Championx Corporation - CHX STOCK NEWS

ChampionX (Nasdaq: CHX) has announced a regular quarterly dividend declaration. The company's Board of Directors approved a dividend of $0.095 per share on common stock, with a par value of $0.01 per share. The dividend will be paid on April 25, 2025, to shareholders who are recorded as of April 4, 2025.

ChampionX (NASDAQ: CHX) announced a significant legal victory for its subsidiary US Synthetic Corp. in a patent case. The U.S. Court of Appeals for the Federal Circuit (CAFC) reversed a previous International Trade Commission (ITC) determination regarding US Patent No. 10508502, which covers polycrystalline diamond compact (PDC) technology used in rotary drill bits.

The ITC had initially ruled that the patent claims were directed to an abstract idea, suggesting the magnetic properties were merely side effects. However, the Federal Circuit disagreed, confirming that the claims described a specific composition of matter with magnetic properties that provide meaningful insights into the PDC's physical characteristics.

ChampionX (NASDAQ: CHX) reported strong Q4 2024 results with revenue of $912.0 million and net income of $82.8 million. The company achieved its highest adjusted EBITDA margin as ChampionX at 23.3%, generating $212.3 million in adjusted EBITDA.

For full-year 2024, ChampionX delivered revenue of $3.6 billion, net income of $320.3 million, and adjusted EBITDA of $784.7 million. The company demonstrated robust cash flow generation with $589.7 million from operating activities and $460.5 million in free cash flow.

Notably, SLB (NYSE: SLB) has agreed to acquire ChampionX in an all-stock transaction, which received stockholder approval on June 18, 2024. The deal awaits regulatory approvals and other closing conditions.

The company's Production Chemical Technologies segment showed strength with Q4 revenue of $569.7 million, while Production & Automation Technologies generated $269.6 million despite seasonal declines. North America revenue grew 3% year-over-year, particularly in the Permian basin.

ChampionX (Nasdaq: CHX) has announced a regular quarterly dividend of $0.095 per share on its common stock. The dividend will be paid on January 31, 2025 to shareholders of record as of January 3, 2025. The dividend applies to the company's common stock with a par value of $0.01 per share.

ChampionX (NASDAQ: CHX) has been awarded the prestigious Golden Peacock Global Award for Sustainability by the Institute of Directors (IOD) in India. The award recognizes ChampionX's excellence in sustainable practices across its operational sectors. President and CEO Sivasankaran 'Soma' Somasundaram acknowledged this honor as a reflection of the company's dedication to excellence, innovation, and their purpose of Improving Lives.

The Golden Peacock Awards, established in 1991, are globally recognized for corporate excellence, featuring a rigorous three-tier evaluation system. The awards receive over 1,000 applications annually across 15 corporate functional verticals, with winners selected through an impartial process conducted by independent assessors.

ChampionX (NASDAQ: CHX) reported Q3 2024 results with revenue of $906.5 million, representing a 4% year-over-year decrease. The company achieved net income of $72.0 million and adjusted EBITDA of $197.5 million, with an adjusted EBITDA margin of 21.8%. Cash from operating activities was $141.3 million, generating free cash flow of $108.1 million. The company's pending acquisition by SLB is anticipated to close in Q1 2025. Production Chemical Technologies revenue was $559.5 million, while Production & Automation Technologies revenue increased 13% sequentially to $275.7 million.

ChampionX (Nasdaq: CHX) has released its 2023 corporate sustainability report, highlighting the company's global operations and strategy focused on four key ESG priorities:

• GHG Emissions
• Decarbonization Technologies
• Sustainable Innovation and Digital Transformation
• Employee Attraction, Retention, and Development

CEO Sivasankaran Somasundaram emphasized the company's commitment to responsible business practices and sustainable growth. The report showcases ChampionX's focus on improving lives, unlocking energy, and advancing ESG priorities. The company aims to support customers' carbon-reduction efforts, provide fulfilling career opportunities, enhance shareholder value, and improve communities where it operates globally.

ChampionX (Nasdaq: CHX) has announced a regular quarterly dividend of $0.095 per share on its common stock. The dividend will be paid on October 25, 2024 to shareholders of record as of October 4, 2024. This declaration demonstrates the company's commitment to returning value to its shareholders through consistent dividend payments. The dividend amount remains unchanged from previous quarters, suggesting stability in ChampionX's financial position and cash flow management.

ChampionX (NASDAQ: CHX) reported its Q2 2024 results with revenue of $893.3 million, a 4% year-over-year and 3% sequential decrease. Net income attributable to ChampionX was $52.6 million, with an adjusted EBITDA of $183.2 million and a 20.5% adjusted EBITDA margin. The company generated positive free cash flow of $38.3 million, marking the ninth consecutive quarter of positive free cash flow.

Key highlights include:

• Income before income taxes margin of 9.3%
• Cash from operating activities of $67.6 million
• Completed acquisition of RMSpumptools
• Pending all-stock acquisition by SLB, expected to close in Q4 2024 or Q1 2025

The company's performance was impacted by lower revenue in Mexico, but offset by growth in other regions. ChampionX maintains a strong financial position with $1.1 billion in liquidity.