Hydraulic fracturing services company Liberty Energy (NYSE: LBRT) will be announcing earnings results this Wednesday after market hours. Here’s what to look for.

Liberty Energy beat analysts’ revenue expectations last quarter, reporting revenues of $1.04 billion, up 10.1% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Is Liberty Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Liberty Energy’s revenue to decline 2.1% year on year, improving from the 8.9% decrease it recorded in the same quarter last year.

Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Liberty Energy has missed Wall Street’s revenue estimates multiple times over the last two years.

With Liberty Energy being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for upstream & integrated stocks. However, the whole sector has faced a sell-off over the last month with stocks in Liberty Energy’s peer group down 3.6% on average. Liberty Energy is down 9.6% during the same time .

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