Filing Flows › Liberty Energy (LBRT) › Q2 2026 › vs Q2 2025
Liberty Energy (LBRT) Q2 2026 vs Q2 2025 (year over year)
Liberty Energy's revenue rose $146M (+14%) from $1.0B in Q2 2025 to $1.2B in Q2 2026. Operating margin 1.1% against 3.6% (-2.5 pts).
Liberty Energy, Q2 2026: revenue $1.2B (+14% year over year), operating margin 1.1%, net earnings $43.1M, operating cash flow $133M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 1.1% | 3.6% | -2.5 pts |
| Net margin | 3.6% | 6.8% | -3.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $1.2B | $1.0B | $146M | +14% |
| Other income, net | $39.6M | $58.1M | −$18.5M | -32% |
| Operating profit | $12.7M | $37.1M | −$24.4M | -66% |
| Costs & expenses | $1.2B | $1.0B | $170M | +17% |
| Pre-tax earnings | $52.3M | $95.2M | −$42.9M | -45% |
| Cost of revenue | $980M | $812M | $168M | +21% |
| General & admin | $67.2M | $58.3M | $8.8M | +15% |
| Other operating costs | $128M | $135M | −$6.5M | -5% |
| Net earnings | $43.1M | $71.0M | −$27.9M | -39% |
| Income tax | $9.2M | $24.1M | −$15.0M | -62% |
| Depreciation & amortization | $114M | $129M | −$15.2M | -12% |
| Share-based compensation | $10.0M | $8.1M | $1.9M | +23% |
| Working capital & other | $34.3M | $37.9M | −$3.6M | -10% |
| Operating cash flow | $133M | $171M | −$37.5M | -22% |
| Capital expenditures | $224M | $138M | $86.4M | +63% |
| Negative free cash flow (OCF − capex) | $90.8M | −$33.1M | $124M | — |
Questions
How much did Liberty Energy's revenue grow year over year in Q2 2026?
Liberty Energy's revenue rose $146M (+14%) from $1.0B in Q2 2025 to $1.2B in Q2 2026. Operating margin 1.1% against 3.6% (-2.5 pts).