Oilfield services giant Liberty Energy doesn't expect major tariff impacts, but its sales slow
Profits and sales revenue fall for the Denver fracking company when compared to this time last year.
Denver-based oilfield services company Liberty Energy reported a first-quarter decrease in revenue last week, citing a decrease in its services and materials pricing.
In the first three months of 2025, Liberty Energy (NYSE: LBRT) booked $20.1 million in first-quarter profits, a 75% drop in the company's net income compared to the same quarter last year. The company also reported revenue decreased by $95.7 million, a 9% year-over-year drop to $977.5 million.
During a quarterly call with investment analysts, Michael Stock, Liberty Energy's chief financial officer, said the company is expecting some, but not massive, impacts from tariffs.
GET TO KNOW YOUR CITY
Find Local Events Near You
Connect with a community of local professionals.
Explore All Events
'We're expecting modest tariff-related inflationary impacts on engines and other equipment components, some of which are being offset by lower prices or volume discounts," Stock said. "We are also redirecting internationally sourced chemicals to either domestic sources or countries that are less impacted by global tariffs. All said, we don't anticipate a significant direct impact from tariffs at the moment.'
The company's decrease in revenues stemmed from a reduction in its service and materials pricing, which Liberty Energy's filing to the U.S. Securities and Exchange Commission said were partially offset by an increase in fleet efficiency.
Liberty Energy has 40 active fleets in the oil basins and shale-heavy regions in North America and Australia. The company's number of active rigs decreased throughout 2024 by 5%, according to Liberty Energy CEO Ron Gusek.
Per Liberty Energy's SEC filings, most oil and gas producers have set flat or modest production growth for 2025, demand the company expects to meet. Liberty Energy officials also noted natural gas fundamentals are expected to improve with likely increases in liquid natural gas export capacity.
The federal government's approach to oil and gas has grown more friendly to the industry, which could help Liberty Energy's bottom line. The Biden Administration paused drilling on federal lands, while the Trump administration appointed Chris Wright, Liberty Energy's founder and former CEO, to serve as U.S. energy secretary.
In the first quarter of 2025, West Texas Intermediate crude oil traded at an average of $71.78 per barrel, slightly down from the same period last year at $77.50, but higher than the fourth quarter of 2024 at $70.73 per barrel. Currently, WTI crude oil for delivery in May trades just under $63.50 per barrel so far this week, according to Bloomberg.
Liberty Energy's CEO said in a statement that his company's services are in high demand amid simultaneous tariffs and a recently announced strategy by the Organization of the Petroleum Exporting Countries to increase production.
'In recent months, tariff announcements and a more aggressive OPEC+ production strategy have sent ripples across the energy sector. Today, we have excess demand for Liberty services as our customers align themselves with top-tier providers in a clear industry 'flight to quality,'' Gusek said in the first quarter earnings announcement. 'While North American producers have not yet meaningfully changed development plans, we expect our customers to assess a range of scenarios in anticipation of commodity price pressure, and we are staying close to our partners in this dynamic market.'
After President Donald Trump unveiled new, steep tariffs on April 2, despite oil and gas export exemptions, Liberty Energy's stock dropped from $16.08 per share to a low of $10. The company has since edged upward, trading at $12.08.
On April 4, OPEC+ announced that it would increase oil supply to the market by 411,000 barrels per day in May, a decision that is credited with driving down oil prices.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
20 minutes ago
- New York Post
Is a toxic boss ruining your life? Here's what to do about it, before things get worse
If you're feeling overwhelmed and diminished at work, a toxic manager could be to blame. A bad boss can define the work experience. Someone who casts down on the people who report to them and ignores their needs can end up demolishing their sense of belonging, determination and purpose, experts warn. 'A bad boss can make or break your employment,' Vicki Salemi, a New York City-based career expert for Monster, told USA Today. Advertisement 'You may love your job and enjoy time with your colleagues and the company you work for, but at the end of the day, if your boss is toxic, this often surpasses cumulative positive reasons to stay.' Not only does having a bad boss decrease morale, it can also affect one's mental health. A 2024 survey by Monster found that 54% of those surveyed said they had poor mental health as a result of a toxic, controlling manager. But how can you tell if your manager is toxic, and what can you do about it? Signs that your manager is toxic They don't have your back Advertisement One telltale sign of a manager that doesn't support their employees is when they try to make a lower-level worker look bad and throw them under the bus. 'They dim your light to protect their ego,' Steven Claes, who writes about leadership, human resources and culture, recently shared on LinkedIn. 'Your success threatens their fragile self-esteem… Your confidence is the price of their power trip.' 