Welcome to our dedicated page for Championx Corporation news (Ticker: CHX), a resource for investors and traders seeking the latest updates and insights on Championx Corporation stock.
ChampionX Corporation (NASDAQ: CHX) is a global leader in chemical solutions, artificial lift systems, and highly engineered equipment and technologies for the oil and gas industry. Formed in 2020 from the acquisition of Ecolab's chemical technologies by Apergy, ChampionX brings over a century of expertise in delivering innovations that shape the market's future. The company specializes in providing chemical solutions and equipment for both onshore and offshore oil and gas production, with a particular focus on the production phase of wells.
ChampionX's key offerings include artificial lift services and drilling technologies, such as polycrystalline diamond cutter inserts. The company also excels in digital automation applications and real-time emissions monitoring throughout the well lifecycle. ChampionX's Production & Automation Technologies (PAT) segment designs, manufactures, and services a full range of artificial lift equipment, end-to-end automation solutions, and other production equipment.
In recent developments, ChampionX has announced the acquisition of Artificial Lift Performance Limited (ALP), a provider of advanced analytics solutions to enhance oil and gas production performance. This acquisition strengthens ChampionX's digital growth strategy, combining ALP's Pump Checker™ software with ChampionX's XSPOC™ optimization software to deliver comprehensive analytics for all major artificial lift types.
Financially, ChampionX has continued to perform robustly. In the first quarter of 2024, the company reported revenues of $922.1 million, with a net income attributable to ChampionX of $112.9 million. The adjusted EBITDA stood at $191.7 million, reflecting a margin of 20.8%. The company generated $173.5 million in cash from operating activities and $144 million in free cash flow.
ChampionX's ongoing projects and strategic acquisitions, such as the purchase of RMSpumptools, aim to enhance its portfolio and expand its market presence globally. With a strong focus on sustainable and efficient oil and gas production, ChampionX continues to innovate and provide valuable solutions to its customers.
ChampionX Corporation (NASDAQ: CHX) announced an investment in QLM Technology Ltd, which specializes in a quantum gas camera that detects methane emissions. This investment aligns with ChampionX's strategy to leverage its capabilities in the energy market, promoting sustainable growth during the energy transition. QLM's technology aims to assist organizations in achieving net zero emissions by effectively measuring industrial methane emissions. The partnership is expected to enhance QLM's development and market presence.
ChampionX Corporation (NASDAQ: CHX) announced that it will release its Q1 2021 operating results on April 28, 2021, after market close. A conference call is scheduled for April 29, 2021, at 9:00 a.m. CT to discuss the results, which will be accessible via live webcast on the company's website or through a dedicated phone line. Interested participants are encouraged to register 15 minutes before the call. ChampionX provides chemistry solutions and specialized equipment for the oil and gas industry, enhancing production efficiency throughout the lifecycle of wells.
ChampionX Corporation reported Q4’20 revenue of $706.1 million, a sequential increase of 11%. Net income attributable to ChampionX was $7.4 million, with adjusted EBITDA at $108.6 million, up 25% sequentially. Positive cash flow included $120.6 million from operating activities and $107.6 million in free cash flow. The company also repaid $79.8 million in debt. Guidance for Q1’21 projects revenue between $650 million and $700 million, with adjusted EBITDA of $90 million to $100 million.
ChampionX Corporation announced the retirement of Jay A. Nutt, Senior VP and CFO, effective February 1, 2021, after 35 years in financial leadership roles. He will continue as an advisor until the end of Q2. Kenneth M. Fisher has been appointed as the new CFO, bringing valuable experience from Noble Energy and Shell. The leadership transition is positioned to enhance the company's strategic execution and financial goals following recent mergers.
ChampionX Corporation (NASDAQ: CHX) will release its fourth quarter and full year 2020 operating results on February 23, 2021, after market closure. A conference call is scheduled for February 24, 2021, at 9:00 AM CT to discuss these results. Investors can access the live webcast on the ChampionX website or by dialing provided numbers. A replay will be available for 30 days. ChampionX specializes in chemistry solutions and advanced equipment for oil and gas production, focusing on enhancing well lifecycle efficiency.
ChampionX Corporation announced its voluntary stock exchange transfer to the Nasdaq Global Select Market from the New York Stock Exchange, effective December 31, 2020. Trading will begin on Nasdaq on January 4, 2021, retaining the ticker symbol CHX. The move aims to align with Nasdaq's technological advancements and ESG focus, enhancing operational efficiency and accessibility to innovative tools for customers and shareholders. ChampionX, formerly Apergy Corporation, specializes in chemistry solutions and technologies for oil and gas production.
ChampionX announced the results of its cash tender offer for certain senior notes, with valid tenders accepted totaling $22.95 million from the $300 million offering. The early tender premium has been extended to December 28, 2020, allowing holders to receive $1,010 per $1,000 principal amount. The early settlement date is set for December 15, 2020. J.P. Morgan is managing the offer, while D.F. King acts as the information agent. All terms and conditions are outlined in the Offer to Purchase document dated November 30, 2020.
ChampionX Corporation has initiated a cash tender offer to repurchase up to $100 million of its 6.375% Senior Notes due in 2026. The offer begins today, with an expiration set for December 28, 2020. Eligible holders who tender their notes by the early tender date, December 11, 2020, will receive a total consideration of $1,010.00 per $1,000 principal amount, which includes a premium. The company reserves the right to adjust the terms and conditions of the tender offer at any time.
ChampionX Corporation (NYSE: CHX) announced an exclusive collaboration with Modumetal Inc. to advance production-related technology. The agreement focuses on introducing Norris® Rod couplings enhanced with Modumetal's nanolaminate technology. Both companies will explore the feasibility of integrating this technology with production equipment to enhance reliability and reduce operating expenses for oil and gas operators. The collaboration aims to improve performance in challenging oil-well environments, marking a significant step in commercializing advanced materials.
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