LBRT

As the Q2 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the oilfield services industry, including Liberty Energy (NYSE:LBRT) and its peers. Oilfield services companies provide equipment, technology, and services enabling exploration and production activities, including drilling, completion, well intervention, and reservoir evaluation. Their fortunes closely track upstream capital spending cycles. Tailwinds include increased drilling activity during favorable commodity environments, demand for efficiency-enhancing technologies, and growing offshore and unconventional resource development. Headwinds include significant revenue volatility tied to oil and gas price swings and producer spending discipline. Intense competition pressures pricing and margins, while the energy transition may structurally reduce long-term demand. Workforce availability and technological disruption require continuous adaptation. The 26 oilfield services stocks we track reported a very strong Q2. As a group, revenues beat analysts’ consensus estimates by 4.4%. Luckily, oilfield services stocks have performed well with share prices up 10.7% on average since the latest earnings results. Operating approximately 40 active fleets across North America's most productive shale basins, Liberty Energy (NYSE:LBRT) provides hydraulic fracturing services that help oil and gas companies extract resources from shale formations. Liberty Energy reported revenues of $1.19 billion, up 14% year on year. This print exceeded analysts’ expectations by 8.5%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS and EBITDA estimates. “The second quarter demonstrated strong operational execution as our team continued to deliver proven quality services amidst commodity price volatility and heightened geopolitical uncertainty. Liberty delivered revenue of $1.2 billion and Adjusted EBITDA of $151 million, leveraging the benefits of our strategic investments and AI-driven technology advancements as the industry modestly strengthened from early year cyclical lows,” commented Ron Gusek, Chief Executive Officer. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 23% since reporting and currently trades at $19.35. Is now the time to buy Liberty Energy? Access our full analysis of the earnings results here, it’s free. Serving over 150,000 customers from commercial jets to cargo ships to heating oil consumers, World Kinect (NYSE:WKC) procures and delivers fuel and energy products to airlines, shipping companies, trucking fleets, and industrial businesses worldwide. World Kinect reported revenues of $13.59 billion, up 50.3% year on year, outperforming analysts’ expectations by 27.7%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates. World Kinect scored the biggest analyst estimate beat in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 3.3% since reporting. It currently trades at $35.09. Is now the time to buy World Kinect? Access our full analysis of the earnings results here, it’s free. Operating exclusively in the Permian Basin—one of America's most prolific oil-producing regions—ProPetro (NYSE:PUMP) provides hydraulic fracturing services that pump high-pressure fluid and sand into oil wells to release trapped hydrocarbons. ProPetro reported revenues of $305.8 million, down 6.2% year on year, falling short of analysts’ expectations by 1.6%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates. Interestingly, the stock is up 6.8% since the results and currently trades at $11.39. Read our full analysis of ProPetro’s results here. Operating the largest fleet of super-spec rigs in North America with technology that can drill horizontal wells over two miles long, Helmerich & Payne (NYSE:HP) provides drilling rigs and crews to oil and gas companies that need wells drilled to extract hydrocarbons from underground. Helmerich & Payne reported revenues of $1.03 billion, flat year on year. This print surpassed analysts’ expectations by 5.4%. It was a strong quarter as it also logged an impressive beat of analysts’ EBITDA estimates. The stock is up 28.1% since reporting and currently trades at $42.63. Read our full, actionable report on Helmerich & Payne here, it’s free. Operating primarily in the Permian Basin with 10 hydraulic fracturing fleets, RPC (NYSE:RES) provides specialized services and equipment like hydraulic fracturing, coiled tubing, and cementing to help oil and gas companies complete and maintain wells. RPC reported revenues of $460.9 million, up 9.5% year on year. This result beat analysts’ expectations by 1.1%. It was a stunning quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates. The stock is up 25.1% since reporting and currently trades at $6.41. Read our full, actionable report on RPC here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

It has been about a month since the last earnings report for Liberty Energy (LBRT). Shares have lost about 1.9% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Liberty Energy due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts. Liberty Energy reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. Liberty Energy’s adjusted EBITDA was $151 million, representing a 16% decrease from the year-ago quarter’s $181 million. However, the figure beat our model estimate of $120.1 million. Ahead of the earnings release, Liberty Energy’s board of directors approved a cash dividend of 9 cents per share on Class A common stock. The dividend will be payable on Sept. 18, 2026, to its shareholders on record as of Sept. 4. The company distributed $15 million in cash dividends to its shareholders this quarter. Liberty Energy reported total costs and expenses of $1.2 billion in the second quarter, increasing 17% from the year-ago quarter’s level. Moreover, our estimate for the metric was pegged at $1 billion. During this quarter, Liberty Energy continued to strengthen its long-term growth strategy through several strategic initiatives. The company formed a strategic alliance with SLB to deliver modular infrastructure and integrated power generation solutions for global data center projects while advancing related technologies. It also launched Liberty Wholesale Commodities (LWC), expanding its ChorusSM platform through direct participation in ERCOT power markets. To support its power generation roadmap through 2030, Liberty Energy secured additional long-term equipment purchase agreements with leading OEMs. The company is also deploying its first digiPrimeSM fleet in Canada for a cross-border customer and has begun commercial operations of its proprietary SLXRRYTM last-mile sand slurry delivery system, which lowers delivered sand costs while reducing truck traffic, road wear, dust and emissions. Liberty Energy announced a joint venture with PowerBridge to develop powered data center campuses, initially supporting a planned 2-GW facility in West Texas. The partnership will combine PowerBridge’s digital campus infrastructure with Liberty Power Innovations’ modular power generation and energy management capabilities to accelerate deployment for hyperscale and AI customers. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Further, the company’s total liquidity, including availability under the credit facility, amounted to $1 billion. In the reported quarter, the company spent $221.5 million on its capital program, down from our estimate of $296 million. LBRT’s management highlighted the company’s continued progress in strengthening its integrated power platform while reinforcing its leadership in completion services. The company emphasized that its LPI platform combines advanced power system architecture with energy market optimization, enabling flexible integration of power generation equipment from multiple global manufacturers. During the quarter, LBRT expanded its supply chain by securing additional equipment purchase agreements with Bergen Engines, Wärtsilä and other leading suppliers, enhancing its ability to optimize power generation across diverse operating environments. The formation of Liberty Wholesale Commodities (LWC) further extends the company’s Chorus offering by enabling direct participation in ERCOT power markets while integrating on-site generation with both ERCOT and PJM markets for large-load customers. Management believes these initiatives strengthen the company’s ability to deliver resilient, integrated energy solutions while creating a differentiated competitive advantage. The company also reiterated its commitment to disciplined capital allocation, operational excellence and long-term investments that enhance shareholder value. Looking ahead, management remains constructive on the long-term outlook for North American energy despite near-term geopolitical and macroeconomic uncertainties. The company expects heightened concerns surrounding global energy security and supply diversification to increase demand for North American oil, natural gas and refined products, supported by expanding LNG demand, storage infrastructure investments and