Welcome to our dedicated page for KLX Energy Services Holdings news (Ticker: KLXE), a resource for investors and traders seeking the latest updates and insights on KLX Energy Services Holdings stock.
KLX Energy Services Holdings, Inc. (NASDAQ: KLXE) is a leading provider of completion, intervention, and production services and products to onshore oil and gas producing regions across the United States. With over 1,000 employees in more than 35 locations nationwide, KLX Energy Services delivers over 100 mission-critical oilfield services, tools, technologies, and equipment to some of the industry’s top operators. The company’s offerings include surface facilities and equipment, pressure control services, wireline services, fishing services, and engineered products, focusing on both conventional and unconventional oil and natural gas reserves.
KLX Energy Services is divided into three segments: Southwest, Rocky Mountains, and Northeast/Mid-Con, deriving the most revenue from the Northeast/Mid-Con region. The company aims to streamline customer operations by providing quality services safely while seeking innovative ways to maximize efficiency, prevent unexpected issues, and manage operational risk.
Recent achievements include the acquisition of Greene's Energy Group, LLC, which has strengthened KLX’s market position in the pressure control space. As of the latest financial results, the company reported second quarter 2023 revenue of $234.0 million and net income of $11.4 million. Despite a challenging macro environment, KLX generated $47.3 million in levered free cash flow during the second quarter and reduced net debt by 17% sequentially. The company continues to focus on free cash flow generation, net debt reduction, and accretive consolidation.
KLX Energy Services prides itself on its regional and product line diversification, enabling strong performance even amidst volatile market conditions. The company has also been integrating new proprietary products like the PhantM Dissolvable Frac Plug and the Oracle SRT (Smart Reach Technology), which are rapidly gaining market acceptance.
Looking ahead, KLX remains optimistic about the U.S. onshore drilling, completion, and production markets. The company anticipates increased activity as operators ramp up their drilling and completion projects, driven by supportive commodity prices. KLX Energy Services is committed to continuing its growth trajectory by enhancing operational performance, maintaining pricing discipline, and expanding its suite of innovative products and services.
KLX Energy Services Holdings reported Q3 2024 financial results with revenue of $189 million, representing a 4.8% increase from Q2 2024. The company posted a net loss of $(8) million and diluted loss per share of $(0.51). Adjusted EBITDA was $28 million with a 15% margin. The company maintained a cash balance of $83 million with total debt of $285 million. Management expects a Q4 2024 sequential revenue decline of 10% to 14% due to seasonality and customer budget exhaustion. By end market, completions contributed the largest share at 54% of revenue, followed by drilling at 21%, production at 16%, and intervention at 9%.
KLX Energy Services (NASDAQ: KLXE) has announced it will release its 2024 third quarter financial results before hosting a live conference call on Friday, November 1, 2024, at 11:00 a.m. Eastern Time. The earnings call will be accessible via phone by dialing 1-201-389-0867 or through a live webcast at the investor relations website. A replay will be available through November 15, 2024, using passcode 13749567#, and the webcast archive will be accessible for 90 days.
KLX Energy Services Holdings (KLXE) reported Q2 2024 results with revenue of $180 million, a 3.1% increase from Q1. The company posted a net loss of $8 million and diluted loss per share of $0.49. Adjusted EBITDA improved 125% sequentially to $27 million, with a margin of 15%. KLX implemented $16 million in annualized cost reductions during the quarter. The company's cash balance increased to $87 million, with total debt at $285 million. KLX reaffirmed its Q3 2024 guidance, expecting revenue to be flat to slightly up compared to Q2, with similar Adjusted EBITDA margins.
KLX Energy Services Holdings, Inc. (NASDAQ: KLXE) has announced its schedule for the 2024 second quarter earnings release and conference call. The company will report its financial results before the live conference call, which is set for Thursday, August 8, 2024, at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). Interested parties can access the call via phone by dialing 1-201-389-0867 or through a live webcast available on the company's investor relations website. For those unable to attend the live call, a replay will be accessible until August 22, 2024, by dialing 1-201-612-7415 with passcode 13747369#. Additionally, an archive of the webcast will be available on the company's website for 90 days following the call.
KLX Energy Services Holdings (NASDAQ: KLXE) has released preliminary financial results for Q2 2024. Despite a 7% decline in rig count, the company expects revenue to increase by approximately 3% sequentially to $178-$182 million. KLX anticipates an Adjusted EBITDA of $24-$27 million with margins between 14-15%, showing significant sequential improvement. The company implemented $16 million in annualized cost reductions and expects to generate $5-$11 million in Levered Free Cash Flow. KLX's cash balance increased to approximately $87 million, with total debt at $285 million and net debt at $198 million. The company's liquidity stands at about $126 million, including cash and borrowing availability.
KLX Energy Services Holdings, Inc. reported financial results for the first quarter of 2024, with revenue of $175 million, a net loss of $(22) million, and adjusted EBITDA of $12 million. The company set a new US coiled tubing depth record and aims to improve margins through cost-cutting measures. Despite revenue and net loss declines compared to the previous quarter, KLX sees positive momentum in the second quarter and expects revenue of $180-$200 million with an adjusted EBITDA margin of 9-11%.
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