Shares of Liberty Oilfield Services Inc. (LBRT) plummeted by 5.08% in pre-market trading on Thursday, following the release of the company's fourth-quarter 2024 financial results.
Despite beating earnings estimates, the energy company reported a year-over-year decline in revenue and adjusted EBITDA, missing analysts' expectations. The revenue miss and weakened profitability overshadowed the earnings beat, triggering concerns among investors about the company's growth prospects.
LBRT's fourth-quarter revenue of $943.6 million fell short of the consensus estimate and marked a 12.2% decrease from the prior-year quarter. Adjusted EBITDA also declined to $155.7 million, missing forecasts and representing a significant drop from the $253 million reported in the same period last year.
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