Liberty Energy Inc. has released its fourth-quarter and full-year 2025 financial and operational results. The company reported a revenue of $4.0 billion for the year ended December 31, 2025, marking a 7% decrease from $4.3 billion in the previous year. Net income for the same period amounted to $148 million, a significant drop from $316 million in 2024. Adjusted EBITDA for the year was $634 million, down 31% from $922 million in the previous year. Fully diluted earnings per share stood at $0.89, compared to $1.87 in the prior year, while adjusted net income per diluted share saw a decrease from $1.64 in 2024 to $0.15 in 2025.
In the fourth quarter of 2025, Liberty Energy reported revenue of $1.0 billion, a 10% increase from $944 million in the same period in 2024. However, net income for Q4 2025 totaled $14 million, down from $52 million in Q4 2024. The adjusted EBITDA for the fourth quarter of 2025 was $158 million, a 1% increase from the previous year.
Additionally, Liberty Energy announced the distribution of $77 million to shareholders in 2025 through quarterly cash dividends and share repurchases. The company raised its quarterly cash dividend by 13% to $0.09 per share beginning in the fourth quarter of 2025. Liberty repurchased and retired 1,546,138 shares of class A common stock at an average of $15.50 per share, representing 1% of shares outstanding, for approximately $24 million during the year ended December 31, 2025.
Looking ahead, Liberty Energy remains optimistic about its completions business and power growth potential, as U.S. power demand is rising at the fastest pace in decades. The company is focused on capturing structural growth in power demand and plans to deploy approximately 3 GW of power projects by 2029 to deliver sustained, long-duration earnings and high returns for its investors.
On the balance sheet front, as of December 31, 2025, Liberty had cash on hand of $28 million and total debt of $247 million drawn on the secured asset-based revolving credit facility and long-term note facility, resulting in total liquidity of $281 million.
The company will be hosting a conference call to discuss these results on January 29, 2026. The market has reacted to these announcements by moving the company's shares -1.32% to a price of $20.19. For more information, read the company's full 8-K submission here.