'Your manager should be someone you think of as trustworthy. They should always have your back,' Salemi told USA Today. 'Whether you're in the room or not, they sing your praises.' 4 'A bad boss can make or break your employment,' Vicki Salemi, a career expert for Monster, told USA Today. Nattakorn – They play favorites Advertisement Playing favorites and pitting employees against one another also creates a hostile work environment. 'Say you're in a team meeting. You and four colleagues worked collaboratively on a project, but your boss only gives accolades and shines a spotlight on one person, their go-to favorite,' Salemi told the outlet. 'That's a sign of toxic leadership.' Encouraging cliques or rivalries within the office, as well as withholding praise from certain employees and not others can take away any source of trust and collaboration. They lack empathy and self-awareness Toxic bosses often lack the ability to recognize their emotions, according to the American Association for Physician Leadership. They tend to think they're right about everything, which can lead to animosity on the team. Advertisement 'Toxic bosses don't invest time or energy in building relationships to understand how their communication approach may impact others,' the AAPL said. 'They struggle to relate to team members' challenges, perspectives, and emotions, and this in turn leads to low trust.' 4 Empathy and compassion allows a boss to lead and connect with their direct reports, and those who lack this trait tend to be toxic managers. Dragana Gordic – They micromanage and make unrealistic demands Another example of toxic behavior in a manager is someone who nitpicks every detail and checks in too much, or someone who asks for a detailed list of how you spent every minute of your workday. This demonstrates a lack of trust and a need for control, insecurity as a manager, or the inability to delegate tasks. And the demands can be unrealistic, such as expecting you to do the work of multiple people without proper compensation, which can ultimately lead to burnout, resentment and lower productivity. Regardless, those who are micromanaged at work have reported nearly double the stress and tension at work compared to those who aren't micromanaged, according to a 2023 American Psychological Association survey. 'Toxic bosses will weaponize their authority, expecting employees to carry out their instructions obediently and without questioning their authority or the value of the work being undertaken,' the AAPL wrote. 'They seek to control how you complete your work.' They reject feedback If a boss is given constructive feedback and responds by getting defensive or dismissive, or even by retaliating, this is a sign of poor emotional intelligence and an inflexible mindset — which is an obstacle to successful leadership. Advertisement 'Accountability is for everyone else, not them,' Claes noted. Along with rejecting feedback, toxic managers reject ideas from employees as well. 'They shut down new ideas faster than you can blink,' Claes wrote. ''We've always done it this way' is their mantra.' 4 Playing favorites and pitting employees against one another also creates a hostile work environment. Sathaporn – How to deal with a toxic manager 'A good boss lifts you up. They don't tear you down. You deserve to feel valued at work,' Claes said on LinkedIn. Advertisement When dealing with a toxic manager, Claes suggests making sure you know your worth, set clear boundaries, documenting everything, build a support network and if needed, look for a different job. There are also direct steps you can take to potentially improve the situation and protect your well-being. Talk to your boss directly If you feel comfortable, you can approach the toxic manager directly and let them know how their behavior is affecting you. 'First, prepare what you're going to say with specific examples,' Salemi told USA Today. 'It's OK to go into the meeting with notes in your hand or on your phone.' Advertisement She suggested taking the following steps: State the facts of the situation. Let your boss know you felt unsupportive and share what you would hope for instead. Read their body language and allow for silence, even if it's uncomfortable. 'It's important to be factual. State specific examples, link them to your feelings, and talk about how it undermined your ability to do the work asked of you. Don't be accusatory or apportion blame,' the AAPL advised. With a toxic boss, it's possible they may not respond well, perhaps deflecting or trying to gaslight you — but it's important to keep calm. And like Claes suggested, document the conversation in case you need to take it to to a higher up. Advertisement 4 There are direct steps you can take to potentially improve the situation and protect your well-being. YURII MASLAK – Go to HR If necessary, you can go to human resources for help with a toxic manager — but be cautious and only do it under certain circumstances. 'If it's a discrimination issue, then absolutely go to HR,' Salemi told USA Today. 'But if it's something like your boss playing favorites, that can be viewed as more subjective.' Manage up Managing up is more of a 'wild card' approach and is for certain situations. For example, if your manager is going on vacation and delegated tasks to you, you can schedule a time to meet with their boss to check in and provide updates on your end. 'It's not a one-size-fits-all approach, but it's more to get onto your boss's boss's radar screen so they can interact with you and see your hard work firsthand,' Salemi said.
