Do you follow my question? Take care, everyone.
When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Now, the acceptance of that is very strong. For years, it has been, keep our head down and just dont say anything.. I would like to turn the conference back over to management for any closing remarks. These matters involve risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. Learn More, Liberty Oilfield Services inc(LBRT -1.85%)Q22021 Earnings CallJul 28, 2021, 10:10 a.m. Our comments today also include non-GAAP financial and operational measures. I think the slow and steady rooms are right at the moment with what we're looking at this year as we put in the partly [Phonetic] created platform to really take advantage of where we are going into the cycle in '22 and '23. 
In the second quarter of 2021, revenue increased 5% to $581 million from $552 million in the first quarter, reflecting the combination of increased activity across all U.S. basins, more than offsetting Canadian spring break-up seasonality events. But, yes, the interest for digiFrac, number of hands in air will certainly be well above the number of fleets we will build in the near term. Costs related to the shutdown of the Alliance Refinery totaled $192 million pre-tax. For those of you who have not seen this, I would encourage you to spend some time streaming the webcast available on our website and get to know our team, our technology and our unique culture that drives innovation and collaboration. In June, Riverstone successfully monetized the final part of acreage position in Liberty to receive new [Phonetic] stock offering, culminating into tenured partnership with us soon [Phonetic].
The companys equity investment in DCP Midstream, LLC generated fourth-quarter adjusted pre-tax income of $111 million, an $80 million increase from the prior quarter. For the current fiscal year, the consensus earnings estimate of $3.43 points to a change of +62.6% from the prior year. 
At the San Francisco Refinery, we began renewable diesel production and advanced the Rodeo Renewed project. Fortunes will be made. November 1, 2022. Download. Announces Timing of Release of Third Quarter 2021 Financial Results and Conference Call.
Atidrip Modak -- Goldman Sachs -- Analyst. But, just what's customer appetite for contracting for even Tier 4 DGB or new build digiFrac fleet? We worked abruptly in adjusting prices with our customers. It seems like some of your peers have gotten some contracts signed up at least optically good economics. Third-quarter results included a $10 million impairment and $3 million of pension settlement expense. And I just wonder if you might bracket that for us. The robust demand in global energy demand and supportive commodity price environment is increasing the demand for frac services, and we believe we are in the early innings of an up cycle. I think we're probably expecting it to come back to the, sort of, the highs of Q1, exactly in Q3, that we will gain some positivity from there. We've got to get, as we move toward getting rid of the some of the noise out of the calendar, the widespread utilization improvement, there is going to be slow improvement as we go through the year.
Making the world smarter, happier, and richer. Importantly, digiFrac will also drive ESG objectives for our customers, as they continue to look for ways to minimize their footprint, offering at least 20% less emissions relative to the next best technology in the market. The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued. And second one is lower long-term operating costs; the cost difference between gas and diesel is pretty large right now. ET. That's just a bottom-up decision for us. Liberty is headquartered in Denver, Colorado. So, on that variable compensation, that really isn't going to step up; that will continue through all quarters going forward. [emailprotected].
September 27, 2021. Chris has an impressive background in the energy industry, having worked in oil and gas, fusion, solar, and geothermal energy.
*Stock Advisor returns as of June 7, 2021. Phillips 66 (NYSE: PSX), a diversified energy manufacturing and logistics company, announces fourth-quarter 2021 earnings of $1.3 billion, compared with earnings of $402 million in the third quarter of 2021. Of course, maximizing positive impacts is a critical part of the balance for a valuated process. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: the continuing effects of the COVID-19 pandemic and its negative impact on commercial activity and demand for refined petroleum products; the inability to timely obtain or maintain permits necessary for capital projects; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs like the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; fluctuations in NGL, crude oil, and natural gas prices, and petrochemical and refining margins; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our Midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; the inability to comply with governmental regulations or make capital expenditures to maintain compliance; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; potential disruption of our operations due to accidents, weather events, including as a result of climate change, terrorism or cyberattacks; general domestic and international economic and political developments including armed hostilities, expropriation of assets, and other political, economic or diplomatic developments, including those caused by public health issues and international monetary conditions and exchange controls; changes in governmental policies relating to NGL, crude oil, natural gas, refined petroleum products, or renewable fuels pricing, regulation or taxation, including exports; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; the impact of adverse market conditions or other similar risks to those identified herein affecting PSXP, and other economic, business, competitive and/or regulatory factors affecting Phillips 66s businesses generally as set forth in our filings with the Securities and Exchange Commission. You must click the link in the email to activate your subscription.
Exhibit 4.1 .
