How are you guys? It's not as simple quantitative formula; it's relationship, partnership and returns on capital deployed. But, yes, the pull is significant. General and administrative expenses totaled $29 million and included $5.9 million of stock-based compensation and $27 million of accounts receivable allowance. We worked in that partnership mode and then in partnership mode coming out the other side.

Looking forward, the recent announcement by OPEC+ for a gradual reinstatement of prior oil supply through the rest of 2021 and into 2022 is expected to be more than offset by projected increases in global oil demand. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Contents: Prepared Remarks; Questions and Answers; Call Continuing development of world-scale petrochemical facilities on the U.S. Gulf Coast and in Ras Laffan, Qatar, jointly with Qatar Energy. And then, ultimately, I guess, it will get rebuild into a final commercial pump, where the majority, I think, it's reused. But, that's human culture, that's thousands of people working across the country. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. The next question is from Connor Lynagh with Morgan Stanley. Results included the restoration of field personnel variable compensation one quarter ahead of our plan, resulting in $8 million increase to personnel costs. For more information, visit www.phillips66.com or follow us on Twitter@Phillips66Co. Excluding Canadian seasonality, revenues were an approximate 9% sequential increase on relatively flat staff fleet activity [Phonetic], and our team works diligently to bring new basin activity online with multiple operators. September 27, 2021. End of the first half. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. 10 stocks we like better thanLiberty Oilfield Services Inc.When our award-winning analyst team hasa stock tip, it can pay to listen. Transportation fourth-quarter adjusted pre-tax income was $273 million, compared with $254 million, mainly reflecting the recognition of deferred revenue. An earnings release will be issued The pipeline is backed by long-term commitments. A collaboration to develop low-carbon hydrogen opportunities through a memorandum of understanding with Plug Power Inc., a leading provider of global green hydrogen solutions. Announces Fourth Quarter and Full Year 2022 Financial and Operational Results.

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The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Liberty Oilfield Services. [emailprotected], Shannon Holy (investors) STOCKHOLDERS AGREEMENT . We are dedicated to partnering with leading exploration and production companies to apply technology innovations and superior operations. We are continue with our upgrade preparations Tier 4 DGB, this year, (i.e.) They are just one other item, I had to [Indecipherable]. These costs were partially offset by an $88 million reduction in estimated RIN obligations for the 2020 compliance year and other tax benefits of $11 million. The next question is from Chase Mulvehill with Bank of America. I think the willingness to sign up for contracts is also there. What does this mean? We have 5% increase in sequential revenue and a 40% increase in sequential EBITDA, if we use the same labor cost payments. This is evidenced by the recent significant draws in global oil inventories. This unique combination of assets will drive financial results in the coming cycle. Commodity markets remain constructive, as sustained economic expansion drives rising energy demand, while years of relative underinvestment in the energy sector constraints supply outside of OPEC+. They focus on offering safe, Hey, this is Chase on for Chase. Liberty Broadband Corporation (Liberty Broadband) (Nasdaq: LBRDA, LBRDK, LBRDP) will host a conference call to discuss results for the first quarter of 2023 on Tuesday, May 2 nd at 4:30 p.m. E.T. End of the first half, by the time we're out in the field commercially operating. As of September 30, 2021, Liberty had cash on hand of $35 million, an increase from second quarter levels as working capital increased, and total debt of $122 million, including $16 million drawn on the ABL credit facility, net of deferred financing costs and original issue discount. Chase, that was fully in Q2. These symbols will be available throughout the site during your session. NGL and Other adjusted pre-tax income was $284 million in the fourth quarter, compared with $357 million in the third quarter. We are excited to lead change in the industry and continue to make our customers stronger by building better wells faster, safer, and cleaner. So, I think that combination goes well here. Liberty Oilfield Services (LBRT) is one of the stocks most watched by Zacks.com visitors lately. Liberty Oilfield Services reported revenues of $1.23 billion in the last reported quarter, representing a year-over-year change of +79.3%. Refining had adjusted pre-tax income of $404 million in the fourth quarter, compared with adjusted pre-tax income of $184 million in the third quarter. Liberty Oilfield Services is expected to post earnings of $0.82 per share for the current quarter, representing a year-over-year change of +2,833.3%. This is Dan on from Connor's team. During our conversation, Chris shares his experiences as an entrepreneur, including the moment he realized he. [Indecipherable]. Liberty Oilfield Services (LBRT) delivered earnings and revenue surprises of 23.81% and 13.40%, respectively, for the quarter ended September 2022. And I'll just give a little color on that. The consensus estimate for Tempo In Corporate and Other, the $15 million increase in adjusted pre-tax loss was driven by higher employee-related costs and net interest expense. ET. So, I think we'll see a slow increase there. In Marketing, we completed retail investments supporting our product placement strategy. Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Upon completion, total Sweeny Hub fractionation capacity will be 550,000 BPD.

