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Business Wire
24-07-2025
- Business
- Business Wire
Liberty Energy Inc. Announces Second Quarter 2025 Financial and Operational Results
DENVER--(BUSINESS WIRE)--Liberty Energy Inc. (NYSE: LBRT; 'Liberty' or the 'Company') today reported second quarter 2025 financial and operational results. Summary Results and Highlights 'Liberty delivered an exceptional second quarter amidst increased macroeconomic uncertainty and energy sector volatility. Revenue and Adjusted EBITDA 1 increased 7% and 8% sequentially, respectively, against an industry backdrop of softening completions activity. This strong performance is a direct reflection of the outstanding contributions of our team, safely driving record efficiencies and increased utilization that more than offset industry pricing headwinds,' commented Ron Gusek, Chief Executive Officer. 'We are leveraging our full suite of completion services, including frac, wireline, sand, logistics, fueling services and top tier engineering and diagnostic tools, to drive increased engagement with our customers.' 'We are excited to bolster our technology leadership with rapid progress on our cutting-edge digiPrime enhancement with the industry's first variable speed natural gas reciprocating engine. Our successful development and field testing during the second quarter reflect our commitment to continued innovation in high efficiency, low emission technologies,' continued Mr. Gusek. 'We also completed the successful field trial of the industry's first last-mile sand slurry system. By transporting sand slurry via pipe, our system is expected to reduce costs, improve delivery reliability, and decrease dust, emissions and road maintenance for our customers.' 'Growing power demand from data centers and industrial users necessitates a collaborative approach to address power service requirements that increasingly surpass the traditional utility offering. During the second quarter, we announced two strategic alliances for the development of power facilities. In Pennsylvania, we are collaborating with Range Resources and Imperial Land Corporation to provide power services at a strategically located industrial park tailored for scalable development with advantaged access to Marcellus natural gas. In Colorado, our strategic alliance with AltitudeX Aviation Group will support a proposed development at the Colorado Air & Space Port powered by a Liberty microgrid,' continued Mr. Gusek. 'These partnerships address the barriers that commercial and industrial developers face, including access to suitable land, integrated power management solutions, and reliable fuel supply. Together, we offer a turnkey solution that combines on-site generation, market integration, and infrastructure readiness to meet the evolving needs of high demand users.' 'Our recently announced collaboration with Oklo represents an exciting path towards delivering integrated, next generation power solutions for sophisticated large load customers. This comprehensive approach combines the speed to market of Liberty's Forte℠ distributed natural gas power and high-performance load management solution to meet immediate demand, with a path to integrate grid power management and baseload small modular nuclear reactors,' continued Mr. Gusek. 'As energy systems evolve, our blended solution provides long-term, reliable power that utilizes breakthrough technology and energy management solutions.' 'As we look ahead, the strategic investment we have made in completions through cycles enhances our ability to support customers in an evolving landscape. We are leveraging our integrated suite of completion services, cutting-edge technologies, industry leading partnerships and the dedication of our exceptional team to navigate market uncertainties. Within our power business, LPI delivers a robustly engineered, end-to-end energy solution uniquely integrating on-site generation and load management, ISO market participation, and advantaged retail supply, creating a comprehensive, flexible approach that redefines reliability and cost efficiency in deregulated regions,' continued Mr. Gusek. 'We're excited by LPI's future growth and its ability to contribute to our track record of delivering superior long-term returns, while balancing disciplined investment with a strong balance sheet through cycles.' Outlook While oil markets continue to evolve in response to dynamic global economic and geopolitical developments, North American production has remained relatively stable. As the world's largest supplier of oil and natural gas, U.S. producers continue to play a vital role in delivering reliable energy to global markets, supporting domestic industrial activity and power demand, and providing strategic leverage in the geopolitical landscape. Recent events, ranging from shifting tariff policies to rising regional hostilities and mixed economic signals affecting global oil demand, have not yet driven a meaningful North American production response. Larger, well-capitalized producers with strong balance sheets and highly efficient operations enjoy healthy well economics, enabling them to weather commodity price volatility. Intra-quarter price fluctuations created hedging opportunities, further tempering supply side reactions. Producers are targeting a relatively flat production profile, sustaining a baseline of frac activity to offset the natural decline of producing wells. Completions activity is anticipated to gradually slow during the second half of the year, reflecting disciplined capital deployment and contributing to market pricing pressure on services. This slowdown in activity is expected to accelerate equipment cannibalization and attrition, which fundamentally improves the supply and demand dynamics within the services industry over the cycle. Today's larger producers require a technically superior service offering to meet the rising demand for efficiencies and engineering support that few service companies are positioned to deliver. Liberty's unmatched portfolio breadth, integrated services, and technical innovation uniquely enable us to deliver greater value to our customers and drive outperformance. 