Jul. 23 at 8:10 PM
Liberty Oilfield Services shares fell sharply after the company significantly raised its 2026 capital expenditure forecast to about
$1.5 billion and outlined plans to invest
$5-
$6 billion through 2029 to build roughly 3 gigawatts of power-generation capacity. Investors were concerned about the impact on near-term cash flow, especially as management said its energy segment is not expected to contribute materially to earnings until 2028.
The company also reported net debt rising to
$736 million and announced a joint venture with PowerBridge LLC to develop a 2-gigawatt data-center campus in West Texas, with first power delivery targeted for late 2027. While Liberty’s core completions business delivered solid Q2 results, including
$1.2 billion in revenue and
$151 million in adjusted EBITDA, investors focused on the longer timeline and higher spending required for its energy expansion strategy.
$LBRT