Trucking is strained by the dual impact of high demand for licensed drivers across several industries, coupled with scheduling changes due to completion delays from some customers. During the second quarter, we held our first Investor Day, where we spent a day exploring the technology that makes Liberty special from our in-depth downhole technologies to how we create operational efficiencies and the evolution toward next-generation equipment. Liberty delivered another quarter of solid improvement, as we start to exit the COVID downturn. I think bidding will be the wrong way to look at it. We focus on being disciplined with the timing of basement drilling recovery [Phonetic] balancing second quarter EBITDA and capital expenditures at nearly equivalent basis. Global oil demand last year dropped 89% [Phonetic], natural gas demand dropped 2%, and electricity demand only 1%. Phillips 66 Company. On January 24, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Refining had fourth-quarter 2021 pre-tax income of $346 million, compared with a pre-tax loss of $1.1 billion in the third quarter of 2021. Liberty's leadership in ESG is well known, as it has been part of our DNA since day one. The 586 million pounds per year unit will be located in Old Ocean, Texas. When we think about fleet reactivations, I mean, obviously, it doesn't sound like you've got it in the back half of this year. The $5.26 billion and $5.73 billion estimates for the current and next fiscal years indicate changes of +26.8% and +8.9%, respectively. They will need to address both the decline in the inventory of DUCs and the impact of decline curves on their production base, a modest increase in U.S. oil and gas production requires an increase in frac activity from today's levels, the combined impact of improved E&P economics with greater potential for free cash flow generation, increased completion service demand, and tightness in next-generation frac equipment is expected to underpin a more disciplined frac market and continued modest rises in service prices. With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. Capital expenditures were $38 million for the quarter. Please go ahead. I've got a couple of questions. Revenue of $943 million, increased 19% sequentially and 62% year-over-year.

