Liberty Oilfield Services Inc. (LBRT) has experienced a decrease of 6.54% in aftermarket following the announcement of the fourth quarter and full-year 2021 results. However, the last trading session closed at $11.77 with a decrease of 4.46%.
Fourth Quarter & Full Year Results in 2021 by LBRT – What’s going on?
LBRT announced fourth-quarter and full-year 2021 results on 8th February 2022. The company recorded net revenue of $2.5 billion and a net loss of about $187 million. Moreover, the adjusted EBITDA came out to be $121 million. The company says that business integrations are typically difficult, but they’re even more difficult this time due to the Covid-affected supply chain and workforce shortages.
The prize, however, was substantial, and the team worked tirelessly to hire approximately 2,000 new employees while continuing to provide exceptional service to all of the clients, both old and new. Lastly, consolidation and transition efforts impacted adjusted EBITDA by more than $20 million in the fourth quarter, according to the estimates.
Now what?
During the year 2021, LBRT broke a number of operational records. Moreover, the merger of OneStim and its clients into Liberty was the main focus in 2021. During a downturn, the company bought OneStim to bolster the platform and technology portfolio, positioning the team for today’s rising tide and all future cycles. Furthermore, the company has experienced two deep downturns in its eleven-year history: 2015 to 2016 and the most recent Covid-induced downturn, still LBRT has completed transformative transactions in both. At Liberty, the team always makes investment decisions with a long-term view in mind.
Third Quarter 2021 Results by LBRT – How was the quarter?
LBRT reported third-quarter 2021 results on 27th October 2021. According to the report, the company experienced revenue of $654 million with a 12% sequential increase. Moreover, the adjusted EBITDA came out to be $32 million. Not only this but the company announced the merger with Proppant Express Investments.
So what?
Strong manufacturing fundamentals and the need for Liberty drove increased activity and progress in the fourth quarter and into 2022. In light of this, Liberty announced the signing of the first two multi-year agreements with long-standing Liberty clients for the deployment of Liberty’s digiFrac electric fleets in 2022. The first purpose-built electric frac fleet’s technological inventiveness and design have been highly accepted by E&P operators, and LBRT is working with them to establish a multi-year deployment strategy.