'Amidst market pressures and near-term reductions in customer activity, we are planning to modestly reduce our deployed fleet count and reposition this horsepower to support our expanded simulfrac offering for long-term partners,' continued Mr. Gusek. 'We have created a unique competitive position that allows us to stay agile in dynamic markets while maintaining strong long-term advantages, underpinned by our scale, technology leadership, vertical integration and a fortress-like balance sheet. We are excited by the road ahead and our emerging growth opportunities.' Cash Dividend During the quarter ended June 30, 2025, the Company paid a quarterly cash dividend of $0.08 per share of Class A common stock, or approximately $13 million in aggregate to shareholders. On July 15, 2025, the Board declared a cash dividend of $0.08 per share of Class A common stock, to be paid on September 18, 2025 to holders of record as of September 4, 2025. Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and to the Board's continuing determination that the declarations of dividends are in the best interests of Liberty and its stockholders. Future dividends may be adjusted at the Board's discretion based on market conditions and capital availability. Second Quarter Results For the second quarter of 2025, revenue was $1.0 billion, a decrease of 10% from $1.2 billion in the second quarter of 2024 and an increase of 7% from $977 million in the first quarter of 2025. Net income (after taxes) totaled $71 million for the second quarter of 2025 compared to $108 million in the second quarter of 2024 and $20 million in the first quarter of 2025. Adjusted Net Income 3 (after taxes) totaled $20 million for the second quarter of 2025 compared to $103 million in the second quarter of 2024 and $7 million in the first quarter of 2025. Adjusted EBITDA 1 of $181 million for the second quarter of 2025 decreased 34% from $273 million in the second quarter of 2024 and increased 8% from $168 million in the first quarter of 2025. Fully diluted earnings per share of $0.43 for the second quarter of 2025 compared to $0.64 for the second quarter of 2024 and $0.12 for the first quarter of 2025. Adjusted Net Income per Diluted Share 3 of $0.12 for the second quarter of 2025 compared to $0.61 for the second quarter of 2024 and $0.04 for the first quarter of 2025. Please refer to the tables at the end of this earnings release for a reconciliation of Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per Diluted Share (each, a non-GAAP financial measure) to the most directly comparable GAAP financial measures. Balance Sheet and Liquidity As of June 30, 2025, Liberty had cash on hand of $20 million and total debt of $160 million, drawn on the secured asset-based revolving credit facility. Total liquidity, including availability under the credit facility, was $276 million as of June 30, 2025. In July 2025, Liberty expanded its credit facility to provide for a $225 million increase in aggregate commitments to $750 million, subject to borrowing base limitations. Conference Call Liberty will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Friday, July 25, 2025. Presenting Liberty's results will be Ron Gusek, Chief Executive Officer, and Michael Stock, Chief Financial Officer. Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers, (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 7843160. The replay will be available until August 1, 2025. About Liberty Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit and or contact Investor Relations at IR@ Non-GAAP Financial Measures This earnings release includes unaudited non-GAAP financial and operational measures, including EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Net Income per Diluted Share, and Adjusted Pre-Tax Return on Capital Employed ('ROCE'). We believe that the presentation of these non-GAAP financial and operational measures provides useful information about our financial performance and results of operations. We define Adjusted EBITDA as EBITDA adjusted to eliminate the effects of items such as non-cash stock-based compensation, new fleet or new basin start-up costs, fleet lay-down costs, gain or loss on the disposal of assets, gain or loss on investments, net, bad debt reserves, transaction and other costs, the loss or gain on remeasurement of liability under our tax receivable agreements, and other non-recurring expenses that management does not consider in assessing ongoing performance. Our board of directors, management, investors, and lenders use EBITDA and Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense), asset base (such as depreciation, depletion, and amortization) and other items that impact the comparability of financial results from period to period. We present EBITDA and Adjusted EBITDA because we believe they provide useful information regarding the factors and trends affecting our business in addition to measures calculated under U.S. GAAP. We present Adjusted Net Income and Adjusted Net Income per Diluted Share because we believe such measures provide useful information to investors regarding our operating performance by excluding the after-tax impacts of unusual or one-time benefits or costs, including items such as gain or loss on investments, net and transaction and other costs, primarily because management views the excluded items to be outside of our normal operating results. We define Adjusted Net Income as net income after eliminating the effects of such excluded items and Adjusted Net Income per Diluted Share as Adjusted Net Income divided by the number of weighted average diluted shares outstanding. Management analyzes net income without the impact of these items as an indicator of performance to identify underlying trends in our business. We define ROCE as the ratio of adjusted pre-tax net income (adding back income tax and certain adjustments that include tax receivable agreement impacts, gain or loss on investments, net, and