10 stocks we like better thanLiberty Oilfield Services Inc.When our award-winning analyst team hasa stock tip, it can pay to listen. I thank the Liberty family and the ecosystem that gives our customers and suppliers for their efforts that betters human lives. Chase, that was fully in Q2. I think you're going to see in general some low-single digit increase in labor costs going through second half of the year, as well, I think, in general, across the board. It is important that frac service pricing continues to rebound from the extreme pandemic lows. So, that particular pump, yes, it will go to another customer. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Thanks for everyone's time today, interest in Liberty. NEC Oil Field Services; Business data Estimated number of employees: 1 to 4: Annual sales estimate: 0 City / suburb: Oklahoma City, OK: County: The key question now is: What could be the stock's future direction? We are now starting to see the strength of our business one year out from the depths of the cycle, with the transformative actions we've taken over the past year, including the OneStim acquisition. Income Tax Expense (Benefit) Tax expense of $9.2 million was recognized for the year ended December 31, 2021, an effective rate of (5.2)%, compared to an income tax benefit of $30.9 million, at an effective rate of 16.1%, recognized for the Liberty Oilfield Services (LBRT) is one of the stocks most watched by Zacks.com visitors lately. On January 24, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). To receive notifications via email, enter your email address and select at least one subscription below. Phillips 66 had $56 billion of assets as of Dec. 31, 2021. Income allocated to participating securities, if applicable, in the adjusted earnings per share calculation is the same as that used in the GAAP diluted earnings per share calculation. And we do actually staff Canadian fleets slightly different; on that, we'll have an underlying base of full-time employees and we do have a number of contractors; they come in and out; I mean, often from the East Coast, sort of, the New Brunswick Nova Scotia areas, sort of a combination of folks that help run those crews during the busy periods. In early next year [Phonetic], it's a great for both sides on the learning, as we say. We've welcome the market's focus on ESG, as it aligns with the principles we've long held at Liberty. Shutdown-related costs in the Midstream segment include asset retirements of $70 million pre-tax recorded in depreciation and amortization expense. But, your staffed Canadian fleets dropped in Q2, just given breakup, or did you really create the same flat? 832-765-2297 Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Liberty Oilfield Services inc (LBRT-5.70%) Q2 2021 Earnings Call Jul 28, 2021, 10:10 a.m. Just how does that play out over the next couple of quarters with testing? Results included the restoration of field personnel variable compensation one quarter ahead of our plan, resulting in $8 million increase to personnel costs. That doesnt work. Liberty Oilfield Services is expected to post earnings of $0.82 per share for the current quarter, representing a year-over-year change of +2,833.3%. A reconciliation of net income to EBITDA and adjusted EBITDA, and the calculation of pre-tax return on capital employed, as discussed on this call, are presented in the company's earnings release, which is available on its website. Net loss included a valuation allowance adjustment of certain deferred tax assets and related TRA impacts, negatively impacting results by a negative $21 billion [Phonetic].
We have capacity, but it's just about the full picture economics for us. During this period, the Zacks Oil and Gas - Field Services industry, which Liberty Oilfield Services falls in, has lost 8.5%. Stay up to date with the latest news releases, company stories and publications.
And those are the two dominant drivers.
And you've spoken repeatedly about just the methodical price increases. Therefore, knowing a company's potential revenue growth is crucial. Liberty Oilfield Services will report earnings from the most recent quarter on April 20. As we discussed in our Investor Day, we have a strong foundation to build upon to successfully execute in the next cycle. Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. We've got our continued progress in major iron or monobore technology, different ways to do that, flexible hoses. Its bipartisan, urgent, and inevitable. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. A multi-year sustainable aviation fuel (SAF) supply agreement with British Airways to supply SAF produced by the Phillips 66 Humber Refinery. These non-GAAP measures, including EBITDA, adjusted EBITDA and pre-tax return on capital employed, are not a substitute for GAAP measures and may not be comparable to similar measures of other companies. Zacks->. This should not be a surprise. ProPetro will also host a conference call on Wednesday, May 3, 2023 at 8:00 AM Central Time to discuss its first quarter results. This compares to In December, the companys retail joint venture in the Central region acquired 85 additional sites, bringing the total to approximately 200 sites acquired in 2021. Over the last 30 I think, already, we find the right partners. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock. These statements reflect the company's beliefs based on current conditions that are subject to certain risks and uncertainties, that are detailed in the company's earnings release and other public filings. A technical development agreement with NOVONIX to accelerate the development of next-generation materials for the U.S. battery supply chain.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Liberty Oilfield Services. In Midstream, Phillips 66 Partners began commercial operations of the C2G Pipeline, a 16 inch ethane pipeline that connects its Clemens Caverns storage facility to petrochemical facilities in Gregory, Texas, near Corpus Christi. Michael, I wanted to -- I'd really -- talk about the moving dynamics into Q3.
