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Earnings Review: Liberty Oilfield Services Inc. (LBRT)

Liberty Oilfield Services Inc. (NYSE: LBRT), a producer of oilfield equipment and technology, reported a 16% increase in sales in the most recent quarter. Due to market conditions, the firm expects double-digit growth in the second quarter.

Liberty Oilfield Services’ first-quarter revenue increased to $793 million, the highest revenue since the company went public four years ago.

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Rising oil prices and the associated increase in demand for hydraulic fracturing equipment and services are the key growth drivers for LBRT. Because the company’s capacity has been nearly completely utilized to date, management anticipates revenue to increase by 10% in the second quarter. As projected, this may result in a rise in margins, which will help to mitigate inflationary pressures.

Last year’s purchases of OneStim and PropX have increased Liberty Oilfield Offerings’ services and helped to mitigate the impact of supply chain limitations. The firm is changing its name to Liberty Energy to reflect the changes and expansion that have occurred since these acquisitions.

Liberty Oilfield Services Inc. (LBRT) is expected to enter another upward cycle in the oil and gas sector, which implies that demand for its services would increase in the coming quarters, according to management.

Liberty Oilfield Services Inc. (LBRT) stock slid -4.15 percent on Friday, closing at $16.85. The stock fluctuated between $16.77 and $18.53 throughout the trading session. The stock has dropped -1.00 percent in the last five sessions and 15.57 percent in the last month but is up 73.71 percent year to date. The 50-day moving average for the company is $14.25, which is higher than the 200-day moving average of $12.10. Furthermore, the stock now has an RSI of 61.48.

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