replenishment of strategic reserves. While oil markets experienced considerable volatility during the quarter due to Middle East conflicts and supply chain disruptions, management believes these events reinforce the strategic importance of reliable North American energy supplies. In the oilfield services business, modest improvements in frac activity and pricing, combined with sustained demand for next-generation technologies, are expected to support market recovery, although producer spending is likely to remain measured amid commodity price volatility. At the same time, accelerating investments in AI-driven data centers and industrial power infrastructure continue to create significant opportunities for the company’s integrated power business. Management noted that customers increasingly seek partners capable of delivering end-to-end power solutions encompassing infrastructure development, energy management and long-term operational support. Entering the third quarter, LBRT remains encouraged by recent business momentum and is focused on executing growth opportunities across the evolving energy ecosystem while prudently navigating an uncertain global environment. It turns out, estimates review have trended upward during the past month. The consensus estimate has shifted 11.7% due to these changes. Currently, Liberty Energy has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Liberty Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Liberty Energy is part of the Zacks Oil and Gas - Field Services industry. Over the past month, Halliburton (HAL), a stock from the same industry, has gained 9.1%. The company reported its results for the quarter ended June 2026 more than a month ago. Halliburton reported revenues of $5.71 billion in the last reported quarter, representing a year-over-year change of +3.7%. EPS of $0.55 for the same period compares with $0.55 a year ago. Halliburton is expected to post earnings of $0.58 per share for the current quarter, representing no change from the year-ago quarter. Over the last 30 days, the Zacks Consensus Estimate has changed -3.5%. Halliburton has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report Halliburton Company (HAL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Solaris Energy Infrastructure, Inc. SEI reported second-quarter 2026 adjusted earnings of 39 cents per share, up 14.7% year over year, and beat the Zacks Consensus Estimate of 31 cents by 25.81%. The outperformance was driven by the exceptional results of the Power Solutions segment. Revenues of $219 million increased 47% year over year and topped the consensus estimate of $198 million by 10.78%, driven by higher leasing and service revenues. The company’s leasing and service revenues increased 70.8% and 30% year over year, respectively. Solaris Energy Infrastructure, Inc. price-consensus-eps-surprise-chart | Solaris Energy Infrastructure, Inc. Quote Net income reported by SEI was $25.2 million in the quarter. On a non-GAAP basis, adjusted EBITDA was $108.3 million, up from $60.6 million in the year-ago period, driven primarily by higher Power Solutions activity levels and a lift in Logistics profitability. On Aug. 4, 2026, the company’s board of directors approved a third-quarter 2026 dividend of 12 cents per share, payable on Sept. 25 to its shareholders of record as of Sept. 15. Solaris Power Solutions:Power Solutions revenues increased to $158.3 million compared with $75.6 million in the year-ago period. Capacity earning revenues in the segment averaged 950 MW during the quarter. Adjusted EBITDA from the segment increased to $96.4 million, driven by increased ancillary service revenues. Solaris Logistics Solutions: Logistics Solutions delivered revenues of $61 million, decreasing 17.2% from the year-ago period. Adjusted EBITDA from the segment increased year over year to $24.7 million, driven by increased system activity and a more favorable project mix. Solaris Energy expanded three long-term contracts that are expected to add more than $100 million of annual adjusted EBITDA. The expanded Hatchbo agreement now covers a turnkey, roughly 660-MW power plant, including balance-of-plant equipment, batteries and operating services. The contract term was extended to as long as 18 years, and revenues are expected to begin in January 2027. SEI also broadened the scope of its April 2026 agreement with a global technology customer to include balance of plant, energy storage and natural gas procurement and management. Separately, a large energy customer increased contracted microgrid capacity to about 80 MW from 60 MW and extended the agreement to six years from four years. The acquisition of Global Energy Services Alliance, or GESA, expands SEI’s installation, commissioning, operations, maintenance and aftermarket capabilities. GESA added more than 600 skilled employees and brings project experience spanning more than 30 countries. Management sees the acquisition as a way to improve project execution while expanding third-party service opportunities. Solaris Energy also has approximately 800 MW of open capacity with relatively near-term delivery timelines and said it is in advanced discussions with multiple customers regarding long-term deployments. For the third quarter of 2026, the Zacks Rank #5 (Strong Sell) company raised adjusted EBITDA guidance to $90-$105 million from $80-$95 million previously, and established fourth-quarter adjusted EBITDA guidance of $100-$120 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. At quarter-end, Cash and cash equivalents attributable to Solaris Energy were $888.5 million, while long-term debt attributable to SEI (net of current portion) was $1.6 billion, with a debt-to-capitalization of 58%. During the quarter, the company completed an inaugural $1.3 billion senior, unsecured notes offering and secured a new, undrawn $650 million credit facility. While we have discussed SEI’s second-quarter results in detail, let’s see how some other oilfield service companies have fared this earnings season. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, 2026, the backlog for Energy Equipment capital orders was $4.1 billion, reflecting a $220 million decrease from the prior year. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Further, the company’s total liquidity, including availability under the credit facility, amounted to $1 billion. Oceaneering International, Inc. OII reported second-quarter 2026 earnings of 65 cents per share, up from 54 cents in the year-ago quarter. Higher year-over-year operating income from the company's Subsea Robotics, Manufactured Products, Offshore Projects Group and Aerospace and Defense Technologies segments contributed to this improvement. Total revenues of $768.2 million increased approximately 10% from the year-ago quarter’s $698.2 million. This increase reflected revenue growth across all segments except Integrity Management & Digital Solutions. As of June 30, 2026, OII had cash and cash equivalents worth $629.5 million and $688.9 million, respectively, along with a long-term debt of about $490.2 million. The debt-to-capitalization was 29.6%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Solaris Energy Infrastructure, Inc. (SEI) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Pembina Pipeline Corporation PBA reported second-quarter 2026 earnings per share of 48 cents, which missed the Zacks Consensus Estimate of 49 cents. However, it increased from the year-ago quarter’s level of 47 cents. This improvement was primarily driven by strong underlying operational performance and volume growth across the Pipelines and Facilities and Marketing & New Ventures divisions. PBA’s Pipelines, Facilities and Marketing & New Ventures volumes for the period were 2,809 thousand barrels of oil equivalent per day (mboe/d), 889 mboe/d and 372 mboe/d, respectively, beating the consensus estimates of 2,777 mboe/d, 302 mboe/d and 362mboe/d. This Calgary-based oil and gas storage and transportation company’s quarterly sales of $1.55 billion increased about 20% year over year, driven by higher revenue performance across all three segments. Pembina Pipeline Corp. price-consensus-eps-surprise-chart | Pembina Pipeline Corp. Quote The company’s operating cash flow increased 13.5% to C$897 million. Adjusted EBITDA increased about 5% year over year to C$1.06 billion. Pembina Pipeline’s board of directors declared a quarterly cash dividend of 73.5 Canadian cents per share to its common shareholders of record as of Sept. 15. The payout will be made on Sept. 29, 2026. During the second quarter, Pembina Pipeline advanced major pipeline and facilities projects, approved nearly C$3 billion (net) for the Greenlight Electricity Center and Heartland Extraction Plant, joined a West Coast oil pipeline initiative, and expanded long-term ethane agreements, supporting its 3Cs strategy and 5-7% annual fee-based adjusted EBITDA per-share growth target through 2030. Pipelines: Adjusted EBITDA of C$626 million decreased about 3.1% from