Liberty Energy Inc. has recently released its 10-Q report, providing a detailed look at its financial performance and operations. The company, formerly known as Liberty Oilfield Services Inc., offers hydraulic fracturing services, wireline services, proppant delivery solutions, field gas processing, and compressed natural gas delivery to onshore oil and natural gas exploration and production companies in North America. As of December 31, 2024, Liberty Energy owned and operated a fleet of approximately 40 active hydraulic fracturing units and two sand mines in the Permian Basin.
In the report, Liberty Energy highlighted its business developments, including the acquisition of IMG Energy Solutions, a leading developer of distributed power systems, for approximately $19.6 million. The company's business strategy focuses on technical innovation and strong relationships with customers and suppliers. Liberty Energy also discussed recent trends and outlook in the oil and gas industry, noting a relatively stable North American production amidst dynamic global economic and geopolitical developments.
The report also provided a detailed analysis of the company's results of operations for the three and six months ended June 30, 2025, compared to the same periods in 2024. It showed that Liberty Energy's revenue decreased by $117.4 million, or 10%, to $1.0 billion for the three months ended June 30, 2025, compared to the same period in 2024. For the six months ended June 30, 2025, revenue decreased by $213.0 million, or 10%, to $2.0 billion compared to the same period in 2024.
The cost of services, excluding depreciation, depletion, and amortization, decreased by $23.7 million, or 3%, to $812.1 million for the three months ended June 30, 2025, compared to the same period in 2024. For the six months ended June 30, 2025, cost of services decreased by $44.8 million, or 3%, to $1.6 billion compared to the same period in 2024.
General and administrative expenses were relatively consistent, increasing by $0.6 million, or 1%, to $58.3 million for the three months ended June 30, 2025, compared to the same period in 2024. For the six months ended June 30, 2025, general and administrative expenses increased by $13.4 million, or 12%, to $124.1 million compared to the same period in 2024.
The report also provided details on depreciation, depletion, and amortization expenses, as well as other income and expenses, net income before income taxes, income tax expense, and net income for the respective periods.
Following these announcements, the company's shares moved 1.39%, and are now trading at a price of $13.14. Check out the company's full 10-Q submission here.
