Filing Flows › Liberty Energy (LBRT) › Q2 2025
Liberty Energy (LBRT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 25, 2025
Liberty Energy (LBRT) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), -10% from a year earlier and +7% from the quarter before. Operating margin was 3.6%, net earnings $71.0M (6.8% of revenue).
Liberty Energy, Q2 2025: revenue $1.0B (-10% year over year), operating margin 3.6%, net earnings $71.0M, operating cash flow $171M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +7% | -10% |
| Operating profit | $37.1M | +104% | -74% |
| Net earnings | $71.0M | +253% | -34% |
| Operating cash flow | $171M | -11% | -31% |
| Free cash flow | $33.1M | -43% | -71% |
What changed
Revenue was $1.0B in Q2 2025, down 10% year over year and up 7% from the previous quarter.
Operating profit was $0.04B, a 3.6% margin (down 8.7 points year over year). Total costs fell 1% while revenue fell 10%. Net earnings were $0.07B, down 34% year over year. The effective tax rate was 25.4%. Non-operating items added $0.06B, 61% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.17B (down 31% year over year), 240% of net earnings. Non-cash charges added back $0.13B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.04B. Capital expenditures of $0.14B left free cash flow of $0.03B.
Questions
What was Liberty Energy's revenue in the second quarter 2025?
Liberty Energy (LBRT) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), -10% from a year earlier and +7% from the quarter before.
Was Liberty Energy profitable in the second quarter 2025?
Operating profit was $37.1M (3.6% of revenue) and net earnings $71.0M.
Source: Liberty Energy 10-Q on SEC EDGAR.