Company Overview - PEC Ltd has been approved for a 100% acquisition by Alliance Energy Services Pte Ltd for a transaction valued at US$160 million, leading to PEC's delisting from the Singapore Stock Exchange [1] - Liberty Energy Solutions Ltd, the majority owner of Alliance, provides energy engineering solutions and proprietary products to oil & gas refineries and petrochemical facilities globally, holding over 200 patents and performing more than 200 plant turnarounds annually for major clients [2] - PEC reported revenue of SGD 391 million and a net profit of SGD 15 million for the year ending December 31, 2024, with a net cash position of SGD 142 million [2] Strategic Alignment - The acquisition aligns with Liberty Energy's strategy to build a global platform for best-in-class energy solutions, leveraging PEC's strong management team and technical expertise [2] - PEC will continue to operate under its current leadership, enhancing Liberty Energy's capabilities in delivering a broader range of engineering services and products [2] Subsidiaries and Operations - Liberty Energy owns two subsidiaries: CR3 Pte Ltd, which specializes in energy engineering solutions across Asia and the Middle East, and ZymeFlow LLC, known for its innovative chemical decontamination solutions [2][4][6] - CR3 has a strong reputation in handling mission-critical reactor catalysts and offers various services including maintenance and EPC solutions [4] - ZymeFlow's product line is 100% biodegradable and aims to help clients meet sustainability goals while optimizing facility performance [6]

Liberty Energy Inc. (LBRT) reported a first-quarter 2025 adjusted net income of 4 cents per share, which marginally beat the Zacks Consensus Estimate of 3 cents. The Denver, CO-based oil and gas equipment company's outperformance indicated operational efficiencies as well as increased utilization of frac and wireline fleets. However, the bottom line underperformed the year-ago quarter’s reported figure of 48 cents due to a decline in service activity.The company's revenues totaled $977.5 million, which beat ...

Revenue and Income - Revenue decreased by $95.7 million, or 9%, to $977.5 million for Q1 2025 compared to $1.1 billion for Q1 2024[129] - Operating income fell by $97.3 million to $18.2 million for Q1 2025 compared to $115.4 million for Q1 2024[128] - Net income decreased by $61.8 million to $20.1 million for Q1 2025 compared to $81.9 million for Q1 2024[128] - EBITDA for the three months ended March 31, 2025, was $165.2 million, a decrease of $73.4 million from $238.6 million in the same period of 2024[140] - Adjusted EBITDA for the three months ended March 31, 2025, was $168.2 million, down $76.6 million from $244.8 million in the prior year[140] Expenses - Cost of services decreased by $21.1 million, or 3%, to $761.6 million for Q1 2025 compared to $782.7 million for Q1 2024[130] - General and administrative expenses increased by 24% to $65.8 million for Q1 2025 compared to $53.0 million for Q1 2024[131] Cash Flow and Investments - Net cash provided by operating activities increased by $32.7 million to $192.1 million for the three months ended March 31, 2025, compared to $159.4 million for the same period in 2024[148] - Cash and cash equivalents increased by $4.1 million to $24.1 million as of March 31, 2025, from $20.0 million as of December 31, 2024[142] - Net cash used in investing activities was $106.2 million for the three months ended March 31, 2025, compared to $142.0 million in the same period of 2024, primarily due to proceeds from the sale of common shares and assets[149] - The Company acquired IMG Energy Solutions for approximately $15.2 million during the three months ended March 31, 2025[149] Acquisitions and New Initiatives - The company completed the acquisition of IMG Energy Solutions for approximately $19.6 million on March 3, 2025[123] - Liberty Power Innovations LLC was launched in early 2023 to support the transition to natural gas fueled technologies[122] Market Conditions and Expectations - The average WTI price for Q1 2025 was $71.78 per barrel, down from $77.50 per barrel in Q1 2024[127] - The average Henry Hub price for Q1 2025 was $4.14 per MMBtu, up from $2.44 per MMBtu in Q1 2024[127] - The company expects modest production growth for 2025, with natural gas fundamentals anticipated to be more favorable due to rising LNG export capacity demand[126] Financing and Credit - As of March 31, 2025, the Company had a revolving line of credit of up to $525.0 million, with $210.0 million outstanding and $139.9 million of remaining availability[143] - The Company expanded its equipment lease facilities, resulting in the addition of $27.7 million in new finance lease obligations during the three months ended March 31, 2025[151] Taxation - The effective global income tax rate for the three months ended March 31, 2025, was 28%, compared to 24% for the same period in 2024[154] Shareholder Actions - The Company repurchased and retired shares of Class A Common Stock for $24.0 million during the three months ended March 31, 2025[146]

