Liberty Energy Inc

Latest Results (19.05.2026):

This is a summary of Liberty Energy Inc.'s fourth quarter 2025 results and full year 2025 performance. The company reported full-year revenue of $4.0 billion and net income of $148 million ($0.89 diluted EPS), with fourth-quarter 2025 revenue of $1.0 billion and net income of $14 million ($0.08 diluted EPS).

Financial snapshot — FY 2025

Full-year 2025 revenue was $4.0 billion (down 7% YoY). Net income was $148 million (EPS $0.89). Adjusted EBITDA was $634 million (down 31% YoY). Cash Return on Capital Invested (CROCI) was 13%.

Fourth quarter 2025 results

Q4 2025 revenue was $1.0 billion (up ~10% YoY and QoQ). Q4 net income was $14 million (EPS $0.08). Q4 Adjusted EBITDA was $158 million (+1% YoY, +23% QoQ).

Adjusted metrics and profitability trends

Adjusted Net Income for FY 2025 was $25 million (vs. $277 million in 2024); Adjusted Net Income per diluted share was $0.15 (vs. $1.64). Q4 adjusted net income was $8 million.

Capital return to shareholders

Liberty distributed ~$ $77 million to shareholders in 2025 via dividends and repurchases. The company raised its quarterly cash dividend 13% to $0.09 per share (effective Q4 2025). Repurchased ~1.55M shares for ~$24 million in 2025; cumulative repurchases equal 16% of shares since program start, with ~$270 million remaining authorization.

Balance sheet & liquidity

As of December 31, 2025, cash on hand was $28 million, total debt drawn was $247 million, and total liquidity (including ABL availability) was $281 million.

Power platform and commercial wins

Liberty highlighted growth in Liberty Power Innovations (LPI): a 1 GW development agreement with Vantage Data Centers (400 MW firm reservation for 2027) and a 330 MW reservation/ESA for a Texas data center expansion. The company now targets deploying ~3 GW of distributed power projects by 2029.

Operational execution & technology

Management cited AI-driven asset optimization and digiTechnologies improvements that reduced maintenance cost per unit of work by ~14%. LPI offerings (Forte, Tempo, Chorus) are emphasized as core to scaling distributed power deployments for data centers and large customers.

Outlook & near-term drivers

Management expects Q1 2026 headwinds from pricing and winter weather to lower sequential revenue/Adjusted EBITDA, but anticipates stabilization in completions markets and strong long-term growth from data center power demand and LPI project deployments.