the year-ago quarter’s level. This was caused primarily by lower net revenues on Alliance Pipeline as a result of the Alliance New Toll Structure. Volumes in this segment saw a 1.5% year-over-year increase to 2,809 mboe/d. Facilities: Adjusted EBITDA of C$386 million increased from the year-ago quarter’s C$331 million, driven primarily by higher revenues from the Redwater Complex as a result of RFS IV entering service in May 2026 and no comparable planned outage as occurred in the second quarter of 2025 and higher contributions from certain PGI assets due to higher volumes from the Wapiti Expansion entering service in March 2026, stronger performance at the Dawson assets, fewer planned outages compared to the prior period and higher recoveries driven by an asset upgrade. Volumes of 889 mboe/d increased by about 7.6% year over year. Marketing & New Ventures: Adjusted EBITDA of C$111 million increased from the year-ago quarter’s C$74 million. This increase was driven by wider WCSB and U.S. NGL frac spreads resulting from higher NGL prices, including the benefits from exposure to premium propane prices in Asian markets through West Coast exports, higher crude oil prices and sales volumes and higher realized losses on NGL-based derivatives and lower realized gains on crude oil-based derivatives. Volumes of 372 mboe/d increased 23.2% year over year. The company spent C$218 million as capital expenditure in the quarter under review compared with C$197 million a year ago. As of June 30, 2026, PBA had cash and cash equivalents worth C$153 million and C$19.8 billion in long-term debt. Debt-to-capitalization was 53.7%. This Zacks Rank #4 (Sell) company reiterated its 2026 adjusted EBITDA guidance of C$4.35 billion-C$4.55 billion, noting that it is currently trending to the midpoint of the range. At the midpoint of its guidance range, Pembina Pipeline expects third-quarter adjusted EBITDA to be lower than the second quarter due to seasonal trends, spending timing and certain one-time items, with stronger earnings anticipated in the fourth quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed PBA’s second-quarter results in detail, let us take a look at three other key reports in this space. Halliburton Company HAL reported second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. The outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level. Meanwhile, HAL’s second-quarter revenues of $5.7 billion were up 3.7% year over year and beat the Zacks Consensus Estimate of $5.5 billion. The outperformance was driven by higher revenues in both segments of the company — the Completion and Production segment and the Drilling and Evaluation segment. Halliburton reported second-quarter capital expenditure of $235 million. As of June 30, 2026, the company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Houston, TX-based oil and gas storage and transportation company Kinder Morgan Inc. KMI reported second-quarter 2026 adjusted earnings of 37 cents per share, beating the Zacks Consensus Estimate of 31 cents by 19.35%. Earnings increased 32.1% from 28 cents in the year-ago quarter. KMI’s revenues increased 10.8% year over year to $4.48 billion from the prior year’s figure of $4.04 billion. Revenues surpassed the consensus estimate of $4.29 billion by 4.43%. Cash flow from operations was $1.96 billion in the quarter. Meanwhile, free cash flow was $978 million and free cash flow after dividends reached $313 million. As of June 30, 2026, KMI reported $89 million in cash and cash equivalents. Net debt stood at $32.03 billion at quarter-end. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pembina Pipeline Corp. (PBA) : Free Stock Analysis Report Halliburton Company (HAL) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

TechnipFMC plc FTI reported second-quarter 2026 adjusted earnings of 91 cents per share, which beat the Zacks Consensus Estimate of 80 cents. The bottom line also increased sharply from the year-ago quarter’s reported earnings of 68 cents. The outperformance was driven by strong operational execution, particularly in the Subsea segment, along with improved margins. Houston, TX-based oil and gas equipment and services company’s quarterly revenues of $2.8 billion beat the Zacks Consensus Estimate of $2.7 billion. The top line also increased about 9% compared with the year-ago quarter's reported figure of $2.5 billion, driven by higher revenue contributions from the Subsea segment. TechnipFMC plc price-consensus-eps-surprise-chart | TechnipFMC plc Quote On July 28, FTI’s board of directors declared a quarterly cash dividend of 5 cents per share to its common shareholders of record as of Aug. 18, 2026. The payout, unchanged from the previous quarter, will be made on Sept. 2. During the quarter, the company bought back 5.9 million ordinary shares at a cost of $420.1 million. When combined with dividend payments of $19.8 million, total distributions to shareholders amounted to $439.9 million. TechnipFMC reported total company adjusted EBITDA of $581.9 million, up 11.7% year over year. Adjusted EBITDA margin expanded 60 basis points to 21.1%. Excluding a foreign exchange loss of $19.3 million, adjusted EBITDA came in at $601.2 million, with a margin of 21.8%. Total company inbound orders were $2.7 billion, down 3.7% year over year. Additionally, the reported figure missed the Zacks Consensus Estimate by $5.6 million. Backlog at the end of the quarter was $16.4 billion, down 1.2% from the prior-year period. Moreover, the reported figure missed the Zacks Consensus Estimate by $151 million. Subsea: Revenues from this segment totaled $2.5 billion, up 12.2% from the year-ago quarter’s level of $2.2 billion. The increase was aided by increased project activity, particularly iEPCI projects in the North Sea and the Mediterranean. Moreover, the reported figure beat the Zacks Consensus Estimate by 4.3%. Subsea adjusted EBITDA was $577.2 million, up 19.5% from the year-ago quarter’s $482.9 million. The reported figure also beat the Zacks Consensus Estimate by 5.6%. Adjusted EBITDA margin expanded to 23.2% from 21.8% a year earlier. The segment’s inbound orders were $2.5 billion, down 1.8% year over year, while backlog rose 0.1% to $15.8 billion. Surface Technologies: Revenues from this unit totaled $276.2 million, down 13.3% year over year from $318.4 million. The decline was mainly the result of reduced activity in the Middle East due to the ongoing conflict and lower activity in North America. However, the reported figure missed the Zacks Consensus Estimate by 3%. Surface Technologies' adjusted EBITDA was $50 million, down 4.4% from the year-ago quarter’s $52.3 million. However, the reported figure beat the Zacks Consensus Estimate by 4.4%. Adjusted EBITDA margin improved to 18.1% from 16.4%. Inbound orders were $219.5 million, down 21% year over year, while backlog declined 27.4% to $606.8 million. TechnipFMC reported $2.3 billion in costs and expenses, up 6.2% from the year-ago quarter’s $2.1 billion. The company generated $548 million in cash flow from operating activities in the quarter. Capital expenditures totaled $60.1 million, resulting in free cash flow of $487.9 million. As of June 30, 2026, TechnipFMC had cash and cash equivalents of $991.8 million and long-term debt of $286.6 million, with a debt-to-capitalization of 8%. TechnipFMC reaffirmed its full-year 2026 guidance, originally issued on Feb. 19, 2026. For the Subsea segment, the company expects revenues in the range of $9.2-$9.6 billion, with an adjusted EBITDA margin of 21-22%. For Surface Technologies, revenues are projected in the band of $1.15-$1.3 billion, with an adjusted EBITDA margin of 16.5-18%. This Zacks Rank #3 (Hold) company also expects a net corporate expense of $115-$125 million, a net interest expense of $10-$20 million, an effective tax rate of 27-31%, capital expenditures of approximately $340 million and free cash flow of $1.3-$1.45 billion for 2026. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed FTI’s second-quarter results in detail, let us take a look at three other key reports in this space. Halliburton Company HAL reported second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. The outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level. Meanwhile, HAL’s second-quarter revenues of $5.7 billion were up 3.7% year over year and beat the Zacks Consensus Estimate of $5.5 billion. The outperformance was driven by higher revenues in both segments of the company — the Completion and Production segment and the Drilling and Evaluation segment. Halliburton reported second-quarter capital expenditure of $235 million. As of June 30, 2026, the company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Houston, TX-based oil and gas storage and transportation company Kinder Morgan Inc. KMI reported second-quarter 2026 adjusted earnings of 37 cents per share, beating the Zacks Consensus Estimate of 31 cents by 19.35%. Earnings increased 32.1% from 28 cents in the year-ago quarter. KMI’s revenues increased 10.8% year over year to $4.48 billion from the prior year’s figure of $4.04 billion. Revenues surpassed the consensus estimate of $4.29 billion by 4.43%. Cash flow from operations was $1.96 billion in the quarter. Meanwhile, free cash flow was $978 million and free cash flow after dividends reached $313 million. As of June 30, 2026, KMI reported $89 million in cash and cash equivalents. Net debt stood at $32.03 billion at quarter-end. