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 25, 2022 at 05:27 pm
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Liberty Energy Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 942.62 million compared to USD 581.29 million a year ago. Net income was USD 105.16 million compared to net loss of USD 50.56 million a year ago. Basic earnings per share from continuing operations was USD 0.56 compared to basic loss per share from continuing operations of USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 0.55 compared to diluted loss per share from continuing operations of USD 0.29 a year ago.
For the six months, sales was USD 1,735.39 million compared to USD 1,133.32 million a year ago. Net income was USD 99.78 million compared to net loss of USD 84.77 million a year ago. Basic earnings per share from continuing operations was USD 0.54 compared to basic loss per share from continuing operations of USD 0.5 a year ago. Diluted earnings per share from continuing operations was USD 0.52 compared to diluted loss per share from continuing operations of USD 0.5 a year ago.
Liberty Energy Inc. is an integrated energy services and technology company. The Company is focused on providing hydraulic services and related technologies to onshore oil and natural gas exploration and production companies in North America. It offers customers hydraulic fracturing services, together with complementary services, including wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas delivery, data analytics, related goods (including its sand mine operations), and technologies. It primarily provides its services in the Permian Basin, the Williston Basin, the Eagle Ford Shale, the Haynesville Shale, the Appalachian Basin (Marcellus Shale and Utica Shale), the Western Canadian Sedimentary Basin, the Denver-Julesburg Basin, and the Anadarko Basin. The process of hydraulic fracturing involves pumping a pressurized stream of fracturing fluid (typically a mixture of water, chemicals and proppant) into a well casing or tubing.