transaction and other costs, when applicable) for the twelve months ended June 30, 2025 to Average Capital Employed. Average Capital Employed is the simple average of total capital employed (both debt and equity) as of June 30, 2025 and June 30, 2024. ROCE is presented based on our management's belief that this non-GAAP measure is useful information to investors when evaluating our profitability and the efficiency with which management has employed capital over time. Our management uses ROCE for that purpose. ROCE is not a measure of financial performance under U.S. GAAP and should not be considered an alternative to net income, as defined by U.S. GAAP. Non-GAAP financial and operational measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP financial and operational measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with U.S. GAAP. See the tables entitled Reconciliation and Calculation of Non-GAAP Financial and Operational Measures for a reconciliation or calculation of the non-GAAP financial or operational measures to the most directly comparable GAAP measure. Forward-Looking and Cautionary Statements The information above includes '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. All statements, other than statements of historical facts, included herein concerning, among other things, statements about our expected growth from recent acquisitions, expected performance, future operating results, oil and natural gas demand and prices and the outlook for the oil and gas industry, outlook for the power industry, future global economic conditions, improvements in operating procedures and technology, our business strategy and the business strategies of our customers, the impact of policy, legislative, and regulatory changes, the deployment of fleets in the future, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, return of capital to stockholders, business strategy and objectives for future operations, are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as 'may,' 'expect,' 'estimate,' 'outlook,' 'project,' 'plan,' 'position,' 'believe,' 'intend,' 'achievable,' 'forecast,' 'assume,' 'anticipate,' 'will,' 'continue,' 'potential,' 'likely,' 'should,' 'could,' and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. The outlook presented herein is subject to change by Liberty without notice and Liberty has no obligation to affirm or update such information, except as required by law. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this earnings release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for us to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in 'Item 1A. Risk Factors' included in our Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the SEC on February 6, 2025, in our Form 10-Q for the quarter ended March 31, 2025 as filed with the SEC on April 17, 2025 and in our other public filings with the SEC. These and other factors could cause our actual results to differ materially from those contained in any forward-looking statements. ____________________ Expand (1) General and administrative costs for the three months ended March 31, 2025 and six months ended June 30, 2025 include $10.2 million of non-cash stock-based compensation expense related to the resignation of the Company's former Chief Executive Officer upon confirmation as Secretary of Energy of the United States. (2) Net capital expenditures presented above include investing cash flows from purchase of property and equipment, excluding acquisitions, net of proceeds from the sales of assets. (3) Adjusted EBITDA is a non-GAAP financial measure. See the tables entitled 'Reconciliation and Calculation of Non-GAAP Financial and Operational Measures' below. Expand Liberty Energy Inc. Condensed Consolidated Balance Sheets (unaudited, amounts in thousands) June 30, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 19,563 $ 19,984 Accounts receivable and unbilled revenue 607,333 539,856 Inventories 201,268 203,469 Prepaids and other current assets 93,213 85,214 Total current assets 921,377 848,523 Property and equipment, net 1,929,426 1,890,998 Operating and finance lease right-of-use assets 376,273 356,435 Other assets 127,931 119,402 Investment in equity securities 86,041 81,036 Total assets $ 3,441,048 $ 3,296,394 Liabilities and Equity Current liabilities: Accounts payable and accrued liabilities $ 684,273 $ 571,305 Current portion of operating and finance lease liabilities 109,105 95,218 Total current liabilities 793,378 666,523 Long-term debt 160,000 190,500 Noncurrent portion of operating and finance lease liabilities 247,779 247,888 Deferred tax liability 137,728 137,728 Payable pursuant to tax receivable agreements 67,180 74,886 Total liabilities 1,406,065 1,317,525 Stockholders' equity: Common stock 1,620 1,619 Additional paid in capital 962,840 977,484 Retained earnings 1,084,192 1,019,517 Accumulated other comprehensive loss (13,669 ) (19,751 ) Total stockholders' equity 2,034,983 1,978,869 Total liabilities and equity $ 3,441,048 $ 3,296,394 Expand Liberty Energy Inc. Reconciliation and Calculation of Non-GAAP Financial and Operational Measures (unaudited, amounts in thousands) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, 2025 2025 2024 2025 2024 Net income $ 71,016 $ 20,111 $ 108,421 $ 91,127 $ 190,313 Depreciation, depletion, and amortization 129,366 127,742 123,305 257,108 246,491 Interest expense, net 10,162 9,543 8,063 19,705 15,126 Income tax expense 24,137 7,806 32,550 31,943 59,028 EBITDA $ 234,681 $ 165,202 $ 272,339 $ 399,883 $ 510,958 Stock-based compensation expense 8,101 18,080 6,870 26,181 14,197 Gain on investments, net (68,242 ) (19,288 ) (7,201 ) (87,530 ) (7,201 ) Loss on disposal of assets, net 5,631 3,345 1,248 8,976 88 Transaction and other costs — 811 — 811 — Provision for credit losses 627 — — 627 — Adjusted EBITDA $ 180,798 $ 168,150 $ 273,256 $ 348,948 $ 518,042 Expand Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, 2025 2025 2024 2025 2024 Net income $ 71,016 $ 20,111 $ 108,421 $ 91,127 $ 190,313 Adjustments: Less: Gain on investments, net (68,242 ) (19,288 ) (7,201 ) (87,530 ) (7,201 ) Add back: Transaction and other costs — 811 — 811 — Total adjustments, before income taxes (68,242 ) (18,477 ) (7,201 ) (86,719 ) (7,201 ) Income tax benefit of adjustments (17,373 ) (5,174 ) (1,707 ) (22,547 ) (1,707 ) Adjusted Net Income $ 20,147 $ 6,808 $ 102,927 $ 26,955 $ 184,819 Diluted weighted average common shares outstanding 164,243 165,784 169,669 165,041 170,647 Net income per diluted share $ 0.43 $ 0.12 $ 0.64 $ 0.55 $ 1.12 Adjusted Net Income per Diluted Share $ 0.12 $ 0.04 $ 0.61 $ 0.16 $ 1.08 Expand Calculation of Adjusted Pre-Tax Return on Capital Employed Twelve Months Ended June 30, 2025 2024 Net income $ 216,824 Add back: Income tax expense 60,176 Add back: Loss on remeasurement of liability under tax receivable agreements (1) 3,210 Less: Gain on investments, net (129,556 ) Add back: Transaction and other costs 811 Adjusted Pre-tax net income $ 151,465 Capital Employed Total debt $ 160,000 $ 147,000 Total equity 2,034,983 1,936,895 Total Capital Employed $ 2,194,983 $ 2,083,895 Average Capital Employed (2) $ Adjusted Pre-Tax Return on Capital Employed (3) 7 % Expand (1) Loss on remeasurement of the liability under tax receivable agreements is a result of a change in the estimated future effective tax rate and should be excluded in the determination of adjusted pre-tax return on capital employed. (2) Average Capital Employed is the simple average of Total Capital Employed as of June 30, 2025 and 2024. (3) Adjusted Pre-tax Return on Capital Employed is the ratio of Adjusted pre-tax net income for the twelve months ended June 30, 2025 to Average Capital Employed. Expand
Mint
21-07-2025
- Business
- Mint
Expert view: Trump tariff risk is real; slowing GDP growth a key concern, says Krishnan V R of Marcellus
Expert view on Indian stock market: The risk of Trump tariffs is real, as the US is India's largest trading partner, and we currently run a large trade surplus with them in both goods and services, says Krishnan V R, Chief of Quantitative Research at Marcellus. In an interview with Mint, Krishnan shares his views on Indian stock market triggers, the potential impact of tariffs and his strategy for the US stock market at this juncture. Here are edited excerpts of the interview: GDP growth moderated last year, and the current estimate is for growth to be around 6-6.5 per cent this year and next. With core inflation trending around 3.5 per cent, I do not see much scope for aggregate revenues to grow at more than 12 per cent for most domestically facing businesses. We remain cautious about mass consumption given India's inability to create jobs at scale and stretched household balance sheets. However, an easing inflation backdrop coupled with additional supportive monetary and fiscal policy steps could trigger a near-term recovery in urban consumption. Slowing GDP growth and lower inflation do not bode well for corporate earnings growth. Q1FY26 also saw tariff announcements and the rise of geopolitical risks. I think we need to wait for a material uptick in income growth for a broad-based consumption recovery, as I do not see any additional structural triggers apart from the tailwinds highlighted above. The tariff risk is real, as the US is India's largest trading partner. We currently have a large trade surplus with the US in both merchandise goods and services. It is clear that the US administration intends to use the threat of tariffs and associated uncertainty as a tool for trade negotiations. Given that the US will demand meaningful concessions for Indian market access in case there is a trade agreement, it would be fair to expect that our trade surplus with them might shrink in the near term. However, India's relative tariff levels and export competitiveness compared to other countries will determine the long-term impact of tariffs on its overall goods trade deficit. Firstly, steady and growing domestic flows predominantly through mutual funds, despite a brief drawdown between Sept-2024 and Feb-2025, have been a stabilising factor for equity markets in the face of erratic FII flows. Secondly, domestic mutual funds and retail investors have been net buyers of equity over the last few years, even as foreign investors and promoters have been reducing their stakes. From an investing standpoint, this reallocation of household savings to financial assets offers opportunities to pick well-run companies in broader financial services space like insurance, wealth management, RTAs, depositories, AMCs, among others, which stand to benefit in the long term. According to our global equities team, broad-based index exposure calls for caution at this juncture, and a more selective, bottom-up approach is warranted. Many high-quality businesses are currently lagging—not because of fundamentals, but due to a lack of near-term earnings triggers. On the other hand, companies benefiting from recent tailwinds may be pricing in overly optimistic assumptions. In such an environment, valuation discipline and thoughtful stock selection become critical. For patient investors, this setup also creates a fertile hunting ground—several high-quality, under-the-radar businesses trading at attractive valuations can offer meaningful long-term upside. While US stagflation concerns are valid, they have not been borne out in reality, at least not yet. US jobs data, indicated by non-farm payrolls, surprised positively in May and June. However, the combination of a cheaper US dollar and higher long-term USD yields would suggest some nervousness about holding dollar assets. If US recession risks do play out, then it will obviously have knock-on effects on EM (emerging market) economies, especially those where trade and exports are a meaningful portion of GDP. For India, domestic consumption is more important, and hence, the first-order impact of the US slowdown on the Indian economy will be relatively less. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Globe and Mail
16-07-2025
- Business
- Globe and Mail
Can Energy Transfer Gain From BIS' Current Stance on Ethane Export?