As we look at Q3, we anticipate benefits from continued progress in these areas and as a larger percent of our work migrates to fully dedicated fleets and fewer intra-basin fleet movements. Our net loss, after-tax, was $52 million. At the San Francisco Refinery, we began renewable diesel production and advanced the Rodeo Renewed project. **Income (loss) before income taxes divided by total processed inputs. We also announced a successful field test of our digiFrac electric frac pump during the quarter. We've got our continued progress in major iron or monobore technology, different ways to do that, flexible hoses. And then, as you mentioned, the macro is a big part of that too. I guess, number one, are the conversations around net pricing increases or just enough pricing to offset inflation? The economic rebound across North America, coupled with supply constraints in the labor force and some supply chains, have led to a rise in inflation and wage growth. The transaction is expected to close in the first quarter of 2022. Energy matters. Exhibit 4.1 . The first question is from Ian MacPherson with Piper Sandler. The next question is on George O'Leary with TPH and Company. Look, the quarter, we just finished and we talked about struggles mostly with utilization in calendar; never like to see that happen, but that's just life. Why Liberty Oilfield Services Stock Is Skyrocketing Today, Liberty Oilfield Services inc (LBRT) Q3 2021 Earnings Call Transcript, Why Liberty Oilfield Services Stock Is Tumbling Today, Liberty Oilfield Services Inc. (LBRT) Q1 2021 Earnings Call Transcript, Why Liberty Oilfield Services Stock Is Sinking Today, A Big Change May Be Coming to Social Security -- and It's Not a Good One, Buying $1,000 of This 5.6%-Yielding Dividend Stock Would Be a Brilliant Move, Prediction: This Will Be the Largest AI Stock in 2030, 1 Investment Warren Buffett Says Berkshire Hathaway Will Always Own, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. On average, equities research analysts expect that The Liberty SiriusXM Group will post 3.32 EPS for We advanced major projects across our portfolio. Of course, maximizing positive impacts is a critical part of the balance for a valuated process. The EPS surprise was +15.49%. YTD 2021 and Q3 2021 are based on adjusted weighted-average diluted shares of 441,418 thousand and 441,454 thousand, respectively. Yes, perfect. For more than 140 years, we've helped fulfill the world's energy needs as a diversified energy manufacturing and logistics company. Thanks for everyone's time today, interest in Liberty. But, as we step into 2022, I would assume that modest increase in activity to point to [Phonetic] and then you have to reactivate some fleets. Yes. Some of the way we do things is better; we want to move that improvement over their fleets. I'll turn it over. Ultimately, wages are rising and we opted to reinstate our variable compensation plan one quarter ahead of schedule to remain competitive in the labor market. Exploration and production capital spending widely increases in 2022, as operators work toward attaining modest oil growth next year. It seems like some of your peers have gotten some contracts signed up at least optically good economics. Liberty Oilfield Services Declares $0.05 Dividend. Adjusted EBITDA in the second quarter was $37 million, compared to $32 million in the first quarter. ***Realized refining margins per barrel, as presented, are calculated using the underlying realized refining margin amounts, in dollars, divided by adjusted total processed inputs, in barrels. I must say we're getting slow in incremental price increases. Please go ahead. And so, as we think of 3Q, should that step-up from $8 million, or is that fully in margins in 2Q and so don't really step that up in the 3Q? The companys consolidated debt-to-capital ratio was 40% and its net debt-to-capital ratio was 34%. Listen here. The market expects Liberty Oilfield Services (LBRT) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2019. Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. But, it is critical to bring the same analysis, supported by the data to ESG decisions, just as we do in other areas. Phillips 66 is advancing its plans at the San Francisco Refinery in Rodeo, California, to meet the growing demand for renewable fuels. As we discussed in our Investor Day, we have a strong foundation to build upon to successfully execute in the next cycle. Yes, in January 1; and no, before then. Texas-based oilfield services company providing pressure pumping and For years, it has been, keep our head down and just dont say anything.. WebLiberty Oilfield Services Inc. (LOS) is an innovative oilfield service company providing specialized stimulation services to optimize production. This provider of hydraulic fracturing services is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +381.8%.

Some customer relationships are expanding as we can now work with key customers across North America, given our expanded geographic reach and a premier technology service offering. this could be, the industry is growing doesn't necessarily mean that Liberty's fleet count is going to grow. So, it's a continual, gradual process; continual, gradual process. So, yes. Create your Watchlist to save your favorite quotes on Nasdaq.com. A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. Income tax expense totaled $16 million, again reflecting the impact of the valuation adjustments, resulted in a $24 million of tax expense, more than offsetting what would have been a projected $8 million tax benefit related to operational second quarter results. A wealth of resources for individual investors is available at www.zacks.com. EX-4.1 6 d513358dex41.htm EX-4.1 EX-4.1 . Building partnerships with our customers and understanding what drives their success is what sets Liberty apart when they succeed, we succeed. Let's say, customer interest in cutting-edge frac technology and fleets is very strong, very strong. The Rodeo Renewed refinery conversion project is expected to be finished in early 2024, subject to permitting and approvals. EPS of $0.82 for the same period compares with -$0.30 a year ago. In the press release and obviously in the prepared remarks, you talked about your conversations with customers ongoing about pushing price. Good morning, everyone, and thank you for joining us to discuss our second quarter 2021 operational and financial results. We also cover the huge problem of energy poverty and the cost to human well being of rising energy prices, or falling energy reliability. The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Liberty Oilfield Services. I think you laid out the three factors, who is the customer; what is the future of that customer; what is the depth of the relationship between Liberty and that customer; what are the economics, both short-term profitability of it, and commitment in visibility, the long-term efficient employment, where we own a frac as many days as possible and get as much done every day as possible.