Financial Data and Key Metrics Changes - Revenue for the first quarter of 2025 was $977 million, a sequential increase of 4% from $944 million in the prior quarter [30] - Net income decreased to $20 million from $52 million in the prior quarter, while adjusted net income fell to $7 million from $17 million [31] - Adjusted EBITDA increased by 8% to $168 million from $156 million in the prior quarter [31] - General and administrative expenses rose to $66 million from $56 million in the prior quarter, primarily due to stock-based compensation [31][32] - Cash balance at the end of the quarter was $24 million, with net debt increasing to $186 million [33] Business Line Data and Key Metrics Changes - High utilization of track and wireline fleets contributed to improved performance across all business lines [30] - Permian sand mines were fully utilized despite adverse weather conditions and oversupplied market conditions [31] - Growth in CNG fuel delivery was noted, indicating diversification in service offerings [31] Market Data and Key Metrics Changes - The oil and gas industry remains cyclical, with current market conditions influenced by tariff negotiations and OPEC plus production strategies [11][14] - North American producers are evaluating macroeconomic scenarios, but no significant changes in oily customer activity have been observed [16][19] - Natural gas fundamentals are favorable due to rising LNG export capacity demand, which may benefit gas producers [15] Company Strategy and Development Direction - The company is focused on maintaining a strong balance sheet while navigating market uncertainties through greater scale, vertical integration, and technological advancements [12][23] - Strategic investments in equipment technology and digitization are aimed at enhancing operational efficiency and safety [21] - The acquisition of IMG is expected to accelerate entry into the PJM market and expand power services beyond the oil field [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market uncertainties and maintain profitability amid tariff impacts and geopolitical tensions [11][38] - The outlook for the second quarter is strong, with expectations for sequential growth in revenue and profitability [23][36] - Management is closely monitoring market conditions and evaluating macroeconomic scenarios to stay ahead of potential changes in activity [36] Other Important Information - The company launched the Hive, a digital intelligence hub for monitoring frac operations, enhancing real-time decision-making [22] - The average life expectancy of equipment components has significantly increased, demonstrating the effectiveness of predictive maintenance strategies [22] Q&A Session Summary Question: Demand for high-quality assets and pricing discussions - Management noted that while there was a downward trend in pricing, current utilization is based on pricing set during the RFP season, and additional inquiries are coming from existing customers [44][45] Question: Impact of raw material costs on maintenance CAPEX - Management indicated that they do not expect significant changes in raw material pricing, with some costs offset by volume discounts [48][49] Question: Updates on the PowerGen business pipeline - Management expressed excitement about the pipeline of opportunities, which exceeds current capacity, and highlighted advanced conversations with E&P partners [55][56] Question: Full-year guidance and CAPEX - Management confirmed that full-year guidance remains intact, with strong visibility into Q2 performance [59][60] Question: Activity trends with WTI at $60 per barrel - Management suggested that a stable oil price around $60 would lead to modest activity changes, with larger producers likely to maintain their announced CAPEX budgets [110] Question: Flexibility in CAPEX and Digi fleet deliveries - Management confirmed flexibility in adjusting deliveries and capital expenditures based on market conditions [121][102] Question: Attrition rate and reinvestment requirements - Management stated that the company uses a 10% attrition rate and could pause new builds without significantly impacting deployable horsepower [142][143]

Core Insights - Z4 Energy Research has been recognized for its expertise, ranking in the top 2% of financial bloggers and top 5% of overall experts as of January 2021 [1] - The company has been providing energy market insights since 2006, with a focus on oil, natural gas, wind, solar, fuel cells, and other renewables [1] - Z4 Energy Research offers a variety of resources, including weekly slide shows on oil and natural gas inventory reports and daily analyses on individual companies and energy segments [1] Company Offerings - The company posts content six days a week and has been active in the markets since the early 1990s [1] - Z4 Energy Research provides a trading history and insights on buying and selling activities, although it does not offer direct investment advice [1] - The site is fully searchable by ticker and topic, with content available dating back to 2006 [1]

Core Viewpoint - Liberty Oilfield Services reported quarterly earnings of $0.04 per share, exceeding the Zacks Consensus Estimate of $0.03 per share, but down from $0.48 per share a year ago [1][2] Earnings Performance - The earnings surprise for the quarter was 33.33%, with the company previously expected to post earnings of $0.09 per share but actually reporting $0.10 per share, resulting in an 11.11% surprise [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times [2] Revenue Performance - The company posted revenues of $977.46 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.45%, but down from $1.07 billion in the same quarter last year [3] - Liberty Oilfield Services has topped consensus revenue estimates only once in the last four quarters [3] Stock Performance - Shares of Liberty Oilfield Services have declined approximately 42.7% since the beginning of the year, compared to a decline of 8.3% for the S&P 500 [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.12 on revenues of $989.02 million, and for the current fiscal year, it is $0.49 on revenues of $3.99 billion [8] - The outlook for the industry, particularly the Oil and Gas - Field Services sector, is currently in the top 37% of Zacks industries, suggesting a favorable environment for stock performance [9]

Liberty Energy Inc. Announces First Quarter 2025 Financial and Operational Results April 16, 2025 Liberty Energy Inc. (NYSE: LBRT; "Liberty" or the "Company") announced today first quarter 2025 financial and operational results. Summary Results and Highlights "Liberty delivered a solid first quarter, with revenue of $977 million and Adjusted EBITDA of $168 million, and distributed $37 million to shareholders through opportunistic share repurchases and dividends. We saw strong sequential improvement in utili ...

