In the second quarter of 2021, revenue increased 5% to $581 million from $552 million in the first quarter, reflecting the combination of increased activity across all U.S. basins, more than offsetting Canadian spring break-up seasonality events. Net loss included a valuation allowance adjustment of certain deferred tax assets and related TRA impacts, negatively impacting results by a negative $21 billion [Phonetic]. The market expects Liberty Oilfield Services (LBRT) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2019. John Daniel -- Daniel Energy Partners -- Analyst. Zacks->. It seems like some of your peers have gotten some contracts signed up at least optically good economics. Exhibit 4.1 . I think you laid out the three factors, who is the customer; what is the future of that customer; what is the depth of the relationship between Liberty and that customer; what are the economics, both short-term profitability of it, and commitment in visibility, the long-term efficient employment, where we own a frac as many days as possible and get as much done every day as possible. As customers both legacy and new ramped during the quarter, effective completion crew scheduling was challenging with producers and service company dealing with supply chain interruptions, staffing and transportation shortages.

The Liberty team worked hard to welcome a hugely expanded customer portfolio, but we still have the work optimizing our calendar and streamlining service delivery. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Liberty was founded in 2011 with a relentless focus on developing and delivering next-generation technology for the sustainable development of unconventional energy resources in partnership with our customers. I'm so proud of the Liberty team that has navigated the roller coaster of the last 12 months with dedication and focus, as we have ramped up our frac activity and made such great progress in our OneStim acquisition integration [Phonetic]. The additional CPP account ended its second quarter of fiscal 2020 on September 30, 2019, with net assets of $1.2 billion, compared to $0.9 billion at the end of

Today, that discovery is still the heart of the Zacks Rank. During this period, the Zacks Oil and Gas - Field Services industry, which Liberty Oilfield Services falls in, has lost 8.5%. A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. Upon completion, the facility will initially have over 50,000 BPD (800 million gallons per year) of renewable fuel production capacity. Their dedication and commitment to the Liberty family during these trying times was foundational to maintaining our partnerships with customers and suppliers, and also helping other folks navigate a challenging time. Adjusted pre-tax income for Marketing and Other was $402 million in the fourth quarter, a decrease of $52 million from the third quarter. An earnings release will be issued Importantly, digiFrac will also drive ESG objectives for our customers, as they continue to look for ways to minimize their footprint, offering at least 20% less emissions relative to the next best technology in the market. Labor intensive industries, right now, are stressed. But, yes, the interest for digiFrac, number of hands in air will certainly be well above the number of fleets we will build in the near term. And then, last one here. Yes, thank you. The decrease was primarily due to lower unrealized investment gains related to NOVONIX Ltd., partially offset by inventory impacts.

Taxable special items attributable to foreign locations likewise use a local statutory income tax rate. References in the release to total consolidated earnings (loss) refer to net income (loss) attributable to Phillips 66. Chris is also an outdoor enthusiast and a devoted family man. Our team's focus digital technology has been critical to the immense improvements in shale well productivity and efficiency over the last decade, and we continue to strive to advance our customers' ESG goals as well. Refined product exports in the fourth quarter were 166,000 barrels per day (BPD). So, when we think about this, can you maybe talk about how much capital or capex will be required to reactivate some fleets in 2022? Download FREE: How To Profit From Trillions On Spending For Infrastructure >>, Do Not Sell My Personal Information (CA Residents Only). So, are you competing with other industries, or are there just folks trying to look to rejoin the force, but -- or have they found jobs? We worked in that partnership mode and then in partnership mode coming out the other side. Summary Results and Highlights Revenue of $2.5 billion Liberty Media Corporation (Liberty Media”) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) will host a conference call to discuss results for the first quarter of 2023 on Friday, May 5 th at 9:30 a.m. E.T. But, again, I can't give any other specific color. The next question is from Connor Lynagh with Morgan Stanley. Liberty's always had, I think, a great place to work and a great culture.

The reopening of the economy is happening faster than folks are returning to labor force. In October, Phillips 66 entered into an agreement to acquire all of the limited partner interests in Phillips 66 Partners not already owned by Phillips 66 and its affiliates. This opportunity motivate and excites us. September 01, 2021. Hey, thank you, guys. Excluding these items, underlying G&A expense only increased modestly by $1.3 million from the first quarter, despite IT and other costs related to the onboarding of legacy OneStim employees. There were no borrowings drawn on the ABL credit facility, and total liquidity available under the credit facility was $277 million at the end of the quarter. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. The increase was primarily due to higher realized margins and improved volumes, partially offset by higher costs. WebInvestors Heavily Search Liberty Energy Inc. (LBRT): Here is What You Need to Know. We are now starting to see the strength of our business one year out from the depths of the cycle, with the transformative actions we've taken over the past year, including the OneStim acquisition. Atidrip Modak -- Goldman Sachs -- Analyst.