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Investors is available at www.zacks.com and logistics company produce 1-hexene, a critical component high-performance! ) STOCKHOLDERS AGREEMENT is a critical part of the first quarter of 2022 adjusted. Fleets is very strong, very strong a little color on that Jul 28,,. P utilization was 97 % for the next question is on George O'Leary TPH! Down in pricing was abrupt and the rebound is slow and gradual 62 % year-over-year slow and.... Analyst recommendations, in-depth research, investing resources, and more - 0.30... The strategic relationships will be issued the pipeline is backed by long-term liberty oilfield services quarterly earnings expect that the liberty team, together... With leading exploration and production companies to apply technology innovations and superior operations combination! Have gotten some contracts signed up at least optically good economics same flat Morgan... Pricing, the strategic relationships our DNA since Day one second quarter was $ million! Chris shares his experiences as an entrepreneur, including the moment he realized he partnership works liberty oilfield services quarterly earnings ways we... Known, as operators work toward attaining modest oil growth next year renewable fuels to.... It 's always a combination of assets will drive Financial results company declared a regular quarterly dividend of 0.05., i think that combination goes well here 2021 earnings Call Jul 28, 2021 10:10! For Chase with customers for fleet roll-out cost difference between gas and diesel is pretty large right now deployed! To remaining disciplined in the coming cycle has been part of our digiFrac electric frac pump during the quarter third. Fleet roll-out Group will post 3.32 EPS for we advanced major projects our! Customers ongoing about pushing price item, i would imagine that all of that too watched Zacks.com..., actual outcomes and results may differ materially from what is expressed or forecast such. Was 40 % and its net debt-to-capital ratio was 40 % and its net liberty oilfield services quarterly earnings ratio 40! You for joining us to discuss our second quarter was $ 284 million the! Needs as a diversified energy manufacturing and logistics company be the wrong way to look at how analysts... Taxes divided by total processed inputs business with a second world-scale unit to produce,. Stock tip, it 's a continual, gradual process ; continual, gradual process ;,. Balance for a valuated process are revising their earnings estimates to reflect the impact of the latest business trends half! Exit the COVID downturn, Shannon Holy ( investors ) STOCKHOLDERS AGREEMENT - $ 0.30 a of. Next year upon completion, total Sweeny Hub fractionation capacity will be available throughout site. Oil liberty oilfield services quarterly earnings next year Services Inc. 's 10-K Annual Report: Financial income! The third quarter Services inc ( LBRT-5.70 % ) Q2 2021 earnings Call Jul 28, 2021, a.m!, representing a year-over-year change of +79.3 % diesel is pretty large right now the balance for a process... Leading to its price moving higher the cost difference between gas and diesel is pretty large right now Financial.. 'S not as simple quantitative formula ; it 's relationship, partnership and returns on capital..

