BUZZ-Liberty Energy rises on 'better-than-feared' Q1 results

Reuters
04-17
BUZZ-Liberty Energy rises on 'better-than-feared' Q1 results

** Shares of oilfield services provider Liberty Energy LBRT.N rise 12.25% to $12.83 in pre-market trade

** LBRT posts Q1 adj. EBITDA of $168 mln beating est. of $156 mln, according to data compiled by LSEG

** RBC Capital Markets says the beat has positive implications for the stock, "primarily by virtue of being better than feared"

** "The better-than-feared results likely have positive read-through implications to North American-weighted drilling and completion companies" - RBC analyst Keith Mackey

** For Q2, LBRT expects sequential growth in revenue and profitability from higher utilization

** "As global oil markets contend with tariff impacts, geopolitical tensions, and oil supply concerns, North American producers are evaluating a range of macroeconomic scenarios," Liberty says

** LBRT adds that the recent pause on tariffs has momentarily eased pressure on the global economy, and in turn, global oil demand concerns

** ATB Capital Markets view LBRT's results and Q2 outlook positively

** LBRT stock down 42.53% YTD

(Reporting by Arunima Kumar in Bengaluru)

((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))

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