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TechnipFMC plc (FTI) : Free Stock Analysis Report Halliburton Company (HAL) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Core Laboratories Inc. CLB reported second-quarter 2026 adjusted earnings of 11 cents per share, which beat the Zacks Consensus Estimate of 8 cents, driven by outperformance of the Production Enhancement segment. However, the bottom line decreased from the year-ago quarter’s reported figure of 19 cents due to the underperformance of the Reservoir Description segment and increased costs and expenses. This oilfield service provider reported second-quarter operating revenues of $124.6 million, missing the Zacks Consensus Estimate of $128 million and decreasing from the earlier-year quarter’s reported figure of $130.1 million. This can be attributed to military conflicts in the Middle East and the Russia-Ukraine region, which disrupted energy infrastructure, delaying projects, disrupting crude oil trade and reducing demand for the company's international laboratory services. Core Laboratories Inc. price-consensus-eps-surprise-chart | Core Laboratories Inc. Quote During the second quarter, CLB repurchased 214,712shares of common stock for a total of $2.7 million. The company’s debt leverage ratio was at 1.30 and net debt decreased by $0.5 million. Reservoir Description: Revenues in this segment decreased 8.7% from the year-ago quarter to $78.7 million. Moreover, the top line missed our model estimation of $82 million. Operating income decreased from $12.2 million in the year-ago period to $3.7 million and missed our estimate of $6 million, caused by three primary factors: reduced client activity in the Middle East, lower global crude assay activity resulting from disruptions to hydrocarbon cargo shipments and increased military action and expanded European sanctions associated with the Russia-Ukraine conflict. Production Enhancement: This segment’s revenues increased 4.5% to $45.9 million from $43.9 million in the prior-year quarter. Moreover, the top line beat our model estimate of $45.6 million. Operating income increased from $3.1 million in the year-ago period to $5.2 million and beat our model estimate of $2 million. The outperformance in the Production Enhancement segment can be attributed to improvement in U.S. completion activity and increased product sales in both the U.S. and international markets. CLB reported total costs and expenses of $115.5 million in the second quarter, increasing by 0.5% from the year-ago quarter’s level of $114.9 million. Our estimation for the metric was $118.6 million. As of June 30, 2026, the company had cash and cash equivalents of $22.7 million and long-term debt of $113.9 million. CLB’s debt-to-capitalization was about 29%. Net cash provided by operating activities in the second quarter totaled $7.8 million, while capital expenditure amounted to $4.7 million. This led to a positive free cash flow of $3.1 million. Core Laboratories’ board of directors approved a quarterly dividend of 1 cent per share to its common shareholders of record as of Aug. 10, 2026. The payout, which remains unchanged from the previous quarter, will be made on Aug. 31. Ongoing conflicts in the Middle East and Russia-Ukraine prompted the IEA, EIA and OPEC to lower their 2026 global oil demand forecasts due to higher energy prices, supply disruptions and trade constraints. However, all three agencies expect demand growth to recover in 2027. Core Laboratories believes the long-term need for new production and enhanced recovery remains intact, supported by declining output from mature fields, energy security concerns and diversified hydrocarbon supply. The company expects third-quarter revenues to rise sequentially, aided by improving activity in the South Atlantic Margin and Asia-Pacific, despite continued geopolitical disruptions affecting project execution and logistics. Modest improvement in U.S. land completions, growing adoption of its reservoir technologies and diagnostics, and expanding international offshore and exploration projects are expected to support long-term growth. For the third quarter of 2026, CLB expects revenues to range from $128.5 million to $135.5 million. Operating income is anticipated to be between $10.5 million and $15 million, with earnings per share expected to be between 12 cents and 20 cents. Revenues for the Reservoir Description segment are anticipated to be between $81 million and $84 million, with operating income ranging from $5.5 million to $7.9 million. Revenues for the Production Enhancement segment are expected to be between $47.5 million and $51.5 million, with operating income predicted to be between $4.8 million and $6.9 million. The company anticipates an effective tax rate of 25% for the third quarter. Its guidance for the third quarter of 2026 is based on estimates for underlying operations and excludes any gains or losses from foreign exchange. During the second quarter of 2026, Core Laboratories expanded its technology-driven reservoir evaluation and completion capabilities through several high-value projects across Asia-Pacific, Africa and the Middle East. In Australia, the company deployed its Advanced Digital Imaging System (ADIS) to analyze reservoir rock samples for an onshore gas project, integrating the results into its proprietary RAPID™ database to accelerate reservoir interpretation. Offshore Namibia, CLB applied advanced laboratory technologies to characterize geological and petrophysical properties, supporting more accurate reservoir models and reducing exploration risk. The company also launched a reservoir characterization program for Murphy Oil's offshore Côte d’Ivoire discovery using its Dual Energy CT technology. In Asia-Pacific, Core Laboratories enabled a national oil company to establish in-house Tubing Conveyed Perforating capabilities through equipment supply and technical training. Additionally, regulatory approvals in the UAE for SpectraStim™ proppant tracing and SpectraScan® spectral gamma ray logging broadened the company's reservoir optimization offerings, strengthening its position in a key Middle Eastern energy market. Core Laboratoriescurrently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed CLB’s second-quarter results in detail, let us take a look at three other key reports in the Oil/Energy space. Expand Energy Corporation EXE reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses. Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion. As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Core Laboratories Inc. (CLB) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Expand Energy Corporation EXE reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses. Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion. Expand Energy Corporation price-consensus-eps-surprise-chart | Expand Energy Corporation Quote On July 27, Expand Energy announced the acquisition of Twin Eagle, creating North America’s leading integrated natural gas company. The company reported the average second-quarter daily production (comprising 92% natural gas) of 7,482 million cubic feet of gas equivalent (MMcfe/day), increasing 3.9% from the year-ago level of 7,202 MMcfe/day. The daily production levels surpassed the Zacks Consensus Estimate of 7,460 MMcfe/day. Natural gas volume for the period came in at 6,896 MMcfe/day, up 4.5% year over year. The consensus mark called for 6,898 MMcf/day of natural gas. EXE’s oil production was 14 thousand barrels per day (MBbl/d), while NGL output totaled 83 MBbl/d.The average sales price for natural gas during the second quarter was $2.42 per Mcf, down 17.4% from the prior-year realization of $2.93 per Mcf. It was also below the consensus mark of $2.64. The average realized oil price was $84.71 per barrel compared with the consensus mark of $80. Meanwhile, the average realized NGL price was $26.26 per barrel, above the Zacks Consensus Estimate of$25.79. Total operating expenses in the quarter were $2.3 billion, lower than the year-ago quarter’s $2.4 billion. This was mainly backed by a decrease in exploration, marketing and depreciation, depletion and amortization expenses. The company’s exploration, marketing and depreciation, depletion and amortization expenses of $16 million, $649 million and $722 million during the second quarter of 2026 decreased from the year-ago levels of $20 million, $791 million and $769 million, respectively. In the second quarter, the company plans to pay its quarterly base dividend of 57.5 cents per share on Sept. 3, 