Energy
Fracker Liberty’s Profit Falls to 3-Year Low as Oil Slumps
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Shale fracker Liberty Energy Inc. posted its worst earnings in three years amid plunging oil prices and mounting concerns about energy demand.
Adjusted first-quarter profit fell to 4 cents a share, according to a statement Wednesday, matching the average estimate among analysts. Sales and capital spending both came in better than expected, prompting the shares to rise more than 9% before the start of regular trading in New York on Thursday.