Shares of Liberty Oilfield Services Inc. (LBRT) tumbled 8.79% in after-hours trading on Thursday, following the release of the company's third-quarter financial results that fell short of analysts' expectations. The significant drop highlights investors' disappointment with the company's performance in a challenging market environment.

Liberty Energy reported Q3 adjusted EBITDA of $127.679 million, which fell considerably below the IBES estimate of $145.5 million. Adding to the disappointment, the company's Q3 revenue came in at $947.397 million, also missing the IBES estimate of $975.2 million. These misses on both the top and bottom lines appear to be the primary catalysts for the stock's sharp decline.

Despite the earnings setback, Liberty Energy announced some positive news, increasing its quarterly cash dividend by 13% to $0.09 per share beginning in the fourth quarter of 2025. However, this dividend hike was not enough to offset investor concerns about the company's overall financial performance. The after-hours plunge suggests that market participants are reassessing their outlook on Liberty Oilfield Services in light of these mixed signals, with the earnings miss overshadowing the dividend increase.