Energy Transfer LP ET, a midstream energy firm, is well-positioned for long-term value creation through its extensive pipeline network, diversified asset base and strong exposure to the natural gas liquids ('NGL') export market. The recent decision by the U.S. Bureau of Industry and Security ('BIS') to remove the license requirement for ethane exports to China can act as a catalyst for Energy Transfer's long-term growth. This regulatory change significantly reduces trade barriers and uncertainty prevailing over the ethane expor t to China and opens a major global demand center for U.S. ethane. Energy Transfer, which already exports ethane through its Marcus Hook terminal and operates pipelines connected to export hubs, is well-equipped to meet this rising demand and benefit from increased throughput volumes and export margins. The company operates more than 140,000 miles of pipelines and has a strategic footprint across key producing regions such as the Permian, Eagle Ford and Marcellus. This robust infrastructure enables efficient transportation and export of hydrocarbons, particularly ethane, which is vital for petrochemical production. The new regulatory development enhances Energy Transfer's competitiveness in the global ethane market, supporting higher utilization rates across its NGL infrastructure. This reinforces Energy Transfer's strategic vision of expanding international energy partnerships while capitalizing on its cost-advantaged U.S. supply position. How the Removal of the License Requirement Impacts Other Ethane Exporters This decision of BIS to revoke the licensing requirement can boost the prospects of other ethane exporters to China. Enterprise Products Partners EPD, which exports a large volume of ethane to China, will benefit and continue to export as BIS rescinded licensing requirements. Phillips 66 PSX has a significant presence in the global ethane market and China is a key destination for the U.S. ethane exports. PSX too will benefit from BIS' decision. ET Stock's Price Performance Units of ET have risen 3.9% in the past three months compared with the Zacks Oil and Gas - Production Pipeline - MLB industry's growth of 2.8%. Image Source: Zacks Investment Research ET's Earnings Estimates The Zacks Consensus Estimate for Energy Transfer's 2025 earnings per unit ('EPU') indicates a decline of 1.33% in the past 60 days, while the same for 2026 EPU indicates an increase of 2.56% in the same time period. Image Source: Zacks Investment Research ET's Units Are Trading at a Discount Energy Transfer's units are somewhat inexpensive relative to the industry. ET's current trailing 12-month Enterprise Value/Earnings before Interest, Tax, Depreciation and Amortization (EV/EBITDA) TTM is 10.16X compared with the industry average of 11.54X. This indicates that the firm is presently undervalued compared with its industry. ET's Zacks Rank Energy Transfer currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Enterprise Products Partners L.P. (EPD): Free Stock Analysis Report Phillips 66 (PSX): Free Stock Analysis Report Energy Transfer LP (ET): Free Stock Analysis Report
Buzz Feed
25-06-2025
- Entertainment
- Buzz Feed
15 Books That Made People Love Reading Again
Reading slumps are bound to happen to all bookworms, but it only takes one reaaaally good book to get out of one. Recently, I asked BuzzFeed Community members to share the book that got them out of a deep reading rut, and I'm about ready to head to the bookstore ASAP. Here are some book recs that made people fall in love with reading again: "Remarkably Bright Creatures by Shelby Van Pelt. It's a quirky book about an octopus who helps an aquarium employee get through her grief. I know it sounds bizarre, but trust me. I couldn't put it down." —Anonymous, 33Here's a quick synopsis from Goodreads:After Tova Sullivan's husband died, she began working the night shift at the Sowell Bay Aquarium, mopping floors and tidying up. Keeping busy has always helped her cope, which she's been doing since her eighteen-year-old son, Erik, mysteriously vanished on a boat in Puget Sound over thirty years becomes acquainted with curmudgeonly Marcellus, a giant Pacific octopus living at the aquarium. Marcellus knows more than anyone can imagine but wouldn't dream of lifting one of his eight arms for his human captors--until he forms a remarkable friendship with the detective, Marcellus deduces what happened the night Tova's son disappeared. And now Marcellus must use every trick his old invertebrate body can muster to unearth the truth for her before it's too late. "The Lord of the Rings by J.R.R. Tolkien. I started reading it after the first movie because I loved the movie so much and didn't want to wait a year to find out what happened, so I decided to read the books. Twenty-five years later, I have bookshelves of books. LOTR instilled a love of fantasy novels, and I still mostly only read fantasy." —flyerboy6Here's a quick synopsis from Goodreads:In ancient times the Rings of Power were crafted by the Elven-smiths, and Sauron, the Dark Lord, forged the One Ring, filling it with his own power so that he could rule all others. But the One Ring was taken from him, and though he sought it throughout Middle-earth, it remained lost to him. After many ages it fell by chance into the hands of the hobbit Bilbo