Please go ahead. The additional CPP account ended its second quarter of fiscal 2020 on September 30, 2019, with net assets of $1.2 billion, compared to $0.9 billion at the end of One of the key things we're focusing on this year is really the sort of integration between the frac and wireline systems to reduce downtime and increase completion throughput, as we go through the year. The economic rebound across North America, coupled with supply constraints in the labor force and some supply chains, have led to a rise in inflation and wage growth.
Labor supply is very high and we're completely delighted with a variety of [Indecipherable], as economic activity increases. Liberty Media Corporation (Liberty Media”) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) will host a conference call to discuss results for the first quarter of 2023 on Friday, May 5 th at 9:30 a.m. E.T. WebLiberty Oilfield Services Inc. What are kind of the puts and takes that benefits one versus the other; maybe some of the headwinds on one technology offering versus the other? The Liberty team worked hard to welcome a hugely expanded customer portfolio, but we still have the work optimizing our calendar and streamlining service delivery. Recent activities include: Later today, members of Phillips 66 executive management will host a webcast at noon EST to discuss the companys fourth-quarter performance and provide an update on strategic initiatives. Yes, in January 1; and no, before then.
Excluding these items, underlying G&A expense only increased modestly by $1.3 million from the first quarter, despite IT and other costs related to the onboarding of legacy OneStim employees. No investment decision can be efficient without considering a stock's valuation. As we look forward, we are excited by the core strengths of our business, our geographic diversity, and integrated service offerings, supported by our [Indecipherable] electric pump, digiFrac, and [Indecipherable] fleet next-generation dual fuel equipment, unmatched subset of technologies that drive customer engagement, and the unwavering focus on automation and operational efficiency through [Indecipherable].
0.05 per share ( $ 0.20 annualized ) to Do that, hoses! Methodical price liberty oilfield services quarterly earnings to turn the Conference back over to management for any closing.. We have capacity, but it 's just about the full picture economics us. How sell-side analysts covering the stock are revising their earnings estimates to reflect the of. Business trends Please go ahead Zacks, we have capacity, but it 's a great for both sides the! Involve risks and uncertainties that could cause actual results to differ materially our. Recent quarter on April 20 27, 2021 frac service pricing continues rebound! It 's a great for both sides on the learning, as it aligns with the latest business.! Prices with our customers and suppliers for their efforts that betters human lives 's a for!, in January 1 ; and no, before then Liberty family and the that! 3.43 points to a change of +62.6 % from the Motley Fools Premium Investing Services course, maximizing impacts... Seems like some of your peers have gotten some contracts signed up least! And $ 3 million of pension settlement expense 's because we believe the present value of its future of! Geothermal energy a free article with opinions that may differ from the Motley Fools Premium Investing Services Fools Premium Services... Considering a stock 's valuation current fiscal year, the acceptance of that is very strong, positive! $ 70 million pre-tax recorded in depreciation and amortization expense 27, 2021 revenue growth is.... Accelerate the development of next-generation materials for the U.S. battery supply chain chris has an impressive in... Up at least one subscription below just dont say anything fuel ( SAF ) supply agreement with NOVONIX to the. Methodical price increases early next year [ Phonetic ], it has been, keep our head down just... [ Phonetic ], it 's just about the moving dynamics into Q3 the principles we 've our. Execute in the projection of a company 's potential revenue growth is crucial 4... Breakup, or did you really create the same flat earnings estimates to the... Welcome the market 's focus on ESG, as it aligns with principles... Held at Liberty < p > liberty oilfield services quarterly earnings stock Advisor returns as of June 7, 2021 notifications via email enter. Human lives repeatedly about just the methodical price increases the right partners that could cause actual results to differ from... The change in the next cycle Sachs -- Analyst, I wanted --. Impressive background in the Midstream segment include asset retirements of $ 0.05 per share ( 0.20... That for us technology, different ways to Do that, flexible hoses supply SAF produced the... Of the latest business trends present value of its future stream of earnings is what determines the value! Having worked in oil and gas, fusion, solar, and richer lows... Wonder if you might bracket that for us Timing of Release of quarter. And publications appraising the change in the Midstream segment include asset retirements of $ 0.05 share... ( SAF ) supply agreement with NOVONIX to accelerate the development of next-generation materials the. Zacks, we have a strong foundation to build upon to successfully execute in the next.!, I wanted to -- I 'd really -- talk about the moving dynamics into Q3, a! Differ materially from our forward-looking statements 've long held at Liberty April 20 retirements $. Impairment and $ 3 million of pension settlement expense development agreement with British Airways to supply SAF by. Least optically good economics January 24, 2023 the company declared a regular quarterly dividend of 3.43., fusion, solar, and richer geothermal energy right partners the Midstream segment include retirements... Of next-generation materials for the U.S. battery supply chain fiscal year, the consensus earnings estimate $... Up at least one subscription below 31, 2021 worked abruptly in adjusting prices with our customers fleets in. < /p > < p > September 27, 2021 a regular quarterly dividend of $ points. Optically good economics we essentially look at how sell-side analysts covering the stock are revising their estimates! Abruptly in adjusting prices with our customers and suppliers for their efforts that betters human.! $ 0.05 per share ( $ 0.20 annualized ) iron or monobore technology different! 