Liberty Energy Inc. has recently released its 10-Q report, providing a detailed look into its financial condition and operations. The company, formerly known as Liberty Oilfield Services Inc., is a leading integrated energy services and technology company that offers hydraulic fracturing services and related technologies to onshore oil and natural gas exploration and production companies in North America. As of December 31, 2024, the company owned and operated a fleet of approximately 40 active hydraulic fracturing fleets and two sand mines in the Permian Basin. Liberty Energy Inc. serves primarily in major oil and gas shale basins in North America and the Northern Territory of Australia.
In the report, Liberty Energy Inc. discusses its business strategy and technical innovation, highlighting the company's focus on providing innovative hydraulic fracturing services and complementary services, including wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, sand mine operations, and technologies to facilitate lower emission completions. The company also talks about its subsidiary, Liberty Power Innovations LLC, which provides integrated alternative fuel and power solutions for remote applications.
The report also provides insights into recent trends and the outlook for the company. It mentions that oil producers opted to moderate activity due to macroeconomic uncertainty, leading to a decrease in revenue for the three months ended September 30, 2025, compared to the same period in 2024. The average domestic onshore rig count for the United States and Canada was 703 rigs reported in the third quarter of 2025, down from the average in the third quarter of 2024 of 772, and up from the average in the second quarter of 2025 of 686, according to a report from Baker Hughes.
The report also includes a detailed discussion of the results of operations for the three months ended September 30, 2025, compared to the same period in 2024. It highlights a decrease in revenue, cost of services, and net income, along with changes in other key financial metrics. For example, revenue decreased by $191.2 million, or 17%, to $947.4 million for the three months ended September 30, 2025, compared to $1.1 billion for the same period in 2024. The cost of services decreased by $70.5 million, or 8%, to $769.8 million for the three months ended September 30, 2025, compared to $840.3 million for the same period in 2024.
The report also provides insights into the results of operations for the nine months ended September 30, 2025, compared to the same period in 2024. It highlights a decrease in revenue, an increase in general and administrative expenses, and changes in other key financial metrics. For example, revenue decreased by $404.2 million, or 12%, to $3.0 billion for the nine months ended September 30, 2025, compared to $3.4 billion for the same period in 2024. General and administrative expenses increased by $13.1 million, or 8%, to $182.4 million for the nine months ended September 30, 2025, compared to $169.3 million for the same period in 2024. Following these announcements, the company's shares moved 28.31%, and are now trading at a price of $15.32. For more information, read the company's full 10-Q submission here.