Sauron's fastness in the Dark Tower of Mordor, his power spread far and wide. Sauron gathered all the Great Rings to him, but always he searched for the One Ring that would complete his Bilbo reached his eleventy-first birthday he disappeared, bequeathing to his young cousin Frodo the Ruling Ring and a perilous quest: to journey across Middle-earth, deep into the shadow of the Dark Lord, and destroy the Ring by casting it into the Cracks of Lord of the Rings tells of the great quest undertaken by Frodo and the Fellowship of the Ring "Back to the classics: I recently read The Count of Monte Cristo by Alexandre Dumas. What a read! It's a template for modern spy thrillers and gothic romance. There's not a wasted word in all of the 1,200 or more pages." —i_before_a_except_after_jHere's a quick synopsis from Goodreads:Thrown in prison for a crime he has not committed, Edmond Dantes is confined to the grim fortress of If. There he learns of a great hoard of treasure hidden on the Isle of Monte Cristo and becomes determined not only to escape but to unearth the treasure and use it to plot the destruction of the three men responsible for his incarceration. A huge popular success when it was first serialized in the 1840s, Dumas was inspired by a real-life case of wrongful imprisonment when writing his epic tale of suffering and retribution. "Anything by Kristin Hannah. I was first introduced to her when I read The Nightingale, and since then, I have been hooked. The characters feel so real, and the storytelling is like no other. Highly recommend." —AnonymousHere's a quick synopsis from Goodreads:In the quiet village of Carriveau, Vianne Mauriac says goodbye to her husband, Antoine, as he heads for the Front. She doesn't believe that the Nazis will invade France…but invade they do, in droves of marching soldiers, in caravans of trucks and tanks, in planes that fill the skies and drop bombs upon the innocent. When a German captain requisitions Vianne's home, she and her daughter must live with the enemy or lose everything. Without food or money or hope, as danger escalates all around them, she is forced to make one impossible choice after another to keep her family sister, Isabelle, is a rebellious eighteen-year-old, searching for purpose with all the reckless passion of youth. While thousands of Parisians march into the unknown terrors of war, she meets Gäetan, a partisan who believes the French can fight the Nazis from within France, and she falls in love as only the young can…completely. But when he betrays her, Isabelle joins the Resistance and never looks back, risking her life time and again to save others. "Love From A to Z by S.K. Ali. It's a very sweet love story featuring a well-done Muslim representation! I was sad to finish it (and disappointed that the sequel wasn't as great, in my honest opinion), but it made me start reading more often to try to find a book as good as that one!" —AnonymousHere's a quick synopsis from Goodreads:Zayneb's teacher won't stop reminding the class how "bad" Muslims are. But Zayneb, the only Muslim in class, isn't bad. She's angry. When she gets suspended for confronting her teacher, and he begins investigating her activist friends, Zayneb heads to her aunt's house in Doha, Qatar, for an early start to spring by the guilt of getting her friends in trouble, she resolves to try out a newer, "nicer" version of herself in a place where no one knows her. Then her path crosses with Adam' he got diagnosed with multiple sclerosis in November, Adam has stopped going to classes, intent instead on perfecting the making of things. Intent on keeping the memory of his mom alive for his little sister. And intent on keeping his diagnosis a secret from his grieving Adam and Zayneb are playing roles for others, keeping their real thoughts locked away in their journals. Until a marvel and an oddity occur. Adam and Zayneb meeting. "I'd recommend The Daughter of Doctor Moreau by Silvia Moreno-Garcia. I needed a break from the serious stuff I've been reading. It's definitely not light and fluffy, but it was great at capturing the audience, making me care about the story and characters, and making me want to seek out the source material." —charmingvolcano268Here's a quick synopsis from Goodreads:Carlota Moreau: a young woman, growing up in a distant and luxuriant estate, safe from the conflict and strife of the Yucatán peninsula. The only daughter of either a genius, or a Laughton: a melancholic overseer with a tragic past and a propensity for alcohol. An outcast who assists Dr. Moreau with his scientific experiments, which are financed by the Lizaldes, owners of magnificent haciendas and plentiful hybrids: the fruits of the Doctor's labor, destined to blindly obey their creator and remain in the shadows. A motley group of part human, part animal of them living in a perfectly balanced and static world, which is jolted by the abrupt arrival of Eduardo Lizalde, the charming and careless son of Doctor Moreau's patron, who will unwittingly begin a dangerous chain Moreau keeps secrets, Carlota has questions, and in the sweltering heat of the jungle, passions may ignite. "I listened to the audiobook of They Called Me a Lioness by Ahed Tamimi to better understand the situation in Gaza. I've never been much of a reader, but audiobooks make it easier