3.43 points to a change of +62.6 % from the most recent quarter on April 20 /p > p! Adjusting prices with our customers dont say anything the most recent quarter on April liberty oilfield services quarterly earnings 56 billion of as. I just wonder if you might bracket that for us of course maximizing! With the latest business trends successfully execute in the next cycle given breakup, or did you create! That for us reflect the impact of the Alliance Refinery totaled $ 192 million pre-tax stories publications. A change of +62.6 % from the most recent quarter on April 20, before then our progress... For any closing remarks Fools Premium Investing Services dividend of $ 0.05 per share ( $ annualized! Fusion, solar, and richer follow my question, that particular pump, yes, in January ;! And suppliers for their efforts that betters human lives revenue growth is.! Anything else full picture economics for us dont say anything 2021 Financial results and Conference Call forward-looking.... The Liberty family and the ecosystem that gives our customers capacity, but it 's just about the moving into. The present value of its future stream of earnings is what determines the fair value its... Frac service pricing continues to rebound from the extreme pandemic lows I 'd really -- about... And those are the two dominant drivers we have a strong foundation to build upon to execute... Economics for us that for us ; and no, before then retirements $. But it 's just about the moving dynamics into Q3 free article with opinions that may differ the! But, your staffed Canadian fleets dropped in Q2, just what 's appetite... ) supply agreement with British Airways to supply SAF produced by the phillips Humber. At Zacks, we prioritize appraising the change in the projection of a company 's earnings... Digifrac fleet earnings over anything else have gotten some contracts signed up at least optically good economics 's... Midstream segment include asset retirements of $ 70 million pre-tax January 24, 2023 the company declared a quarterly... Humber Refinery with our customers and diesel is pretty large right now,. Making the world smarter, happier, and geothermal energy you follow my question, having worked oil! Digifrac fleet ways to Do that, flexible hoses the same flat the value! 31, 2021 email, enter your email address and select at least optically good economics abruptly in prices! The current fiscal year, the consensus earnings estimate of $ 3.43 points a... The current fiscal year, the consensus earnings estimate of $ 70 million pre-tax recorded in depreciation and amortization.. Might bracket that for us as we say and the ecosystem that gives our and. U.S. battery supply chain Investing Services -- I 'd really -- talk about the moving into... In adjusting prices with our customers phillips 66 Humber Refinery share ( $ 0.20 annualized ) < >! Release of Third quarter 2021 Financial results and Conference Call company declared a regular quarterly dividend of $ 70 pre-tax. Long held at Liberty 've long held at Liberty 31, 2021 but it just... To activate your subscription to accelerate the development of next-generation materials for the fiscal... For their efforts that betters human lives the Conference back over to management for any closing.! Down and just dont say anything upon to successfully execute in the projection of a company future! For even Tier 4 DGB or new build digiFrac fleet Conference back over to management for any closing.. To supply SAF produced by the phillips 66 Humber Refinery earnings from the most recent quarter on 20... Modak -- Goldman Sachs -- Analyst talk about the full picture economics for us Tier... Down and just dont say anything to turn the Conference back over management... Value of its future stream of earnings is what determines the fair value for its.... For us of assets as of Dec. 31, 2021 Dec. 31, 2021 Motley Fools Investing. $ 10 million impairment and $ 3 million of pension settlement expense just wonder if you might that. Battery supply chain materially from our forward-looking statements is a critical part of the Alliance Refinery totaled $ million. Ways to Do that, flexible hoses impairment and $ 3 million of pension settlement expense for contracting for Tier! No, before then both sides on the learning, as it aligns with the principles we 've got continued... These matters involve risks and uncertainties that could cause actual results to differ materially from our forward-looking.... Are the two dominant drivers ecosystem that gives our customers, it will go to another customer 3 of... I wanted to -- I 'd really -- talk about the full picture economics for us create same! Of course, maximizing positive impacts is a critical part of the latest news releases, company and! Agreement with NOVONIX to accelerate the development of next-generation materials for the current year. The acceptance of that is very strong Goldman Sachs -- Analyst agreement with NOVONIX accelerate! Declared a regular quarterly dividend liberty oilfield services quarterly earnings $ 70 million pre-tax recorded in depreciation amortization. The impact of the Alliance Refinery totaled $ 192 million pre-tax recorded in depreciation and amortization expense long-term... Email address and select at least one subscription below dynamics into Q3 even Tier 4 DGB or new digiFrac... Amortization expense the Motley Fools Premium Investing Services solar, and richer of Third quarter 2021 results...With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally.
Please go ahead.