2026, to its shareholders of record on Aug. 13. Furthermore, Expand Energy expects to continue its returns-focused allocation of capital, including share repurchases, while preserving its balance sheet capacity. Year-to-date through July 24, 2026, Expand Energy has redeemed approximately $1.3 billion of gross debt and executed $849 million of share repurchases. Cash flow from operations totaled $1.1 billion, decreasing from the prior-year quarter levels of $1.3 billion, while Expand Energy’s capital expenditure totaled $753 million, leading to a free cash flow of $343 million. It also paid out $138 million in dividends during the period.As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%. Expand Energy is targeting an average daily production in the range of 7,400-7,500 MMcfe for the third quarter of 2026 and 7,400-7,600 MMcfe for full-year 2026. The company has budgeted its capital spending between $700 million and $780 million for the upcoming quarter, while for 2026, the figure is projected to be between $2.75 billion and $2.95 billion. Expand Energy currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed EXE’s second-quarter results in detail, let us take a look at three other reports in this space. Halliburton Company HAL reported second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. The outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level. Meanwhile, HAL’s second-quarter revenues of $5.7 billion were up 3.7% year over year and beat the Zacks Consensus Estimate of $5.5 billion. The outperformance was driven by higher revenues in both segments of the company — the Completion and Production segment and the Drilling and Evaluation segment. Halliburton reported second-quarter capital expenditure of $235 million. As of June 30, 2026, the company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Houston, TX-based oil and gas storage and transportation company Kinder Morgan Inc. KMI reported second-quarter 2026 adjusted earnings of 37 cents per share, beating the Zacks Consensus Estimate of 31 cents by 19.35%. Earnings increased 32.1% from 28 cents in the year-ago quarter. KMI’s Revenues increased 10.8% year over year to $4.48 billion from the prior year’s figure of $4.04 billion. Revenues surpassed the consensus estimate of $4.29 billion by 4.43%. Cash flow from operations was $1.96 billion in the quarter. Meanwhile, free cash flow was $978 million and free cash flow after dividends reached $313 million. As of June 30, 2026, KMI reported $89 million in cash and cash equivalents. Net debt stood at $32.03 billion at quarter-end. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Expand Energy Corporation (EXE) : Free Stock Analysis Report Halliburton Company (HAL) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. NOV Inc. price-consensus-eps-surprise-chart | NOV Inc. Quote In the second quarter, NOV repurchased approximately 3.2 million shares of common stock for a total of $63 million. The company also returned $64 million in dividends, resulting in a total of $127 million in capital to its shareholders during the quarter. Energy Products and Services: The unit reported second-quarter revenues of $974 million, which beat our estimate of $951 million, driven by market share gains by the segment’s drill bit and artificial lift operations and continued growth in digital services. However, the figure decreased from the prior-year quarter’s reported number by 5% due to lower capital equipment sales. Adjusted EBITDA of $144 million beat our estimate of $110 million but decreased from $146 million in the corresponding period of 2025. Energy Equipment: Revenues in this segment increased marginally by 1% year over year to $1.22 billion, beating our estimate by 2.7%. Adjusted EBITDA of $200 million increased from the year-earlier quarter’s $158 million and beat our estimate of $145 million. Strong execution on offshore production projects, which are nearing completion, and a more favorable sales mix drove the improvement in the company’s revenues and profitability. In the second quarter of 2026, the segment registered $474 million in new orders. Shipments from the backlog amounted to $638 million, resulting in a book-to-bill ratio of 74. As of June 30, 2026, the backlog for Energy Equipment capital orders was $4.1 billion, reflecting a $220 million decrease from the prior year. As of June 30, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%. NOV had $1.5 billion available on its primary revolving credit facility during the same time. This Zacks Rank #1 (Strong Buy) company generated an operating cash flow of $17 million and a negative free cash flow of $64 million in this quarter. You can see the complete list of today’s Zacks #1 Rank stocks here. NOV’s broad operational and technology achievements underscore its strong position in offshore energy, drilling automation and digital solutions. The company secured multiple contracts for production processing equipment, seawater treatment systems, FPSO topside modules and subsea structures across key offshore markets, including West Africa, Indonesia, Suriname, Brazil and Southeast Asia, reinforcing its leadership in offshore infrastructure. NOV also expanded adoption of its proprietary technologies, such as Bondstrand fiberglass piping, Delta drill pipe connections, Zap-Lok pipeline systems and XLC-S connectors, reflecting strong customer demand for safer, more efficient and high-performance solutions. The company advanced its digital transformation strategy by deploying AI-enabled equipment diagnostics, remote rig monitoring and real-time data acquisition through its Max Platform while strengthening its capabilities with the acquisitions of Rigsmart and Cranesmart. In addition, growing orders for ATOM RTX robotics, NOVOS automation systems and Downhole Broadband Solutions demonstrate increasing industry demand for automation, real-time drilling intelligence and productivity-enhancing technologies that improve operational efficiency, safety and drilling performance across global energy markets. For the third quarter of 2026, NOV expects year-over-year consolidated revenues to increase by up to 2%, with adjusted EBITDA expected to be between $240 million and $270 million. NOV expects third-quarter 2026 performance to improve sequentially, assuming operating conditions in the Middle East remain broadly consistent with those seen in the second quarter. Management forecasts both sequential and year-over-year revenue growth, supported by stronger activity across key markets, healthy free cash flow generation in the second half of the year and continued benefits from operational efficiency initiatives. The Energy Equipment segment is expected to post revenues that are 1-3% lower year over year, with EBITDA in the range of $160-$190 million, as growth in drilling capital equipment and aftermarket services is partly offset by the completion of several large projects. Meanwhile, the Energy Products and Services segment is projected to deliver stronger performance, with revenues rising 5-7% year over year and EBITDA of $130-$150 million, driven by seasonal Eastern Hemisphere demand, improved backlog conversion in drill pipe and composite solutions, and market share gains from differentiated technologies. The guidance excludes any additional IEEPA tariff refunds and reflects management's expectation of continued operational discipline, margin improvement and stronger cash generation in the second half of 2026. While we have discussed NOV’s second-quarter results in detail, let us take a look at three other key reports in this space. Baker Hughes Company BKR reported second-quarter 2026 adjusted earnings of 64 cents per share, up 2% year over year. The figure beat the Zacks Consensus Estimate of 51 cents by 25.5%. Revenues of $6.74 billion surpassed the consensus mark of $6.49 billion by 3.9%. However, the figure declined 2% from the year-ago quarter. Better-than-expected quarterly results reflected strong OFSE execution, firm IET profitability and record order momentum. BKR ended June with cash and cash equivalents of $15.73 billion. Long-term debt stood at $15.48 billion at the end of the second quarter. Halliburton Company HAL reported second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. The outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level. Meanwhile, the company’s second-quarter revenues of $5.7 billion were up 3.7% year over year and beat the Zacks Consensus Estimate of $5.5 billion. The outperformance was driven by higher revenues in both segments of the company — the Completion and Production segment and the Drilling and Evaluation segment. Halliburton reported second-quarter capital expenditure of $235 million. As of June 30, 2026, the company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NOV Inc. (NOV) : Free Stock Analysis Report Halliburton Company (HAL) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Ovintiv Inc. OVV reported second-quarter 2026 adjusted earnings per share