Liberty Energy CEO Slams Tariff Policies as Stock Surges 28.3%
Liberty Energy's CEO Ron Gusek has slammed 'punitive tariff policies' during the company's earnings call. Despite missing Q3 estimates, Liberty Energy's stock surged by 28.3% on Friday.
Gusek, who took over from an unnamed successor in 2021, argued that tariffs on steel and other oilfield staples are hindering the U.S.'s ambition to lead the artificial intelligence sector. He believes these policies are unfair and impede progress.
Looking ahead, Liberty Energy is planning significant expansions. By the end of FY 2026, the company aims to add 500 MW of power generation capacity. This growth is set to continue, with the company targeting over 1 GW by the end of 2027.
Despite the criticism of tariff policies, Liberty Energy's stock closed positively on Friday, up by 28.3%. The company's ambitious expansion plans suggest a confident outlook, with significant increases in power generation capacity on the horizon.
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