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, Inc. (NASDAQ: KLXE) announced that it will report its first quarter financial results for 2023 on May 11, 2023, at 10:00 a.m. Eastern Time. The results will be shared during a live conference call, which can be accessed via phone or webcast. For those unable to attend the live call, a replay will be available until May 25, 2023. KLX specializes in providing diversified oilfield services to onshore oil and natural gas exploration companies across major basins in the United States. The company operates over 50 service facilities and focuses on drilling, completion, production, and intervention activities. More information can be found on their official website.
KLX Energy Services Holdings announced the acquisition of Greene's Energy Group in an all-stock transaction valued at approximately $30.3 million. This acquisition is expected to enhance KLX's frac rental and flowback services, particularly in the Permian and Eagle Ford basins. Greene's reported $68 million in revenue and $5.3 million in net income in 2022. The transaction will result in annualized cost synergies of $2-3 million within 12 months and will be accretive to KLX's financial metrics. After the acquisition, former Greene's shareholders will own about 14.7% of KLX's stock.
KLX Energy Services reported its fourth quarter 2022 results, revealing revenue of $223.3 million, a 0.8% increase from the previous quarter, and net income of $13.2 million, up 18.9% sequentially. The company achieved an Adjusted EBITDA of $37.3 million with a margin of 16.7%. They ended the quarter with $57.4 million in cash, $283.4 million in total debt, and improved net leverage ratio at 1.5x. For Q1 2023, KLX anticipates revenue between $225.0 million and $230.0 million. For the full year, revenue expectations are set between $925.0 million and $975.0 million.
KLX Energy Services Holdings, Inc. (Nasdaq: KLXE) announced preliminary financial results for Q4 2022, projecting revenues between $221.5 million and $223.5 million, with net income estimated at $12.0 million to $13.5 million. Adjusted EBITDA is expected to range from $35.7 million to $37.6 million, while cash reserves have increased to $57.4 million, and total debt is down $12.2 million to $283.4 million. KLX reported a notable improvement in its debt profile, finishing 2022 with a net leverage ratio between 1.5x and 1.6x. A conference call is set for March 9, 2023, to discuss these results further.
KLX Energy Services Holdings, Inc. (NASDAQ: KLXE) announced its participation in the Singular Research "Best of the Uncovered" Investor Conference in San Francisco on December 8, 2022, at 10:45 A.M. EST. Investors can access the presentation and register for the webcast via the KLX website. The company emphasizes its commitment to providing diversified oilfield services across the United States, with over 60 facilities supporting drilling, completion, and production activities. More details can be found on their official website.
KLX Energy Services reported strong Q3 2022 financial results, with revenue increasing 20% sequentially to $221.6 million and net income rising to $11.1 million. The company achieved an Adjusted EBITDA of $37.1 million, marking a 113% sequential increase and an EBITDA margin of 16.7%, returning to 2019 levels. Liquidity improved with $86.4 million available, and the firm anticipates stable to slightly rising revenue in Q4 2022. The Board also appointed CEO Christopher Baker as a Class I Director. Yearly revenue guidance stands at $780-$790 million.
KLX Energy Services Holdings, Inc. (KLXE) will report its 2022 third quarter financial results on November 10, 2022, prior to a live conference call at 10:00 a.m. ET. Investors can join the call by dialing 1-201-389-0867 or via a live webcast. A replay of the call will be available until November 24, 2022. KLXE provides diversified oilfield services to major onshore oil and natural gas companies across the U.S., focusing on drilling, completion, and production services.
KLX Energy Services Holdings (NASDAQ: KLXE) announced a Third Amendment to its Credit Agreement with JPMorgan Chase Bank, extending the maturity date to September 15, 2024. The amendment increases the applicable margin by 0.50% and replaces LIBOR with Term SOFR. The company reported improved liquidity, with updates indicating a pro forma liquidity of $84 million as of August 31, 2022. Additionally, KLX raised its third quarter 2022 revenue growth guidance from 9-13% to 16-18% and adjusted EBITDA margin from 10-12% to 14-16%. Actual results are expected by November 11, 2022.
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