of $1.74, which missed the Zacks Consensus Estimate of $1.91 due to decreased year-over-year production volumes, increased expenses and lower average realized natural gas prices. However, the bottom line increased from the year-ago level of $1.02, driven by higher natural gas volumes and higher average realized oil prices. The Denver, CO-based oil and gas exploration and production company’s total revenues of $3 billion increased 30% from the year-ago quarter’s figures. The top line also beat the Zacks Consensus Estimate by 28.2%. The outperformance was driven by higher product and service revenues. Ovintiv Inc. price-consensus-eps-surprise-chart | Ovintiv Inc. Quote On July 23, 2026, Ovintiv's board of directors declared a quarterly dividend of 30 cents per share, which will be paid on Sept. 29 to its shareholders of record as of Sept. 15. First-quarter shareholder returns totaled $429 million, consisting of share buybacks of $345 million and base dividend payments of $84 million. During the quarter, the company closed the sale of its Anadarko assets for total cash proceeds of about $2.82 billion after preliminary closing adjustments and transaction costs. Total second-quarter production was 614,600 barrels of oil equivalent per day (BOE/d) compared with 615,300 BOE/d in the prior-year period. The figure marginally missed our prediction of 615,000 BOE/d. Natural gas production increased to 1,959 million cubic feet per day (MMcf/d) in the second quarter of 2026 from 1,851 MMcf/d in the prior-year quarter. However, the figure lagged our estimate of 2,001 MMcf/d. Total liquids production decreased to 288.2 thousand barrels per day (Mbbls/d) in the second quarter of 2026 from 306.7 Mbbls/d in the prior-year quarter. However, the figure beat our prediction of 283 Mbbls/d. In the second quarter of 2026, natural gas contributed approximately 53.1%, and liquids accounted for about 46.9% of the total production. Ovintiv's realized natural gas price was $1.99 per thousand cubic feet compared with the year-ago level of $2.38. However, the realized oil price increased substantially to $91.53 per barrel from $65.23 in the prior-year quarter. Total expenses of $2 billion increased 11.7% from the year-ago quarter’s figure of $1.8 billion. Moreover, the figure was higher than our projection of $1.6 billion. Ovintiv’s cash from operating activities in the quarter under review was $1.6 billion, compared to the year-ago figure of $1 billion. OVV's capital investments were $574 million compared with $521 million in the year-ago period. The company generated a non-GAAP free cash flow of $682 million in the reported quarter. As of June 30, OVV had cash and cash equivalents worth $700 million and long-term debt of $3.7 billion. Its debt-to-capitalization was 24.3%. In the second quarter of 2026, average production from the Permian Basin reached approximately 231 MBOE/d, with liquids making up 78% of the total. A total of 38 net wells were brought online during the period. For the full year 2026, capital spending in this region is projected to be between $1.325 billion and $1.375 billion, supporting the development of around five rigs and 125-135 net wells. From the Montney play, second-quarter output averaged 374 MBOE/d, with liquids contributing about 27% of the volume. The company turned in 40 net wells during the quarter. Full-year 2026 capital expenditures for Montney are expected to be between $875 million and $925 million, supporting the development of six rigs and 130-140 net well additions. Ovintiv revised its full-year 2026 guidance while issuing third-quarter projections. The company expects full-year production volumes to average between 630 and 645 MBOE/d, including oil and condensate production of 210 to 212 Mbbls/d, NGL production of 83 to 85 Mbbls/d and natural gas production of 2 to 2.1 Bcf/d. Ovintiv’s 2026 capital investment remains unchanged in the range of $2.25 billion to $2.35 billion, reflecting its continued focus on disciplined capital allocation and operational efficiency. For the third quarter of 2026, this Zacks Rank #3 (Hold) company expects production between 615 and 640 MBOE/d with capital spending of $550 million to $600 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed OVV’s second-quarter results in detail, let us take a look at three other key reports in this space. Halliburton Company HAL reported second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. The outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level. Meanwhile, the company’s second-quarter revenues of $5.7 billion were up 3.7% year over year and beat the Zacks Consensus Estimate of $5.5 billion. The outperformance was driven by higher revenues in both segments of the company — the Completion and Production segment and the Drilling and Evaluation segment. Halliburton reported second-quarter capital expenditure of $235 million. As of June 30, 2026, the company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Houston, TX-based oil and gas storage and transportation company Kinder Morgan Inc. KMI reported second-quarter 2026 adjusted earnings of 37 cents per share, beating the Zacks Consensus Estimate of 31 cents by 19.35%. Earnings increased 32.1% from 28 cents in the year-ago quarter. Revenues increased 10.8% year over year to $4.48 billion from the prior year’s figure of $4.04 billion. Revenues surpassed the consensus estimate of $4.29 billion by 4.43%. Cash flow from operations was $1.96 billion in the quarter. Meanwhile, free cash flow was $978 million and free cash flow after dividends reached $313 million. As of June 30, 2026, KMI reported $89 million in cash and cash equivalents. Net debt stood at $32.03 billion at quarter-end. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ovintiv Inc. (OVV) : Free Stock Analysis Report Halliburton Company (HAL) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Liberty Energy Inc.’s LBRT shares fell 20.4% over the past six months, sharply in contrast to its sector’s gain of 15.5% and its sub-industry’s rise of 8%. Liberty Energy has become a more complicated investment case after its sharp pullback. However, the second-quarter beat, a sales-based discount and the long-term power opportunity offer support. Image Source: Zacks Investment Research The counterweight is clear. Margins remain pressured, free cash flow faces a heavier capital burden and forecast losses in 2026 and 2027 make the stock less than a simple value call. Liberty Energy reported second-quarter 2026 revenues of $1.2 billion, up 14% year over year from $1 billion. The result also topped the Zacks Consensus Estimate of $1.1 billion, helped by record utilization, modest pricing improvement and higher product sales. Adjusted earnings came in at 9 cents per share, ahead of the Zacks Consensus Estimate of 7 cents. Operational execution improved, but the quarter was not clean enough to remove concerns about the durability of the earnings recovery. Adjusted EBITDA fell 16% year over year to $151 million from $181 million, even as revenues increased. That gap between top-line growth and profit performance shows that the company is still absorbing cost pressure. Total costs and expenses rose 17% year over year to $1.2 billion. Continued weak margins in sand and chemicals, along with higher service costs, suggest that better activity has not yet translated into a full margin rebound. LBRT’s valuation looks more balanced than outright cheap. The stock trades at a trailing EV-to-EBITDA multiple of 8.41 times, below the subindustry’s 8.88 times but above its own five-year median of 3.66 times. Image Source: Zacks Investment Research The $20 price target, based on 0.71 times forward sales, stands above the cited $17.36 share price. That leaves some implied upside, but the premium to Liberty’s longer-term EBITDA history limits the margin of safety. Liberty Energy raised its 2026 capital expenditure outlook to about $1.5 billion, driven largely by power-generation deposits and equipment commitments. The spending supports the company’s long-term power roadmap but brings near-term funding pressure. Higher capital intensity can weigh on free cash flow before meaningful earnings arrive. It also raises the importance of successful project financing, supply-chain execution and disciplined capital allocation. The power opportunity remains the main valuation catalyst. Liberty Energy has built a gigawatt-level project pipeline and announced partnerships tied to powered data center campuses and integrated energy solutions. Binding customer agreements are the key test. Many projects remain in development, leases tied to the PowerBridge campus have not been finalized and meaningful power-generation revenues are not expected until 2028. Halliburton Company HAL and SLB SLB provide useful context for investors assessing LBRT. Both are large energy services competitors, while SLB is also partnering with Liberty Energy on modular infrastructure and integrated power generation solutions for global data center projects. The bottom line is that LBRT offers a credible long-term growth angle, but the investment case still requires patience. The earnings beat, sales-based valuation support and power optionality are offset by margin pressure, higher capital spending and execution risk. LBRT currently carries a Zacks Rank #3 (Hold). Its VGM Score of B, Value Score of B and Momentum Score of A support investor interest, as higher Style Scores generally signal more favorable characteristics within their respective styles. