Liberty Energy Inc. (LBRT) Form 10-Q — Oct 22, 2026
Liberty Energy reported Q3 2026 revenue of $1.20 billion, up 26% year over year, with Adjusted EBITDA rising to $141.6 million from $127.7 million on stronger frac activity and pricing. Despite the operating strength, the company posted a GAAP net loss of $39.1 million ($0.24 per share) versus $43.1 million net income a year ago, driven primarily by a $62.9 million mark-to-market loss on equity investments including Oklo and Fervo. The balance sheet transformed during 2026: Liberty issued $1.295 billion of 0% convertible notes (due 2031 and 2032), repaid its revolver entirely, and holds $119 million in cash, but total debt now stands at $1.29 billion versus $247 million at year-end.
Key figures
- Revenue
- 1196156000
- Total Debt
- 1290572000
- Revenue Yoy
- 26%
- Total Assets
- 4489861000
- Cash Position
- 118973000
- Shares Outstanding
- 163191416
- Active fleets
- approximately 40
- Wti avg q3 2026
- $87.12 per barrel
- Nine month revenue
- 3405936000
- Dividend per share q3
- $0.09
- Henry hub avg q3 2026
- $2.87 per MMBtu
- Nine month net income
- 26616000
- Revolver availability
- $549.9 million
- Convertible notes 2031
- $770.0 million 0.00% due March 2031
- Convertible notes 2032
- $525.0 million 0.00% due March 2032
- Adjusted ebitda q3 2025
- $127.7 million
- Adjusted ebitda q3 2026
- $141.6 million
- Q3 loss on investments net
- $62.9 million
- Remaining power equipment commitments
- $1.6 billion
AI analysis
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