Q3 25 EPS
$0.26
BEAT +506.25%
Est. $-0.06
Q3 25 Revenue
$947.4M
MISS 1.92%
Est. $965.9M
vs S&P Since Q3 25
+82.1%
BEATING MARKET
LBRT +95.1% vs S&P +13.1%
Market Reaction
Did LBRT Beat Earnings? Q3 2025 Results
Liberty Energy delivered a bruising third quarter, posting earnings of $0.26 per diluted share on revenue of $947.40 million, missing analyst estimates and reflecting the deepest cyclical pressure the North American completions market has seen in yea… Read more Liberty Energy delivered a bruising third quarter, posting earnings of $0.26 per diluted share on revenue of $947.40 million, missing analyst estimates and reflecting the deepest cyclical pressure the North American completions market has seen in years. Revenue fell 17% year-over-year and 9% sequentially, while adjusted EBITDA collapsed 48% from the prior-year period to $127.68 million, as pricing deterioration and softer operator activity combined to squeeze margins across conventional frac fleets. The company swung to an adjusted net loss of $9.54 million, a stark reversal from adjusted net income of $75.88 million a year earlier. Yet beneath the headline pain, Liberty pointed to operational records in pumping efficiency and the rapid expansion of its power generation business, now targeting over one gigawatt of capacity through 2027, as evidence of a structural repositioning underway. Management acknowledged the near-term headwinds but flagged improving frac fundamentals later in 2026 as oversupply conditions ease, and the board underscored its longer-term conviction by raising the quarterly dividend 13% to $0.09 per share.
Key Takeaways
- • Record quarterly pumping efficiency and safety performance
- • Record tons of sand sold from Liberty mines
- • digiPrime fleets set new records for pumping hours, horsepower hours, and proppant volumes pumped
- • Strengthened simulfrac offering with reallocation of horsepower for long-term partners
LBRT YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“Liberty achieved revenue of $947 million and Adjusted EBITDA of $128 million in the third quarter, despite a slowdown in industry completions activity and market pricing pressure. Our team delivered solid operational results, once again delivering the highest combined average daily pumping efficiency and safety performance in Liberty's history. The team remains committed to driving outstanding results for our customers while navigating current market challenges. While we anticipate market headwinds to persist in the near term, we are well positioned to capitalize on opportunities when conditions improve.”
— Ron Gusek, Q3 2025 Earnings Press Release
LBRT Earnings Trends
LBRT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LBRT EPS Trend
Earnings per share: estimate vs actual
LBRT Revenue Trend
Quarterly revenue: estimate vs actual
LBRT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.14 | $0.14 | +203.32% | $1.02B | +6.51% |
| Q4 25 BEAT FY | $-0.17 | $0.08 | +145.90% | $1.04B | +17.79% |
| FY Full Year | — | $0.89 | — | $4.01B | — |
| Q3 25 BEAT | $-0.06 | $0.26 | +506.25% | $947.4M | -1.92% |
| Q2 25 BEAT | $0.14 | $0.43 | +218.52% | $1.04B | +3.87% |
| Q1 25 BEAT | $0.03 | $0.12 | +301.34% | $977.5M | +3.06% |