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The Growth Score of D is the offset. The Zacks Consensus Estimate calls for losses of 21 cents per share in 2026 and 28 cents in 2027, making selective positioning more appropriate than aggressive buying after the pullback. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report SLB Limited (SLB) : Free Stock Analysis Report Halliburton Company (HAL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. Liberty Energy Inc. price-consensus-eps-surprise-chart | Liberty Energy Inc. Quote Liberty Energy’s adjusted EBITDA was $151 million, representing a 16% decrease from the year-ago quarter’s $181 million. However, the figure beat our model estimate of $120.1 million. Ahead of the earnings release, Liberty Energy’s board of directors approved a cash dividend of 9 cents per share on Class A common stock. The dividend will be payable on Sept. 18, 2026, to its shareholders on record as of Sept. 4. The company distributed $15 million in cash dividends to its shareholders this quarter. Liberty Energy reported total costs and expenses of $1.2 billion in the second quarter, increasing 17% from the year-ago quarter’s level. Moreover, our estimate for the metric was pegged at $1 billion. During this quarter, Liberty Energy continued to strengthen its long-term growth strategy through several strategic initiatives. The company formed a strategic alliance with SLB to deliver modular infrastructure and integrated power generation solutions for global data center projects while advancing related technologies. It also launched Liberty Wholesale Commodities (LWC), expanding its ChorusSM platform through direct participation in ERCOT power markets. To support its power generation roadmap through 2030, Liberty Energy secured additional long-term equipment purchase agreements with leading OEMs. The company is also deploying its first digiPrimeSM fleet in Canada for a cross-border customer and has begun commercial operations of its proprietary SLXRRYTM last-mile sand slurry delivery system, which lowers delivered sand costs while reducing truck traffic, road wear, dust and emissions. Liberty Energy announced a joint venture with PowerBridge to develop powered data center campuses, initially supporting a planned 2-GW facility in West Texas. The partnership will combine PowerBridge’s digital campus infrastructure with Liberty Power Innovations’ modular power generation and energy management capabilities to accelerate deployment for hyperscale and AI customers. Balance Sheet & Capital Expenditure of LBRT As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Further, the company’s total liquidity, including availability under the credit facility, amounted to $1 billion. In the reported quarter, this Zacks Rank #3 (Hold) company spent $221.5 million on its capital program, down from our estimate of $296 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. LBRT’s management highlighted the company’s continued progress in strengthening its integrated power platform while reinforcing its leadership in completion services. The company emphasized that its LPI platform combines advanced power system architecture with energy market optimization, enabling flexible integration of power generation equipment from multiple global manufacturers. During the quarter, LBRT expanded its supply chain by securing additional equipment purchase agreements with Bergen Engines, Wärtsilä and other leading suppliers, enhancing its ability to optimize power generation across diverse operating environments. The formation of Liberty Wholesale Commodities (LWC) further extends the company’s Chorus offering by enabling direct participation in ERCOT power markets while integrating on-site generation with both ERCOT and PJM markets for large-load customers. Management believes these initiatives strengthen the company’s ability to deliver resilient, integrated energy solutions while creating a differentiated competitive advantage. The company also reiterated its commitment to disciplined capital allocation, operational excellence and long-term investments that enhance shareholder value. Looking ahead, management remains constructive on the long-term outlook for North American energy despite near-term geopolitical and macroeconomic uncertainties. The company expects heightened concerns surrounding global energy security and supply diversification to increase demand for North American oil, natural gas and refined products, supported by expanding LNG demand, storage infrastructure investments and replenishment of strategic reserves. While oil markets experienced considerable volatility during the quarter due to Middle East conflicts and supply chain disruptions, management believes these events reinforce the strategic importance of reliable North American energy supplies. In the oilfield services business, modest improvements in frac activity and pricing, combined with sustained demand for next-generation technologies, are expected to support market recovery, although producer spending is likely to remain measured amid commodity price volatility. At the same time, accelerating investments in AI-driven data centers and industrial power infrastructure continue to create significant opportunities for the company’s integrated power business. Management noted that customers increasingly seek partners capable of delivering end-to-end power solutions encompassing infrastructure development, energy management and long-term operational support. Entering the third quarter, LBRT remains encouraged by recent business momentum and is focused on executing growth opportunities across the evolving energy ecosystem while prudently navigating an uncertain global environment. While we have discussed LBRT’s second-quarter results in detail, let us take a look at three other key reports in this space. Halliburton Company HAL reported second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. The outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level. Meanwhile, the company’s second-quarter revenues of $5.7 billion were up 3.7% year over year and beat the Zacks Consensus Estimate of $5.5 billion. The outperformance was driven by higher revenues in both segments of the company — the Completion and Production segment and the Drilling and Evaluation segment. Halliburton reported second-quarter capital expenditure of $235 million. As of June 30, 2026, the company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%. Houston, TX-based oil and gas storage and transportation company Kinder Morgan Inc. KMI reported second-quarter 2026 adjusted earnings of 37 cents per share, beating the Zacks Consensus Estimate of 31 cents by 19.35%. Earnings increased 32.1% from 28 cents in the year-ago quarter. Revenues increased 10.8% year over year to $4.48 billion from the prior year’s figure of $4.04 billion. Revenues surpassed the consensus estimate of $4.29 billion by 4.43%. Cash flow from operations was $1.96 billion in the quarter. Meanwhile, free cash flow was $978 million and free cash flow after dividends reached $313 million. As of June 30, 2026, KMI reported $89 million in cash and cash equivalents. Net debt stood at $32.03 billion at quarter-end. Fort Worth, TX-based oil and gas exploration and production company Range Resources Corporation RRC reported second-quarter 2026 adjusted earnings of 79 cents per share, up 19.7% from 66 cents a year ago. The figure topped the Zacks Consensus Estimate of 56 cents by 41.1%. Quarterly revenues of $795.3 million increased 8.5% from the $732.9 million reported a year ago. The figure topped the consensus estimate of $720 million by 10.5%. Strong quarterly results are driven by higher production and improved price realization. RRC’s net debt was $880.8 million at June 30, 2026, down 28% from $1.22 billion at year-end 2025. