Liberty Energy Inc. (NYSE:LBRT) Q2 2022 Earnings Conference Call July 26, 2022 10:00 AM ET

Company Participants

Anjali Voria - Strategic Finance and Investor Relations Lead

Chris Wright - Chief Executive Officer

Ron Gusek - President

Michael Stock - Chief Financial Officer

Conference Call Participants

Chase Mulvehill - Bank of America

Stephen Gengaro - Stifel

Arun Jayaram - JPMorgan Chase & Co.

Neil Mehta - Goldman Sachs

John Daniel - Daniel Energy Partners

Roger Read - Wells Fargo

Scott Gruber - Citigroup

Connor Lynagh - Morgan Stanley

Derek Podhaizer - Barclays

Keith Mackey - RBC Capital Markets

Waqar Syed - AltaCorp Capital

Marc Bianchi - Cowen

Operator

Welcome to the Liberty Energy Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. Please note this event is being recorded.

I would now like to turn the conference over to Anjali Voria, Strategic Finance and Investor Relations Lead. Please go ahead.

Anjali Voria

Thank you, Dave. Good morning. And welcome to the Liberty Energy Second Quarter 2022 Earnings Conference Call. Joining us on the call are Chris Wright, Chief Executive Officer; Ron Gusek, President; and Michael Stock, Chief Financial Officer.

Before we begin, I would like to remind all participants that some of our comments today may include forward-looking statements, reflecting the company’s view about future prospects revenues, expenses or profits.

These matters involve risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. These statements reflect the company’s beliefs based on current conditions that are subject to certain risks and uncertainties that are detailed in our earnings release and other public filings.

Our comments today also include non-GAAP financial and operational measures. These non-GAAP measures including EBITDA, adjusted EBITDA and pre-tax return on capital employed are not a substitute for GAAP measures and they not be comparable to similar measures of other companies.

A reconciliation of net income to EBITDA and adjusted EBITDA and the calculation of pre-tax return on capital employed as discussed on this call are presented on our earnings release, which is available on our website.

I will turn the call over to Chris.

Chris Wright

Thanks Anjali. Good morning, everyone, and thank you for joining us. I am proud to discuss our second quarter 2022 operational and financial results. The second quarter was a busy and exciting time as the Liberty team continued to deliver differential quality services in today’s robust, but operationally challenged environment.