for me. Since then, I've listened to several other nonfiction books." —Alexander, 27Here's a quick synopsis from Goodreads:A Palestinian activist jailed at sixteen after a confrontation with Israeli soldiers illuminates the daily struggles of life under occupation in this moving, deeply personal this is not just a story of activism or imprisonment. It is the human-scale story of an occupation that has riveted the world and shaped global politics, from a girl who grew up in the middle of it. Tamimi's father was born in 1967, the year that Israel began its occupation of the West Bank ,and he grew up immersed in the resistance movement. One of Tamimi's earliest memories is visiting him in prison, poking her toddler fingers through the fence to touch his hand. She herself would spend her seventeenth birthday behind bars. Living through this greatest test and heightened attacks on her village, Tamimi felt her resolve only deepen, in tension with her attempts to live the normal life of a daughter, sibling, friend, and student. "The Will Trent series by Karin Slaughter. The show was great, and despite having major differences, the books are astounding. Triptch (the first book) has several twists and even lets you 'solve' them. It also provides insight into poverty, the prison cycle, abuse of power, and more." —nouseforausernameHere's a quick synopsis from Goodreads:In the city of Atlanta, women are dying — at the hands of a killer who signs his work with a single, chilling act of mutilation. Leaving behind enough evidence to fuel a frenzied police hunt, this cunning madman is bringing together dozens of lives, crossing the boundaries of wealth and race. And the people who are chasing him must cross those boundaries too. Among them is Michael Ormewood, a veteran detective whose marriage is hanging by a thread—and whose arrogance and explosive temper are threatening his career. And Angie Polaski, a beautiful vice cop who was once Michael's lover before she became his another player has entered the game: a loser ex-con who has stumbled upon the killer's trail in the most coincidental of ways—someone who may be the key to breaking the case wide open. "Throne of Glass by Sarah J. Maas is the BEST fantasy series ever. The way the series develops book by book is wild. I cried three times while reading the last book because I was so invested in the storyline and characters. I can't recommend it enough. You have to read all eight books, and though they are long, they are so worth it." —pastelmoon72Here's a quick synopsis from Goodreads:In a land without magic, where the king rules with an iron hand, an assassin is summoned to the castle. She comes not to kill the king, but to win her freedom. If she defeats twenty-three killers, thieves, and warriors in a competition, she is released from prison to serve as the king's champion. Her name is Celaena Crown Prince will provoke her. The Captain of the Guard will protect her. But something evil dwells in the castle of glass — and it's there to kill. When her competitors start dying one by one, Celaena's fight for freedom becomes a fight for survival, and a desperate quest to root out the evil before it destroys her world. "A Confederacy of Dunces by John Kennedy Toole is like nothing else. I don't laugh easily, but that book can wake me from a deep sleep and have me guffawing by just remembering a line. It's easy to write it off as just being funny, but the book is also incredibly sad because of what it obviously says about the author's feelings toward himself. It was the first novel I'd read voluntarily as an adult, and now, I'm never not reading. However, no other book has compared to the escapism and magic I felt with this one." —protrout978Here's a quick synopsis from Goodreads:A monument to sloth, rant, and contempt, a behemoth of fat, flatulence, and furious suspicion of anything modern - this is Ignatius J. Reilly of New Orleans, noble crusader against a world of dunces. The ordinary folk of New Orleans seem to think he is unhinged. Ignatius ignores them, heaving his vast bulk through the city's fleshpots in a noble crusade against vice, modernity, and ignorance. But his momma has a nasty surprise in store for him: Ignatius must get a job. Undaunted, he uses his newfound employment to further his mission - and now he has a pirate costume and a hot-dog cart to do it with. "While I would recommend anything by Hugh Howey, the Silo series is incredible. I enjoyed it so much that I can't bring myself to watch the TV show for fear that it would ruin the experience." —Steve, 55Here's a quick synopsis from Goodreads:This is the story of mankind clawing for survival, of mankind on the edge. The world outside has grown unkind, the view of it limited, talk of it forbidden. But there are always those who hope, who dream. These are the dangerous people, the residents who infect others with their optimism. Their punishment is simple. They are given the very thing they profess to want: They are allowed outside. "One Dark Window and Two Twisted Crowns (The Shepherd King duology) by Rachel Gillig! I had been chugging through my never-ending TBR of romantasy and thriller books and felt like I was hitting a rut. I just wanted something a little different. I heard about the duology from Facebook and immediately downloaded it. I FLEW