Liberty Energy Inc
For the period ended Sep 30, 2024. Filed Oct 17, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 17, 2024
LBRT$12.49-3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of O
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Revenue | $1,111,953 | $1,136,378 | $3,280,774 | $3,511,455 |
| Revenue—related parties | 26,625 | 79,527 | 90,813 | 161,515 |
| Total revenue | 1,138,578 | 1,215,905 | 3,371,587 | 3,672,970 |
| Operating costs and expenses: | ||||
| Cost of services (exclusive of depreciation, depletion, and amortization shown separately below) | 840,274 | 850,247 | 2,458,752 | 2,572,119 |
| General and administrative | 58,614 | 55,040 | 169,300 | 166,110 |
| Transaction and other costs | — | 202 | — | 1,804 |
| Depreciation, depletion, and amortization | 126,395 | 108,997 | 372,886 | 303,093 |
| Loss (gain) on disposal of assets | 6,017 | (3,808) | 6,105 | (6,981) |
| Total operating costs and expenses | 1,031,300 | 1,010,678 | 3,007,043 | 3,036,145 |
| Operating income | 107,278 | 205,227 | 364,544 | 636,825 |
| Other expense: | ||||
| Unrealized loss (gain) on investments, net | 2,727 | — | (4,474) | — |
| Interest income—related party | — | (531) | (478) | (1,254) |
| Interest expense, net | 8,589 | 7,307 | 24,193 | 22,396 |
| Total other expense, net | 11,316 | 6,776 | 19,241 | 21,142 |
| Net income before income taxes | 95,962 | 198,451 | 345,303 | 615,683 |
| Income tax expense | 22,158 | 49,843 | 81,186 | 151,658 |
| Net income | 73,804 | 148,608 | 264,117 | 464,025 |
| Less: Net income attributable to non-controlling interests | — | — | — | 91 |
| Net income attributable to Liberty Energy Inc. stockholders | $73,804 | $148,608 | $264,117 | $463,934 |
| Net income attributable to Liberty Energy Inc. stockholders per common share: | ||||
| Basic | $0.45 | $0.88 | $1.59 | $2.68 |
| Diluted | $0.44 | $0.85 | $1.55 | $2.62 |
| Weighted average common shares outstanding: | ||||
| Basic | 164,741 | 169,781 | 165,755 | 173,135 |
| Diluted | 168,595 | 173,984 | 169,947 | 177,284 |
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