Core Viewpoint - Liberty Energy Inc. (LBRT) is expected to report first-quarter 2025 earnings on April 16, with earnings estimated at 3 cents per share and revenues at $948.8 million, reflecting a significant year-over-year decline in both metrics [1][4]. Group 1: Recent Performance - In the last reported quarter, LBRT's earnings were 10 cents per share, beating the Zacks Consensus Estimate by 1 cent, primarily due to a decrease in costs and expenses year-over-year [3]. - Revenues for the last quarter were $943.6 million, missing the Zacks Consensus Estimate by 3.4% due to soft industry activity [3]. - Over the trailing four quarters, LBRT has beaten the consensus estimate twice and missed it twice, with an average negative surprise of 4.13% [4]. Group 2: Upcoming Quarter Expectations - The Zacks Consensus Estimate for first-quarter 2025 earnings has decreased by 1 cent (25%) to 3 cents per share, indicating a 93.8% year-over-year decline [4]. - Revenue estimates for the upcoming quarter are projected to decline to $919.4 million from $1.1 billion in the previous year, attributed to geopolitical uncertainties, a sluggish completion services market, and lower customer activity levels [5]. - Operating expenses are expected to decrease to $943.4 million, down 1.5% from the previous year, with cost of services anticipated to drop from $782.7 million to $760.2 million [6]. Group 3: Earnings Prediction Model - The Zacks model does not indicate a conclusive earnings beat for LBRT this time, as the Earnings ESP is -5.19%, which suggests a lower likelihood of exceeding earnings expectations [7][8]. - LBRT currently holds a Zacks Rank of 3, indicating a hold position [9].

Core Viewpoint - The market anticipates a year-over-year decline in earnings for Liberty Oilfield Services due to lower revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Liberty Oilfield Services is expected to report earnings of $0.03 per share, reflecting a significant year-over-year decrease of 93.8% [3]. - Projected revenues for the quarter are $948.83 million, which is an 11.6% decline compared to the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 9.3% over the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][10]. - The current Earnings ESP for Liberty Oilfield Services stands at -5.19%, suggesting challenges in meeting consensus estimates [11]. Historical Performance - In the last reported quarter, the company exceeded expectations by posting earnings of $0.10 per share against an estimate of $0.09, resulting in a surprise of +11.11% [12]. - Over the past four quarters, Liberty Oilfield Services has beaten consensus EPS estimates twice [13]. Investment Considerations - The combination of a negative Earnings ESP and a Zacks Rank of 3 makes it difficult to predict an earnings beat for Liberty Oilfield Services [11]. - While an earnings beat can influence stock movement, other factors may also play a significant role in determining stock performance [14][16].

Core Insights - Liberty Energy Inc., Imperial Land Corporation, and Range Resources Corporation have formed a strategic collaboration to develop a state-of-the-art power generation facility in Pennsylvania, aimed at meeting the increasing energy demands of data centers and industrial facilities [1][2][10] Group 1: Project Overview - The collaboration focuses on establishing a cutting-edge power generation facility to address Pennsylvania's growing need for reliable energy, particularly for high-energy industries [2][5] - The facility will utilize Marcellus natural gas, known for its lower emissions profile, ensuring a sustainable energy solution while meeting the evolving needs of industrial operations [4][9] Group 2: Strategic Location - The proposed facility is strategically located in the Fort Cherry Development District, benefiting from proximity to critical infrastructure, including natural gas production and transportation routes [3][11] - This location is expected to enhance the facility's ability to provide efficient and cost-effective energy to businesses in the region [3][11] Group 3: Economic Impact - The collaboration is anticipated to create job opportunities and stimulate local businesses, driving substantial economic growth in Pennsylvania [6][7] - The presence of a reliable power generation facility will attract major data centers and industrial tenants, enhancing the region's energy security [6][8] Group 4: Long-term Vision - The partnership aims to position Pennsylvania as a key player in the energy, technology, and data center sectors, fostering industrial growth and innovation [10][12] - By leveraging the region's natural resources, the collaboration seeks to establish the Fort Cherry Development District as a hub for technology and data center operations [5][12]