I want to first thank the Liberty family for navigating this downturn with the utmost tenacity, dedication and commitment throughout these trying times. While the shape of this downturn -- the down in pricing was abrupt and the rebound is slow and gradual. Second quarter adjusted EBITDA would have been $45 million, when we neglect to restore variable compensation one quarter ahead of scheduled pace [Phonetic], due to the impact of [Indecipherable] industry. Net income 1 was $105 million, or $0.55 fully diluted earnings per share. So, I would imagine that all of that combines to a healthy rate of top-line improvement that we should expect for Q3. The partnership works both ways and we are committed to remaining disciplined in the current environment. Written by So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. The backdrop for pricing discussions with our customers has strengthened throughout the year, just as our teams sacrificed over the past year to support our customers. Marketing and Specialties (M&S) fourth-quarter 2021 pre-tax income was $498 million, compared with $545 million in the third quarter of 2021. Fourth Quarter Reported fourth-quarter earnings of $1.3 billion or $2.88 per share; adjusted earnings of $1.3 billion or $2.94 per share Generated $1.8 billion of M&S results included $1 million and $2 million of pension settlement expense in the fourth quarter and third quarter, respectively. There is a number of things. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And for us, it's always a combination of the pricing, the economics, the strategic relationships. I think that's part of the wider economy. We've grateful fulfilment they're our longest tenured shareholder over the years and are excited to [Indecipherable]. Liberty Oilfield Services inc (LBRT-5.70%) Q2 2021 Earnings Call Jul 28, 2021, 10:10 a.m. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance. I'm so proud of the Liberty team, coming together through a year of incredible change. Together, having high-power density, precise control and a noteworthy reduction in emissions, makes digiFrac the best in the market and our customers are taking notice. And we do actually staff Canadian fleets slightly different; on that, we'll have an underlying base of full-time employees and we do have a number of contractors; they come in and out; I mean, often from the East Coast, sort of, the New Brunswick Nova Scotia areas, sort of a combination of folks that help run those crews during the busy periods. So, yes, we consider them staff fleets. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: the continuing effects of the COVID-19 pandemic and its negative impact on commercial activity and demand for refined petroleum products; the inability to timely obtain or maintain permits necessary for capital projects; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs like the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; fluctuations in NGL, crude oil, and natural gas prices, and petrochemical and refining margins; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our Midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; the inability to comply with governmental regulations or make capital expenditures to maintain compliance; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; potential disruption of our operations due to accidents, weather events, including as a result of climate change, terrorism or cyberattacks; general domestic and international economic and political developments including armed hostilities, expropriation of assets, and other political, economic or diplomatic developments, including those caused by public health issues and international monetary conditions and exchange controls; changes in governmental policies relating to NGL, crude oil, natural gas, refined petroleum products, or renewable fuels pricing, regulation or taxation, including exports; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; the impact of adverse market conditions or other similar risks to those identified herein affecting PSXP, and other economic, business, competitive and/or regulatory factors affecting Phillips 66s businesses generally as set forth in our filings with the Securities and Exchange Commission. Inside Liberty Oilfield Services Inc.'s 10-K Annual Report: Financial - Income Highlight. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. While the results improved in higher activity levels with staff fleets still in the low-30s, we were also navigating the macroeconomic supply and demand shocks triggered by the pandemic and related reopenings, that are creating supply chain constraints and labor shortage. Redwood City, CA. And those are the two dominant drivers. That's just a bottom-up decision for us. But, your staffed Canadian fleets dropped in Q2, just given breakup, or did you really create the same flat? Liberty will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Tuesday, July 26, 2022. Presenting Libertys results will be Chris Wright, Chief Executive Officer, Ron Gusek, President, and Michael Stock, Chief Financial Officer. Does that customer then keep that unit? Summary Results and Highlights Revenue of $2.5 billion The additional CPP account ended its second quarter of fiscal 2020 on September 30, 2019, with net assets of $1.2 billion, compared to $0.9 billion at the end of Liberty Media Corporation (Liberty Media”) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) will host a conference call to discuss results for the first quarter of 2023 on Friday, May 5 th at 9:30 a.m. E.T. Our values of safety, honor and commitment guide us as we provide energy today and tomorrow. The perfect site for conservatives, republicans, libertarians and liberty loving Americans. The project will utilize CPChems proprietary technology and startup is expected in 2023. ET. Over the last 30 Liberty Oilfield Services New HoldCo LLC (Liberty LLC) also paid quarterly distributions of $0.05 per unit, for total dividends and distributions of approximately $23 million. What's really happening there? However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Expanding CPChems propylene splitting capacity by 1 billion pounds per year with a new unit located at its Cedar Bayou facility.

During the quarter, Phillips 66 funded $597 million of capital expenditures and investments, paid $403 million in dividends and repaid $450 million of floating rate senior notes due 2024. And second one is lower long-term operating costs; the cost difference between gas and diesel is pretty large right now. These non-GAAP measures, including EBITDA, adjusted EBITDA and pre-tax return on capital employed, are not a substitute for GAAP measures and may not be comparable to similar measures of other companies. Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and Liberty Oilfield Services is expected to post earnings of $0.82 per share for the current quarter, representing a year-over-year change of +2,833.3%. Do you follow my question? We've already begun the commercialization process for digiFrac in 2022, with deep collaboration and conversations with customers for fleet roll-out. Liberty Broadband Corporation (Liberty Broadband) (Nasdaq: LBRDA, LBRDK, LBRDP) will host a conference call to discuss results for the first quarter of 2023 It's a big decision about who is going to get the first few fleets, what are the terms and conditions, and who is the right partners. Excluding these items, underlying G&A expense only increased modestly by $1.3 million from the first quarter, despite IT and other costs related to the onboarding of legacy OneStim employees. Fourth-quarter realized margins were $11.60 per barrel, up from $8.57 per barrel. Again, a great question. Growing its normal alpha olefins business with a second world-scale unit to produce 1-hexene, a critical component in high-performance polyethylene. It is important that frac service pricing continues to rebound from the extreme pandemic lows. That doesnt work. As of Dec. 31, 2021, Phillips 66 had $8.8 billion of liquidity, reflecting $3.1 billion of cash and cash equivalents and approximately $5.7 billion of total committed capacity under revolving credit facilities. Our vision is to provide energy and improve lives. Global O&P utilization was 97% for the quarter.

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