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ChampionX has announced a quarterly dividend of $0.095 per share for its common stock. This dividend will be paid on July 26, 2024, to shareholders who are on record as of July 5, 2024. The announcement was made on May 16, 2024, by the company's Board of Directors. With a par value of $0.01 per share, this decision maintains ChampionX's commitment to returning value to its shareholders.
ChampionX Corporation has been honored with the 2022 Supplier Recognition Award by ConocoPhillips for its focus on execution in the Greater Ekofisk Area in Norway. This recognition highlights ChampionX's commitment to asset integrity through its innovative chemical solutions designed to enhance the life of oil and gas assets. The award reflects ConocoPhillips' values and emphasizes the crucial role suppliers play in meeting its energy transition and net-zero emissions goals. ChampionX serves customers globally, providing advanced technology and solutions for efficient and sustainable drilling operations. The Greater Ekofisk Area, located in the North Sea, represents a key operational zone for the company.
ChampionX Corporation reported first quarter 2023 revenue of $948.3 million, marking a 10% increase year-over-year. Net income attributed to the company reached $63.5 million, up 73% year-over-year, while adjusted EBITDA was $175.6 million, reflecting a 41% increase year-over-year. Despite a 4% sequential revenue decline, the company saw robust performance in North America, with digital revenue growing 32% year-over-year. Cash from operations stood at $92.4 million, with free cash flow at $69.4 million. The company returned 80% of its free cash flow to shareholders, maintaining a liquidity of $915 million. Looking forward, ChampionX expects Q2 revenue between $970 million and $1.0 billion and aims for adjusted EBITDA of $182 million to $190 million.
ChampionX Corporation (NASDAQ: CHX) will release its first quarter 2023 operating results on April 24, 2023, after the market closes. A conference call is scheduled for April 25, 2023, at 9:00 a.m. Central Time to discuss these results. Interested participants can access the call via a live webcast on ChampionX’s website or by dialing US: 1-888-396-8049, International: 1-416-764-8646, with a reference ID of 40158679. A replay of the call will be available for 30 days on the company’s website.
ChampionX specializes in chemistry solutions and technologies for oil and gas production.
ChampionX Corporation, based in The Woodlands, Texas, will host its 2023 Investor Day on March 7, 2023, at 1:00 PM ET in New York City. The event will feature a live webcast, with presentation slides available on their investor website. ChampionX is recognized as a global leader in chemistry solutions and engineered technologies for oil and gas production, emphasizing safety, efficiency, and sustainability. Their innovative products enhance production and transportation, alongside real-time emissions monitoring. For more information, visit ChampionX.com.
