Do you follow my question? Here's what investors need to know before the announcement. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. Good morning and welcome to the Liberty Oilfield Services Second Quarter 2021 Earnings Conference Call. In early next year [Phonetic], it's a great for both sides on the learning, as we say. 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. 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. ], it has been part of our field operations, very tight right now for capacity... 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Our vision is to provide energy and improve lives. [emailprotected]. Liberty was recently featured on Military Makeovers Operation Career, a show that travels the country, capturing stories of veterans transitioning out of the military and back to civilian life. Income (Loss) to Adjusted Pre-Tax Income (Loss). Inside Liberty Oilfield Services Inc.'s 10-K Annual Report: Financial - Income Highlight. But, yes, it's very -- really exciting times at the moment as far as having the, what we think is actually by far way the base technologies in both the flexible dual fuel and the very large fewer new generation design for electricity comb. In 2021, Phillips 66 generated $6.0 billion in cash from operations, funded $1.9 billion in capital expenditures, distributed $1.6 billion to shareholders and paid down $1.5 billion in debt. OAK BROOK, Ill. , April 6, 2023 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE: THS) will host an audio webcast of its first quarter earnings results conference call on Monday, May 8, 2023 , at 8:30 a.m. 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 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. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: So, I just wanted to ask -- so, as you laid out in the press release that OneStim is kind of transitioning from the integration phase to the operational phase. Thanks for everyone's time today, interest in Liberty. It seems like some of your peers have gotten some contracts signed up at least optically good economics. So, pricing is coming through not hugely in Q2. NEC Oil Field Services; Business data Estimated number of employees: 1 to 4: Annual sales estimate: 0 City / suburb: Oklahoma City, OK: County: While the shape of this downturn -- the down in pricing was abrupt and the rebound is slow and gradual. In Chemicals, CPChem progressed a portfolio of growth and optimization opportunities, including expansion of its normal alpha olefins business and propylene splitting capacity. DENVER -- (BUSINESS WIRE)-- Liberty Oilfield Services Inc. (NYSE: LBRT) (Liberty or the Company) announced today fourth quarter and full year 2021 financial and operational results. STOCKHOLDERS AGREEMENT . And then, how would you describe what drives the customer decision to pursue an e-frac solution or a Tier 4 DGB solution? But, it's incredibly important; and again, thrilled by the humans, thrilled by the new learnings. Over the last 30 days, the Zacks Consensus Estimate has changed +0.3%. Title. The Motley Fool has a disclosure policy. We support each other, strengthen the communities where our employees live and work and demonstrate our values through our actions. 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. What does this mean? Phillips 66 generated $1.8 billion in cash from operations in the fourth quarter of 2021, including cash distributions from equity affiliates of $757 million. Some of the way we do things is better; we want to move that improvement over their fleets. Atidrip Modak -- Goldman Sachs -- Analyst. Net income 1 was $105 million, or $0.55 fully diluted earnings per share. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Liberty Oilfield Services Inc.wasn't one of them! It's not as simple quantitative formula; it's relationship, partnership and returns on capital deployed. Impacts from lower market crack spreads were more than offset by lower RIN costs from a reduction in the estimated 2021 compliance year obligation and lower RIN prices, as well as favorable inventory impacts and improved clean product differentials. The companys consolidated debt-to-capital ratio was 40% and its net debt-to-capital ratio was 34%. But, it is critical to bring the same analysis, supported by the data to ESG decisions, just as we do in other areas. As the price is meaningful enough and the customer is the right customer, we will reactivate. Recent activities include: Later today, members of Phillips 66 executive management will host a webcast at noon EST to discuss the companys fourth-quarter performance and provide an update on strategic initiatives. As such, recalculated per barrel amounts using the rounded margins and barrels presented may differ from the presented per barrel amounts. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Calfrac Well Services Ltd. 2023 First Quarter Earnings Release, Conference Call and Webcast. 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%. For years, it has been, keep our head down and just dont say anything.. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.22. We had oil prices just collapse. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.31 billion. This opportunity motivate and excites us. The next question is from Chase Mulvehill with Bank of America. Excluding working capital impacts, operating cash flow was $1.4 billion. Look, I'll on start with the human side, always the most important side. In the case of Liberty Oilfield Services, the consensus sales estimate of $1.26 billion for the current quarter points to a year-over-year change of +59.1%. We focus on being disciplined with the timing of basement drilling recovery [Phonetic] balancing second quarter EBITDA and capital expenditures at nearly equivalent basis. Capital expenditures were $38 million for the quarter. As people rebound from COVID, they bring with desire to better their lives and visit their families and friends. So, those are the three factors in varying degree that drive interest in the technology. [Indecipherable]. There were no borrowings drawn on the ABL credit facility, and total liquidity available under the credit facility was $277 million at the end of the quarter. Click here to see the values of some of the valuation metrics that have driven this grade. We are excited about the future of energy and helping the world move forward.