Yahoo
32 minutes ago
- Yahoo
Media Stocks Q1 Teardown: The New York Times (NYSE:NYT) Vs The Rest
As the Q1 earnings season comes to a close, it's time to take stock of this quarter's best and worst performers in the media industry, including The New York Times (NYSE:NYT) and its peers. The advent of the internet changed how shows, films, music, and overall information flow. As a result, many media companies now face secular headwinds as attention shifts online. Some have made concerted efforts to adapt by introducing digital subscriptions, podcasts, and streaming platforms. Time will tell if their strategies succeed and which companies will emerge as the long-term winners. The 7 media stocks we track reported a satisfactory Q1. As a group, revenues missed analysts' consensus estimates by 5.3%. Luckily, media stocks have performed well with share prices up 16.7% on average since the latest earnings results. Founded in 1851, The New York Times (NYSE:NYT) is an American media organization known for its influential newspaper and expansive digital journalism platforms. The New York Times reported revenues of $635.9 million, up 7.1% year on year. This print was in line with analysts' expectations, and overall, it was a strong quarter for the company with an impressive beat of analysts' EPS estimates and a decent beat of analysts' adjusted operating income estimates. The New York Times achieved the fastest revenue growth of the whole group. Unsurprisingly, the stock is up 8.4% since reporting and currently trades at $57.12. Is now the time to buy The New York Times? Access our full analysis of the earnings results here, it's free. Founded by brothers Walt and Roy, Disney (NYSE:DIS) is a multinational entertainment conglomerate, renowned for its theme parks, movies, television networks, and merchandise. Disney reported revenues of $23.62 billion, up 7% year on year, outperforming analysts' expectations by 2%. The business had a very strong quarter with an impressive beat of analysts' adjusted operating income estimates and a solid beat of analysts' EPS estimates. Disney delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 34.7% since reporting. It currently trades at $124. Is now the time to buy Disney? Access our full analysis of the earnings results here, it's free. Launching the careers of legendary artists like Frank Sinatra, Warner Music Group (NASDAQ:WMG) is a music company managing a diverse portfolio of artists, recordings, and music publishing services worldwide. Warner Music Group reported revenues of $1.48 billion, flat year on year, falling short of analysts' expectations by 2.2%. It was a softer quarter as it posted a significant miss of analysts' EPS estimates and a miss of analysts' Recorded Music revenue estimates. As expected, the stock is down 2.2% since the results and currently trades at $29.43. Read our full analysis of Warner Music Group's results here. Originally launched as a soccer streaming platform, fuboTV (NYSE:FUBO) is a video streaming service specializing in live sports, news, and entertainment content. fuboTV reported revenues of $416.3 million, up 3.5% year on year. This print lagged analysts' expectations by 28.7%. Taking a step back, it was still a very strong quarter as it produced an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. fuboTV had the weakest performance against analyst estimates among its peers. The stock is up 27% since reporting and currently trades at $3.69. Read our full, actionable report on fuboTV here, it's free. Creator of the legendary Scholastic Book Fair, Scholastic (NASDAQ:SCHL) is an international company specializing in children's publishing, education, and media services. Scholastic reported revenues of $335.4 million, up 3.6% year on year. This result came in 3.5% below analysts' expectations. Aside from that, it was a mixed quarter as it also logged a solid beat of analysts' EPS estimates but full-year EBITDA guidance missing analysts' expectations. The stock is up 15.2% since reporting and currently trades at $21.63. Read our full, actionable report on Scholastic here, it's free. The Fed's interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump's presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Tom's Guide
an hour ago
- Tom's Guide
Apple now lets you share your AirTag location with major airlines — here's how it works
One of the biggest fears when traveling is the possibility of losing your luggage. However, Apple has expanded upon an AirTag feature introduced with iOS 18.2 that could be a big help. AirTags have a lot of different functions, but one of the most popular is to help users track their luggage, including the Share Item Location feature to pass on the location of their AirTag to someone else. While this was useful for getting friends to help track something down, it was of little help when an airline lost your luggage. However, Apple has expanded this feature thanks to a team-up with some of the biggest airlines in the world to offer AirTag-based luggage recovery with their customer support. The partnership allows the airline to use your AirTag location URL as part of its customer service process. As such, it should mean that the airline will be able to quickly track your luggage in real-time, without relying on the more archaic system many currently utilize. Once your bag is recovered, the link will expire, meaning the airline can no longer track the luggage. At the time of writing, this feature is available with American Airlines, Delta, United and JetBlue, plus British Airways and others beyond the U.S. If you want to know how to use the AirTag location sharing feature, be it because you need it now or for future reference, here are the steps to follow. The first thing you need to do is open the Find My app on your iPhone, iPad or Mac and head to the Items tab. Once there, find the lost items or AirTag and scroll down until you find the 'share item location' option. Follow the prompts given, which will supply you with a URL that you can share with the Airline. Usually, the airline will include its method for how to share the link when you go through customer service. Overall, this addition looks like it will help to mitigate some of the bigger concerns that come with traveling, and a partnership with the airlines is certainly a massive bonus. Considering Amazon's Prime Day starts on June 8, now is a great time to grab the AirTags, such as in this current 4-for-3 offer at Amazon. Get instant access to breaking news, the hottest reviews, great deals and helpful tips.
