Liberty Energy slides after unveiling data center power JV

Liberty Energy

23/07/2026 19:55

** Shares of oilfield services provider Liberty Energy LBRT.N down ~18% at $20.78
** Company announces joint venture with PowerBridge to support planned gigawatt-scale data center campuses, including an initial deployment of over 300 MW targeted for late 2027
** Brokerage Capital Markets cites concerns over the absence of firm end-customer commitments for the power JV 
** Company's rising capex estimates for the 3GW buildout and uncertainty in the frac (hydraulic fracturing) business outlook, brokerage says
** Sees liquidity risk as financing depends on contracts and execution risk around the power opportunity
** Company posts second-quarter adjusted EPS of 9 cents, compared with analysts' estimate of 4 cents - data compiled by LSEG
** Including session's move, shares up 12% YTD

 (Reporting by Varun Sahay in Bengaluru)
 ((Varun.sahay@thomsonreuters.com))