Liberty Energy Inc. Announces Third Quarter 2026 Financial and Operational Results
DENVER, October 21, 2026--Liberty Energy Inc. (NYSE: LBRT; "Liberty" or the "Company") today reported third quarter 2026 financial and operational results.
Summary Results and Highlights
Revenue of $1.2 billion, a 26% year-over-year increase
Net loss of $39 million, or $(0.24) fully diluted earnings per share ("EPS") and Adjusted Net Income1 of $10 million, or $0.06 Adjusted Net Income per Diluted Share1
Adjusted EBITDA2 of $142 million
Distributed $15 million to shareholders through cash dividends
Increased quarterly cash dividend by 11% to $0.10 per share beginning fourth quarter of 2026
Executed a strategic development agreement with a leading frontier AI lab and a dedicated infrastructure platform to deliver 1.2 GW of integrated power services at data center campuses
Collaborated with the U.S. Department of Energy's National Laboratory of the Rockies at its advanced grid simulation testbed, successfully validating Liberty's power technologies under real-world grid conditions
Achieved record natural gas substitution across our frac fleets, driven by continued investment in natural gas fueled equipment and optimization through Liberty's digital intelligence layer
"Liberty's completions trajectory has improved meaningfully from early year cyclical lows. Strong customer engagement and strengthening market fundamentals provide a more constructive outlook as we close out the year. Third quarter revenue of $1.2 billion and Adjusted EBITDA of $142 million reflected strong operational execution and modest price increases, partially offset by drilling-related delays and cost inflation headwinds," commented Ron Gusek, Chief Executive Officer. "During the quarter, we delivered significantly lower fuel costs for our customers. Record natural gas substitution of over 60% of the total fuel consumed by our fleets provided annualized fuel savings of over $1 billion for our customers. This achievement reflects continued investment in natural gas fueled equipment and a concerted focus on the digital intelligence layer that drives meaningful operational optimization of equipment and widens the performance gap amongst industry frac fleets."
"In power, we are excited to share that Liberty Power Innovations ("LPI") entered into a strategic development agreement with a leading frontier AI lab and a dedicated infrastructure platform for 1.2 GW of integrated power services at data center campuses. The agreement includes a significant prepayment of capacity fees and targeted execution of the first energy service agreement ("ESA") contract for approximately 500 megawatts ("MW") by December 2026. The agreement also establishes a phased energization schedule from Q4 2027 through Q1 2029 and includes the substantive commercial terms for the additional long-term ESAs. This is the culmination of months of work on engineering and design between our teams, defining the integrated power architecture tailored to the generation, power quality, reliability and dynamic AI load requirements," commented Mr. Gusek. "We see significant opportunity to expand this relationship and are already working together to advance additional projects across other sites, including gas supply, interconnection, permitting and construction planning."