through them both." —Erin, 39, VirginiaHere's a quick synopsis from Goodreads:Elspeth Spindle needs more than luck to stay safe in the eerie, mist-locked kingdom of Blunder — she needs a monster. She calls him the Nightmare, an ancient, mercurial spirit trapped in her head. He protects her. He keeps her nothing comes for free, especially Elspeth meets a mysterious highwayman on the forest road, her life takes a drastic turn. Thrust into a world of shadow and deception, she joins a dangerous quest to cure Blunder from the dark magic infecting it. And the highwayman? He just so happens to be the King's nephew, Captain of the most dangerous men in Blunder…and guilty of high they must gather twelve Providence Cards — the keys to the cure. But as the stakes heighten and their undeniable attraction intensifies, Elspeth is forced to face her darkest secret yet: the Nightmare is slowly taking over her mind. And she might not be able to stop him. "As someone who mainly reads non-fiction, I once found myself in a reading slump and couldn't get out. I have a friend who likes to read rom-coms, and she recommended me Beach Read by Emily Henry. I was surprised by how much I loved it! I never looked down at rom-coms, don't get me wrong, but I definitely never thought to give them a shot. Now, I like incorporating them into my reading rotation." —Henry, 25Here's a quick synopsis from Goodreads:Augustus Everett is an acclaimed author of literary fiction. January Andrews writes bestselling romance. When she pens a happily ever after, he kills off his entire polar fact, the only thing they have in common is that for the next three months, they're living in neighboring beach houses, broke, and bogged down with writer's one hazy evening, one thing leads to another and they strike a deal designed to force them out of their creative ruts: Augustus will spend the summer writing something happy, and January will pen the next Great American Novel. She'll take him on field trips worthy of any rom-com montage, and he'll take her to interview surviving members of a backwoods death cult (obviously). Everyone will finish a book and no-one will fall in love. Really. "The Song of Achilles by Madeline Miller. Very BookTok-ish, I know, but I ADORE that book. It's written so beautifully, and it makes me sob uncontrollably every single time I read the ending. It's one of my favorite books, and one I recommend to everyone, whether they're bookworms or not." —AnonymousHere's a quick synopsis from Goodreads:Achilles, "the best of all the Greeks," son of the cruel sea goddess Thetis and the legendary king Peleus, is strong, swift, and beautiful, irresistible to all who meet him. Patroclus is an awkward young prince, exiled from his homeland after an act of shocking violence. Brought together by chance, they forge an inseparable bond, despite risking the gods' are trained by the centaur Chiron in the arts of war and medicine, but when word comes that Helen of Sparta has been kidnapped, all the heroes of Greece are called upon to lay siege to Troy in her name. Seduced by the promise of a glorious destiny, Achilles joins their cause, and torn between love and fear for his friend, Patroclus follows. Little do they know that the cruel Fates will test them both as never before and demand a terrible sacrifice. Lastly: "Sunrise on the Reaping by Suzanne Collins! I honestly think it's one of the best books I've read so far this year. You can tell that Suzanne isn't in it for the money grab. It's a painful story that speaks so much about the world today." —Emily, New JerseyHere's a quick synopsis from Goodreads:As the day dawns on the fiftieth annual Hunger Games, fear grips the districts of Panem. This year, in honor of the Quarter Quell, twice as many tributes will be taken from their in District 12, Haymitch Abernathy is trying not to think too hard about his chances. All he cares about is making it through the day and being with the girl he Haymitch's name is called, he can feel all his dreams break. He's torn from his family and his love, shuttled to the Capitol with the three other District 12 tributes: a young friend who's nearly a sister to him, a compulsive oddsmaker, and the most stuck-up girl in town. As the Games begin, Haymitch understands he's been set up to fail. But there's something in him that wants to have that fight reverberate far beyond the deadly arena. I'm adding alllll of these to my TBR as we speak! What's a book that has gotten you out of a deep reading slump? Let us know in the comments, or you can anonymously submit your response using the form below!
E&E News
18-06-2025
- Business
- E&E News
Bipartisan bill would move DOE office to Pennsylvania
Pennsylvania's senators are sponsoring legislation to move the Department of Energy's Office of Fossil Energy from Washington to Pittsburgh. Sen. Dave McCormick, a Republican, and Sen. John Fetterman, a Democrat, last week teamed up to introduce the bill, which would force the move a year after passage. 'For far too long, federal agencies in Washington have been physically removed from the workers and industries they regulate,' McCormick said in a statement. Advertisement 'I'm proud to partner with Senator Fetterman on this legislation to bring a critical Energy Department office to Pittsburgh near the heart of the Marcellus.'