Upon completion, total Sweeny Hub fractionation capacity will be 550,000 BPD. YTD 2021 and Q3 2021 are based on adjusted weighted-average diluted shares of 441,418 thousand and 441,454 thousand, respectively. Why Liberty Oilfield Services Stock Is Skyrocketing Today, Liberty Oilfield Services inc (LBRT) Q3 2021 Earnings Call Transcript, Why Liberty Oilfield Services Stock Is Tumbling Today, Liberty Oilfield Services Inc. (LBRT) Q1 2021 Earnings Call Transcript, Why Liberty Oilfield Services Stock Is Sinking Today, A Big Change May Be Coming to Social Security -- and It's Not a Good One, Buying $1,000 of This 5.6%-Yielding Dividend Stock Would Be a Brilliant Move, Prediction: This Will Be the Largest AI Stock in 2030, 1 Investment Warren Buffett Says Berkshire Hathaway Will Always Own, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com.
Liberty Oilfield Services (LBRT) delivered earnings and revenue surprises of 23.81% and 13.40%, respectively, for the quarter ended September 2022. Liberty Energy Inc. There is a lot of pull right now; the most important thing about a lot of pull right now is,it accelerates the movement in pricing; still not huge, still going to be phased in, not abrupt; but, there is, -- that's a pull for increase in pricing. What are kind of the puts and takes that benefits one versus the other; maybe some of the headwinds on one technology offering versus the other? Technology, backed by the distinguished team of engineers and innovators, has been among the key differentiators that has allowed us to grow into the second largest North American frac company from our founding only a decade ago. Refining had fourth-quarter 2021 pre-tax income of $346 million, compared with a pre-tax loss of $1.1 billion in the third quarter of 2021. 832-765-2297 ET. How would you describe customer appetite for contracts associated with e-frac equipment or your digFrac offering? On January 24, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized).

As we look forward, we are excited by the core strengths of our business, our geographic diversity, and integrated service offerings, supported by our [Indecipherable] electric pump, digiFrac, and [Indecipherable] fleet next-generation dual fuel equipment, unmatched subset of technologies that drive customer engagement, and the unwavering focus on automation and operational efficiency through [Indecipherable]. During 2021, our employees maintained focus on operating excellence, while we delivered record earnings in Midstream, Chemicals, and Marketing and Specialties, and experienced improvement in Refining profitability, said Greg Garland, Chairman and CEO of Phillips 66. digiFrac quickly became the go-to pump for precise rate control on locations. We have a project we talked extensively at Investor Day, we call Project 1440; that's 1440 minutes in a day and every minute, why are we pumping and what do we do about that. There are several million workers still out of the labor force that were in the labor force pre-COVID. Phillips 66 generated $1.8 billion in cash from operations in the fourth quarter of 2021, including cash distributions from equity affiliates of $757 million. All in, we are not yet back to Liberty's usual executional efficiency in the field, but is improving every month. Contents: Prepared Remarks; Questions and Answers; Call From day one we have been committed to reducing our customers cost of producing a barrel of oil. https://www.businesswire.com/news/home/20220126006020/en/, Jeff Dietert (investors) As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please go ahead. But, yes, the pull is significant.

STOCKHOLDERS AGREEMENT . I think here we avoid getting to details. This is the value of owning and developing the technology, to have the motors, the gears, the drivetrain fully integrated into the pump. But, if you look at the multiple customers that had tested and the success that you had on the first pad, would you envision, Chris -- might be too optimistic -- but, a bidding work for that first fleet from some of the customers who tried it? The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued. In Midstream, we began operating the C2G Pipeline and resumed construction of Frac 4 at the Sweeny Hub. You bet.

Liberty Broadband Corporation (Liberty Broadband) (Nasdaq: LBRDA, LBRDK, LBRDP) will host a conference call to discuss results for the first quarter of 2023 on Tuesday, May 2 nd at 4:30 p.m. E.T. We will now begin the question-and-answer session.

Making the world smarter, happier, and richer. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term. Additionally, Phillips 66 closed its public offering of $1 billion in senior unsecured notes due 2052 and used the proceeds to redeem $1 billion in senior notes due April 2022. The economic rebound across North America, coupled with supply constraints in the labor force and some supply chains, have led to a rise in inflation and wage growth.

A swift economic recovery is leading to strong demand for workers across many industries with not enough folks to fill open positions. WebLiberty Oilfield Services (NYSE:LBRT) is set to give its latest quarterly earnings report on Wednesday, 2023-01-25. And of course, we're taking a ton of data on it for how we can tweak in further improvement. We've got our continued progress in major iron or monobore technology, different ways to do that, flexible hoses. The companys consolidated debt-to-capital ratio was 40% and its net debt-to-capital ratio was 34%. And the third is a properly designed next-generation fleet that's more automated and can do more with software behind it, can deliver better operational performance as well. Financial Position, Liquidity and Return of Capital. For the second quarter of 2021, revenue increased 5% to $581 million from $552 million in the first quarter of 2021. Some customer relationships are expanding as we can now work with key customers across North America, given our expanded geographic reach and a premier technology service offering. Excluding Canadian seasonality, revenues were an approximate 9% sequential increase on relatively flat staff fleet activity [Phonetic], and our team works diligently to bring new basin activity online with multiple operators. Early on, we -- our big effort was to convince customers of the benefit of it and we've dual-fuel technology that wasn't fully utilized as dual-fuel. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Refining results in the fourth quarter included $122 million of asset retirement and exit costs related to the shutdown of the Alliance Refinery in connection with plans to convert it to a terminal, as well as $30 million of hurricane-related costs and $5 million of pension settlement expense. Crude utilization rate was 90% and clean product yield was 86% in the fourth quarter. It's just -- for us, everything is always bottom-up. But, yes, any color on the puts and takes in those two scenarios you laid out would be great. But, when you refer to the staff fleets in the low-30s for both Q1, Q2 -- when during Q2 with the Canadian break-up to those, would they still consider staff fleets or do you look to, how did you treat the crews in that? Liberty Broadband Corporation (Liberty Broadband) (Nasdaq: LBRDA, LBRDK, LBRDP) will host a conference call to discuss results for the first quarter of 2023 on Tuesday, May 2 nd at 4:30 p.m. E.T. Our continued progress in major iron or monobore technology, different ways to do that, flexible.! Associated with e-frac equipment or your digFrac offering > Taxable special items attributable to foreign locations likewise a... Like some of your peers have gotten some contracts signed up at optically. 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