Liberty Energy Net Income Rises 12% to $22.6M in Q1 2026 as Revenue Climbs
Liberty Energy Inc., an oilfield services provider, posted net income of $22.6 million for the quarter ending March 31, 2026, up from $20.1 million in the same period last year. Revenue advanced 5% to $1.02 billion.
Liberty Energy Inc., an oilfield services provider, reported net income of $22.6 million for the first quarter of fiscal 2026, a 12% increase from $20.1 million in the same period a year earlier. The company posted diluted earnings per share of $0.14, up from $0.12 in the prior-year quarter. Read more earnings reports.
Total revenue for the three months ending March 31, 2026 reached $1.02 billion, up 5% from $977.5 million in the first quarter of fiscal 2025. Cost of goods sold climbed to $843.8 million from $761.6 million, reflecting the higher revenue base.
Operating income rose to $22.3 million in the current quarter compared with $18.2 million a year earlier, a 23% gain. The company recorded income tax expense of $9.3 million versus $7.8 million in the prior-year period.
Cash Flow and Liquidity
Cash from operations dropped sharply to $8.4 million in the first quarter of 2026, down from $192.1 million in the same quarter of 2025. The company spent $137.3 million on investing activities, up from $106.2 million a year earlier.
Cash from financing activities swung to a positive $800.6 million from negative $81.8 million in the prior-year quarter, driven by a substantial increase in long-term debt. Liberty Energy paid dividends of $15.2 million, up from $13.1 million in the first quarter of 2025.
Balance Sheet Expansion
Total assets surged to $4.44 billion as of March 31, 2026, up from $3.56 billion at the end of December 2025. Cash and cash equivalents jumped to $699.1 million from $27.6 million at year-end 2025, a 25-fold increase.
Long-term debt climbed to $1.27 billion from $241.5 million at the end of December, a $1.03 billion increase that funded the company's elevated cash position. Total liabilities rose to $2.50 billion from $1.48 billion at year-end, while stockholders' equity declined to $1.95 billion from $2.08 billion.
Current assets increased to $1.68 billion from $878.0 million, with accounts receivable rising to $461.7 million from $351.7 million. Property, plant and equipment stood at $2.14 billion, up from $2.05 billion at year-end.
Key Financial Metrics
| Item | Q1 2026 | Q1 2025 |
|---|---|---|
| Revenue | $1.02 billion | $977.5 million |
| Net Income | $22.6 million | $20.1 million |
| Operating Income | $22.3 million | $18.2 million |
| EPS (Diluted) | $0.14 | $0.12 |
| Cash from Operations | $8.4 million | $192.1 million |
The company had 162.1 million common shares outstanding as of March 31, 2026, essentially flat from 162.0 million at the end of December 2025. Weighted average diluted shares outstanding totaled 166.3 million for the quarter.