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report Halliburton Company (HAL) : Free Stock Analysis Report Range Resources Corporation (RRC) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Liberty Energy Inc.? Here are five stocks we like better. Liberty Energy posted a stronger second quarter, with revenue of $1.2 billion and adjusted EBITDA of $151 million. Results improved sequentially as utilization hit record levels, pricing in the frac market firmed modestly, and net income rose to $43 million. The company is expanding beyond oilfield services into power generation, especially for data centers and other large-load customers. Liberty highlighted its new joint venture with PowerBridge and said it is targeting a 3-gigawatt power plan with long-term returns of 17% to 18%. Capital spending is rising to support that power strategy, with 2026 capex now expected to reach about $1.5 billion. Management said the higher spending is mainly for long-lead power generation equipment, though it expects project financing to be largely non-recourse to the parent company. AI’s Power Crunch Fuels a Pivot for These 2 Oilfield Stocks Liberty Energy (NYSE:LBRT) reported stronger second-quarter 2026 results as utilization improved from early-year lows, while management outlined expanding ambitions in power generation for data centers and other large-load customers. Chief Executive Officer Ron Gusek said the quarter reflected “strong operational execution” amid commodity price volatility and geopolitical uncertainty. The company reported revenue of $1.2 billion and adjusted EBITDA of $151 million, with Gusek pointing to strategic investments and AI-driven technology advancements as the industry “modestly strengthened” from cyclical lows earlier in the year. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? The Energy Trade Is Bigger Than Oil Prices: 3 Stocks to Buy and 2 to Sell Chief Financial Officer Michael Stock said second-quarter revenue increased 16% sequentially from $1 billion in the first quarter, driven by record utilization, modest pricing improvement and higher product sales. Net income rose to $43 million from $23 million in the prior quarter. Adjusted net income was $14 million, compared with $10 million in the first quarter, excluding $29 million of tax-affected gains on investments, partially offset by transaction and other costs. Fully diluted net income per share was $0.26, up from $0.14 in the prior quarter. Adjusted net income per diluted share was $0.09, compared with $0.06 in the first quarter. → 3 Photonics Companies Making Quantum Tech Possible Here's What Separates Oklo From the Rest of the Nuclear Startups Stock said Liberty’s teams achieved record operational performance during the quarter, including new highs for pump hours, horsepower hours and pumping activity. He said customers increasingly relied on Liberty’s ability to source, move and deliver products at scale. Gusek said North American frac markets improved modestly as producer activity gradually increased, providing more transparency into available frac fleet capacity after years of attrition and equipment cannibalization. He said improved conditions are supporting a modest recovery in service prices from lows earlier in the year. → AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off However, management remained cautious about the second half of 2026. Gusek said large U.S. and Canadian producers remain careful about raising activity levels because of continued price volatility and broader macroeconomic uncertainty. In response to analyst questions, he said third-quarter utilization appeared strong, with “very modest white space” in the calendar, but he declined to be too firm about pricing or fourth-quarter activity given uncertainty in oil prices. Gusek said pricing conversations are moving in a positive direction, especially for next-generation equipment, but product-side margins remain challenged. He noted that sand and chemical markets have not meaningfully recovered, even as Liberty moves higher volumes through simulfrac operations. Liberty said its digiPrime platform reached a milestone with an upcoming fleet deployment in Canada for a cross-border customer. Gusek said the Canadian deployment reflects the company’s ability to scale technology across North America and reinforces the value of innovation in customer relationships. During the question-and-answer session, Gusek said the Canadian digiPrime fleet will be new capacity being built for delivery in the second half of the year, but it will replace older Tier 2 equipment rather than add net capacity in Canada. He said the Western Canadian Sedimentary Basin outlook has improved following recent industry developments, including pipeline-related announcements and investment activity. The company also began commercial operations for Slurry, its proprietary last-mile sand system. Gusek said the system replaces large numbers of truck trips by transporting slurried sand through pipe. At a current Rockies basin deployment, Liberty said nearly eight miles of Slurry pipe are replacing up to 200 truckloads of sand per day over 24 miles of county and lease roads. The project is expected to transport about 1.5 billion pounds of slurried sand while eliminating nearly 30,000 truck trips over seven months. Gusek also highlighted AI and digital tools, including Forge, a distributed agentic system for fuel optimization. He said the system is identifying additional opportunities to improve fleet design, asset utilization and operating performance beyond its original fuel-consumption objectives. A major portion of the call focused on Liberty’s power platform, including its recently announced joint venture with PowerBridge, a Five Point Infrastructure portfolio company. Gusek said the venture combines PowerBridge’s powered campus development platform with Liberty Power Innovations’ generation, energy management and operating capabilities. The joint venture’s current scope is focused on PowerBridge’s Alpha Digital Campus, a planned 2-gigawatt powered campus in West Texas. The initial phase is expected to include more than 300 megawatts of generation capacity, with first power anticipated in the fourth quarter of 2027 and development continuing through the first half of 2028. Gusek said discussions with prospective data center tenants on future power offtake opportunities are underway. Stock said Liberty expects the initial generation to begin behind the meter and that many campuses will eventually integrate with the grid. He said the company sees increasing project scale and complexity, with more campuses targeting gigawatt-plus ultimate build-outs in staged phases. Management also discussed Liberty’s strategic alliance with SLB. Gusek said the alliance brings together Liberty’s integrated power solutions with SLB’s modular infrastructure capabilities and global market presence, offering customers a more unified interface for power and electrical infrastructure inside and outside data centers. Liberty ended the quarter with $559 million in cash, net debt of $736 million and total liquidity of about $1 billion, including credit facility availability. Net debt increased by $157 million from the prior quarter. Second-quarter net capital expenditures and long-term deposits totaled $221 million, including $71 million in power generation deposits. Stock said Liberty now expects approximately $1.5 billion in capital expenditures in 2026, primarily reflecting higher deposit payments to secure long-lead-time power generation equipment. Stock said the company has secured, or expects to secure in the near term, enough power generation capacity to support its 3-gigawatt plan through the end of 2029, with some deliveries extending into late 2029 and early 2030. He estimated that building 3 gigawatts would require roughly $5 billion to $6 billion in capital expenditures, including inflation assumptions and related components such as battery energy storage systems. Gusek said Liberty continues to target a five- to six-year cash-on-cash payback and a 17% to 18% unlevered rate of return for power investments. Stock said project financing is expected to be done through special purpose vehicles that are non-recourse to the corporate balance sheet, with cash recycled back to fund additional deposits. Gusek said geopolitical disruptions in the Middle East have renewed focus on energy security and supply diversification, reinforcing the importance of North American oil and natural gas. He said international buyers are pursuing longer-term agreements for U.S. petroleum products and LNG, while planned storage expansions in Southeast Asia and Australia could support incremental demand over time. On natural gas, Gusek said activity in gas basins remains strong and customers appear to be taking a long-term view despite near-term price volatility. He cited expected growth in power generation demand in North America and global LNG demand as supportive factors. Gusek closed the call by marking Liberty’s 15th anniversary, noting the company’s growth from one fleet operating out of a tent in Williston, North Dakota, to operations across 10 basins, including Canada and Australia. Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services, including complementary services, such as wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics. As of as of December 31, 2023, the company owned and operated a fleet of approximately 40 active hydraulic fracturing; and two sand mines in the Permian Basin. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Liberty Energy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.