Filing Flows › Liberty Energy (LBRT) › Q2 2026
Liberty Energy (LBRT) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 23, 2026
Liberty Energy (LBRT) reported revenue of $1.2B for the second quarter 2026 (Q2 2026), +14% from a year earlier and +16% from the quarter before. Operating margin was 1.1%, net earnings $43.1M (3.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +16% | +14% |
| Operating profit | $12.7M | -43% | -66% |
| Net earnings | $43.1M | +91% | -39% |
| Operating cash flow | $133M | 16× | -22% |
What changed
Revenue was $1.2B in Q2 2026, up 14% year over year and up 16% from the previous quarter.
Operating profit was $0.01B, a 1.1% margin (down 2.5 points year over year). Operating profit fell $0.02B even though revenue rose $0.15B versus Q2 2025, so costs grew faster than sales. Total costs grew 17% against revenue growth of 14%. The fastest-growing cost line was Cost of revenue (+21%). Net earnings were $0.04B, down 39% year over year. The effective tax rate was 17.5%. Non-operating items added $0.04B, 76% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.13B (down 22% year over year), 309% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.03B. Capital expenditures of $0.22B exceeded it, leaving free cash flow of −$0.09B.
Questions
What was Liberty Energy's revenue in the second quarter 2026?
Liberty Energy (LBRT) reported revenue of $1.2B for the second quarter 2026 (Q2 2026), +14% from a year earlier and +16% from the quarter before.
Was Liberty Energy profitable in the second quarter 2026?
Operating profit was $12.7M (1.1% of revenue) and net earnings $43.1M.
Source: Liberty Energy 10-Q on SEC EDGAR.