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ChampionX Corporation (Nasdaq: CHX) has declared a quarterly dividend of $0.075 per share on its common stock. This dividend will be paid on October 28, 2022 to shareholders recorded by October 7, 2022. ChampionX is a leader in chemistry solutions and engineered equipment for safe and efficient oil and gas production globally.
ChampionX Corporation reported robust second quarter 2022 results, with revenue of $932.6 million, marking a 24% year-over-year increase and 8% sequential growth. Net income attributable to ChampionX reached $27.3 million, up 277% year-over-year but down 26% sequentially. Adjusted EBITDA was $138.3 million, a 31% increase year-over-year. The company generated $74.2 million in operating cash flow and $53.5 million in free cash flow, returning over 60% of free cash flow to shareholders through dividends and stock repurchases. Looking ahead, ChampionX expects Q3 revenue between $925 million and $955 million.
ChampionX Corporation (NASDAQ: CHX) announced that it will release its second quarter 2022 operating results on July 26, 2022, after market close. A conference call is scheduled for July 27, 2022, at 8:00 a.m. Central Time to discuss these results. The call can be accessed via live webcast on the ChampionX website or by phone. A replay will be available for 30 days post-call. ChampionX provides engineered solutions for oil and gas production, enhancing well lifecycle efficiency.
ChampionX Corporation, based in The Woodlands, Texas, has announced the successful refinancing of its credit facilities with a new agreement. This includes a $625 million 7-year term loan B and a $700 million 5-year revolving credit facility. Funds from the term loan and an initial draw from the revolving credit will be used to pay off existing debts, including the 2018 senior secured credit facility and the 2020 term loan facility. This refinancing extends the nearest debt maturity to 2027 and strengthens the company's liquidity position.
ChampionX Corporation (Nasdaq: CHX) declared a regular quarterly dividend of $0.075 per share on May 12, 2022. The dividend will be paid on July 29, 2022, to shareholders on record as of July 1, 2022. ChampionX is recognized for its innovative chemistry solutions and equipment that enhance the safety and efficiency of oil and gas drilling worldwide. The company’s focus is on improving well performance during the production phase, supporting its commitment to operational excellence.
ChampionX Corporation (NASDAQ: CHX) reported first-quarter 2022 results with revenue of $866.0 million, a 26% year-over-year increase. Net income was $36.7 million with adjusted EBITDA at $124.8 million, a 32% increase year-over-year. Cash flow was negative, with an operating cash flow of $(43.1) million and free cash flow of $(61.0) million. The company initiated a quarterly dividend of $0.075 per share and announced a $250 million share repurchase program. Looking ahead, revenue for Q2 is expected between $875 million and $905 million.
ChampionX LLC announced a supply surcharge for its Chemical Technologies customers, effective immediately. This decision stems from rising global unrest and a constrained supply environment that have led to high inflation in the energy sector. COO Deric Bryant emphasized that this surcharge is necessary to maintain seamless service and support security of supply for customers. ChampionX aims to establish permanent pricing agreements reflecting current costs in the industry.
ChampionX Corporation (NASDAQ: CHX) announced it will release its Q1 2022 operating results on April 26, 2022, after market close. The company will hold a conference call on April 27, 2022, at 8:00 AM CT to discuss the results. Investors can access the call via live webcast on ChampionX’s website or by phone. A replay will be available for 30 days post-call. ChampionX specializes in chemistry solutions and engineered equipment for oil and gas production, aiming for efficiency throughout the lifecycle of wells.
ChampionX Corporation has announced a new $250 million share repurchase program to enhance shareholder returns. The program allows for periodic buybacks of common stock in the open market or via private transactions, contingent on market conditions and free cash availability. The CEO emphasized a commitment to disciplined capital allocation, including a new quarterly dividend of $0.075 per share. The program has no time limit and is expected to be funded through cash generated from operations, aligning with their strategy of investing in growth opportunities while maintaining a strong balance sheet.