They are just one other item, I had to [Indecipherable]. Importantly, we also recognize that our employees make significant sacrifices throughout the last year. I'll turn it over. Global oil demand last year dropped 89% [Phonetic], natural gas demand dropped 2%, and electricity demand only 1%. WebLiberty Oilfield Services Inc. Labor intensive industries, right now, are stressed. Today, you can download 7 Best Stocks for the Next 30 Days. For the current fiscal year, the consensus earnings estimate of $3.43 points to a change of +62.6% from the prior year. During our conversation, Chris shares his experiences as an entrepreneur, including the moment he realized he. The key question now is: What could be the stock's future direction? 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. But, yes, it's just a challenge we haven't faced at this level before. Liberty Oilfield Services Inc. (LBRT-2.08%) Q4 2020 Earnings Call Feb 5, 2021, 10:00 a.m. And for us, it's always a combination of the pricing, the economics, the strategic relationships. We progressed strategic initiatives to position Phillips 66 for a lower-carbon future, including investments in NOVONIX and Shell Rock Soy Processing. By looking at the data, we know progress of the human condition has been enabled by the surge in plentiful, affordable energy, saving lives, and it is important to recognize the unintended consequences of climate change mitigation with a realistic lens. Learn More, Liberty Oilfield Services inc(LBRT -1.85%)Q22021 Earnings CallJul 28, 2021, 10:10 a.m. So, it's a very specific project that Ron and this team are working on that. You sent it back to Magnolia for touch up work or does customer take it to test it out? Some of the way they do things are better than the way we do things and we want to move those procedures over to our fleets. It is important that frac service pricing continues to rebound from the extreme pandemic lows. Chase, that was fully in Q2. 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. Labor market, particularly in the area of our field operations, very tight right now. Copyright Liberty Oilfield Services LLC 2018 |, 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. Written by Download a PDF copy of the Liberty Energy 2022 Annual Report here. So, on the missing workforce comment [Phonetic]-- hey -- could you provide some color on that. 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%. 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. That's just a bottom-up decision for us. Chemicals results in the fourth quarter included a $14 million benefit from insurance proceeds associated with winter-storm-related damages, partially offset by a $2 million reduction to equity earnings for pension settlement expense. Upon closing, the Partnership will be a wholly owned subsidiary of Phillips 66 and will no longer be a publicly traded partnership. Please go ahead. One is lower emissions in a smaller environmental footprint; certainly, our industry has been moving forward in that direction for a decade, this is that continued evolution. We've already begun the commercialization process for digiFrac in 2022, with deep collaboration and conversations with customers for fleet roll-out. And I'll just give a little color on that. Marketing and Specialties (M&S) fourth-quarter 2021 pre-tax income was $498 million, compared with $545 million in the third quarter of 2021. WebYuMe. Financial Position, Liquidity and Return of Capital. An earnings release will be issued We directly discuss the role of fossil fuels in modern society and how are we as a company advancing human liberty. In the cold winter, that's a different algorithm, a different answer than it is in heat, or dusty, or windy; all different conditions. Download. At the San Francisco Refinery, we began renewable diesel production and advanced the Rodeo Renewed project. CAUTIONARY STATEMENT FOR THE PURPOSES OF THE SAFE HARBOR PROVISIONS Revenue in the second quarter of 2021 is over six times than it was a year ago. I think we're probably expecting it to come back to the, sort of, the highs of Q1, exactly in Q3, that we will gain some positivity from there. Chris has an impressive background in the energy industry, having worked in oil and gas, fusion, solar, and geothermal energy. On average, equities research analysts expect that The Liberty SiriusXM Group will post 3.32 EPS for This equates to a 41% sequential increase in profitability, adjusted for the variable compensation restoration on a 5% gain in revenue. And you've spoken repeatedly about just the methodical price increases. I think you're going to see in general some low-single digit increase in labor costs going through second half of the year, as well, I think, in general, across the board. Now, there's just one, Liberty. The partnership works both ways and we are committed to remaining disciplined in the current environment. 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. We take these responsibilities very seriously and will continue to drive the conversation going forward. We created opportunity in the face of adversity and we believe we are now going through an inflection point. But, again, I can't give any other specific color. 03/09/2022 14:33:57 P EST PUMP) today announced that it will issue its first quarter of 2023 earnings release on Wednesday, May 3, 2023 before the opening of trading. Infrastructure Stock Boom to Sweep America. Jun 2013 - Dec 20163 years 7 months. So, there's many, there is a pretty strong pull right now for new capacity, just as market activity is increasing. Yes, the fleet reactivation is not on. We worked in that partnership mode and then in partnership mode coming out the other side. As I mentioned earlier, we restored our variable compensation programs one quarter ahead of pace. Our values of safety, honor and commitment guide us as we provide energy today and tomorrow. And now, depends on this one the other way, that should make the marketplace fun. Liberty was not immune from staffing issues and the industry supply chain challenges; for example, trucking shortages. Income allocated to participating securities, if applicable, in the adjusted earnings per share calculation is the same as that used in the GAAP diluted earnings per share calculation. Type a symbol or company name. Invest better with The Motley Fool. After submitting your information, you will receive an email. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Michael, I wanted to -- I'd really -- talk about the moving dynamics into Q3. We are continue with our upgrade preparations Tier 4 DGB, this year, (i.e.) Zacks has released a Special Report to help you do just that, and today its free. Please go ahead. George O'Leary -- TPH and Company -- Analyst. Yes. Zacks Equity Research for 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%. Phillips 66 had $56 billion of assets as of Dec. 31, 2021. Thus, it is worth knowing the facts that could determine the more_horizontal The quarter was negatively affected by approximately $0.12 per share by deferred asset valuation allowance adjustments. This STOCKHOLDERS AGREEMENT (this Agreement), dated as of January 17, 2018, is entered into by and among Liberty Oilfield Services Inc., a Delaware corporation (the Company), R/C IV Liberty Oilfield Services Holdings, L.P., a The results also included transaction and other costs of $3 million, a $0.7 million [Phonetic] increase in bad debt reserves. The decrease was primarily due to lower unrealized investment gains related to NOVONIX Ltd., partially offset by inventory impacts. Yes, in January 1; and no, before then. Staffing was ramping up a little bit, up and down with those fleets as they come along. So, yes, we consider them staff fleets. Use of Non-GAAP Financial Information

So, the more natural gas you're using for energy, for your fleets versus diesel, the lower year fuel costs are. The second quarter marks the anniversary of the extraordinary events of the year-ago, where business activity plunged on the back of a collapse in oil demand. Our guest on this episode of the Wow Factor podcast is Chris Wright, the CEO and Chairman of the Board of Liberty Energy. Liberty's leadership in ESG is well known, as it has been part of our DNA since day one. The consensus estimate for Tempo 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. 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. The $208 million decrease was primarily due to lower polyethylene margins, reduced sales volumes, as well as increased utility costs. That would be about it. This article is a transcript of this conference call produced for The Motley Fool. this could be, the industry is growing doesn't necessarily mean that Liberty's fleet count is going to grow. View source version on businesswire.com: Download FREE: How To Profit From Trillions On Spending For Infrastructure >>, Do Not Sell My Personal Information (CA Residents Only). Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Northland Capmk analyst T. Savageaux anticipates that the company will post earnings of ($0.15) per share for the quarter. So, one of the big things we won, indeed when we took over -- you know, we just took this over in January 1, not great what's happening. Now, the acceptance of that is very strong. 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. And maybe, I don't know if you just want to kind of characterize like, what it would cost to reactivate your next-gen fleets? These matters involve risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. I think the slow and steady rooms are right at the moment with what we're looking at this year as we put in the partly [Phonetic] created platform to really take advantage of where we are going into the cycle in '22 and '23. So, yes. And if you could, kind of, give a little bit more color on -- kind of, expand a little bit on the operational and capital efficiency opportunities you were talking about in terms of technology integration, automation? So, I think we'll see a slow increase there. In Chemicals, CPChem is pursuing a portfolio of high-return growth projects: In late 2021, CPChem completed its first commercial sales of Marlex Anew Circular Polyethylene, which uses advanced recycling technology to convert difficult-to-recycle plastic waste into high-quality raw materials. And second one is lower long-term operating costs; the cost difference between gas and diesel is pretty large right now. Global economic growth continued [Phonetic] strong. ET .TreeHouse will discuss the results for the first quarter and the outlook for the balance of the year. Liberty had an outstanding year in 2022. WebInvestors Heavily Search Liberty Energy Inc. (LBRT): Here is What You Need to Know. Yes, it's ultimately -- I mean, the interest is driven by two things. Midstream results in the fourth quarter included asset retirement costs of $70 million related to the shutdown of the Alliance Refinery in connection with plans to convert it to a terminal, $4 million of hurricane-related costs and $1 million of pension settlement expense. 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. In June, Riverstone successfully monetized the final part of acreage position in Liberty to receive new [Phonetic] stock offering, culminating into tenured partnership with us soon [Phonetic]. It is noteworthy that service prices tend to lag broader inflationary increases across the value chain, but the increases are necessary to facilitate the next phase of growth and take all of your investment. Fortunes will be made. I think that depends on the lengths of time we had with the customer and we would see [Indecipherable] things with that relationship. 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. Texas-based oilfield services company providing pressure pumping and We're proud of the efforts of our industry and our company in being a part of the solution toward reaching billions of underserved people with lower cost of energy. As customers both legacy and new ramped during the quarter, effective completion crew scheduling was challenging with producers and service company dealing with supply chain interruptions, staffing and transportation shortages. We will now begin the question-and-answer session. Supply chains in many industries were also disrupted or overwhelmed by a lack of compliments or shortages in raw materials. Liberty Oilfield Services (LBRT Quick Quote LBRT - Free Report) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.06 per share. 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