Liberty Energy Inc. Announces Third Quarter 2026 Financial and Operational Results

Ron Gusek, Chief Executive Officer of Liberty Energy

“Liberty's completions trajectory has improved meaningfully from early year cyclical lows. Strong customer engagement and strengthening market fundamentals provide a more constructive outlook as we close out the year. Third quarter revenue of $1.2 billion and Adjusted EBITDA of $142 million reflected strong operational execution and modest price increases, partially offset by drilling-related delays and cost inflation headwinds.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“During the quarter, we delivered significantly lower fuel costs for our customers. Record natural gas substitution of over 60% of the total fuel consumed by our fleets provided annualized fuel savings of over $1 billion for our customers. This achievement reflects continued investment in natural gas fueled equipment and a concerted focus on the digital intelligence layer that drives meaningful operational optimization of equipment and widens the performance gap amongst industry frac fleets.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“In power, we are excited to share that Liberty Power Innovations (“LPI”) entered into a strategic development agreement with a leading frontier AI lab and a dedicated infrastructure platform for 1.2 GW of integrated power services at data center campuses. The agreement includes a significant prepayment of capacity fees and targeted execution of the first energy service agreement (“ESA”) contract for approximately 500 megawatts ("MW") by December 2026. The agreement also establishes a phased energization schedule from Q4 2027 through Q1 2029 and includes the substantive commercial terms for the additional long-term ESAs. This is the culmination of months of work on engineering and design between our teams, defining the integrated power architecture tailored to the generation, power quality, reliability and dynamic AI load requirements.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“We see significant opportunity to expand this relationship and are already working together to advance additional projects across other sites, including gas supply, interconnection, permitting and construction planning.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“We are building a durable portfolio across completions and power, anchored by the principles that have long defined Liberty: a relentless focus on our customers, continuous technology innovation, and disciplined execution. In completions, these capabilities have helped our customers improve performance and economics year after year, and we are applying that same approach in power as we develop differentiated solutions to meet the increasingly complex objectives of technology customers.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“These dual investments are strengthening our competitive advantage and expanding our market opportunities, positioning us to generate strong returns through cycles. Earlier this week we announced an 11% increase in our quarterly cash dividend, reflecting confidence in our strategy and a continued commitment to delivering long-term shareholder value.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“Today's announcement with a frontier AI lab underscores the strength of our integrated power platform and its ability to advance our customers' broader strategic objectives. Our relationship has been built on trust, collaboration, and a shared commitment to advancing AI infrastructure at scale.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“Over the past year, we have built a strong foundation spanning power design and architecture, power quality and load management, testing and validation, and long-term operations needed to support this project and others like it. We are excited to support a growing base of customers seeking reliable, high-performance power infrastructure for data centers and other industrial applications.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“North American oil and gas markets are increasingly constructive as global energy consumers place greater emphasis on secure, reliable energy supplies. Our disciplined investment in leading edge digital and equipment technologies through cycles expands our competitive advantage and increases our market opportunities over the coming years.”

Ron Gusek, Chief Executive Officer of Liberty Energy

“Looking forward, we expect fourth quarter weather and holiday seasonality to be partially offset by continued strength in demand, including activity deferred from the third quarter. We're proud of the Liberty team’s continued focus on ingenuity, innovation, and execution. We are well positioned today to serve the demand for energy services in the years ahead.”