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 (KLXE) will attend two investor conferences in September 2022. The company's President and CEO, Chris Baker, and EVP and CFO, Keefer Lehner, are set to participate in the Barclays 2022 CEO Energy-Power Conference in New York City from September 6-8, followed by the H.C. Wainwright 24th Annual Global Investment Conference on September 13-14. A slide presentation used at these events will be available on the KLX Energy website on September 6.
KLX Energy Services (Nasdaq: KLXE) reported a strong second quarter of 2022 with revenue of $184.4 million, a 21% increase from the previous quarter. The net loss improved to $7.5 million, down 62% sequentially, while Adjusted EBITDA surged 255% to $17.4 million. The company expects 9% to 13% revenue growth in Q3, with an Adjusted EBITDA margin of 10% to 12%. Total liquidity rose to $56.6 million, reflecting an increase in available cash and borrowing capacity despite total debt of $295.4 million.
KLX Energy Services Holdings, Inc. (KLXE) will announce its 2022 second quarter financial results before a live conference call on August 12, 2022, at 10:00 a.m. Eastern Time. Investors can access the call by dialing 1-201-389-0867 or through a live webcast. For those unable to attend, a replay will be available until August 26, 2022, by dialing 1-201-612-7415 with the passcode 13731739#. KLXE specializes in providing diversified oilfield services and operates across major basins in the U.S.
KLXE reported a revenue of $152.3 million for Q1 2022, marking a 61% increase from the Transition Fourth Quarter. However, the company faced a net loss of $19.9 million and a 27% decrease in Adjusted EBITDA compared to the Pro Forma Prior Year Fourth Quarter. Despite challenges including Omicron and weather disruptions, KLXE is optimistic about Q2, forecasting a 16% to 20% revenue increase and Adjusted EBITDA margins of 7% to 9%. The company ended the quarter with $54.6 million in available liquidity.
KLX Energy Services Holdings, Inc. (KLXE) announced it will report its first quarter 2022 financial results before a live earnings conference call on May 13, 2022, at 10:00 a.m. ET. Interested participants can join via phone or a live webcast. For those unable to attend the live call, a replay will be available until May 27, 2022. KLXE is a growth-oriented provider of oilfield services across major U.S. basins, delivering critical services focused on well drilling, completion, and production activities.
KLX Energy Services Holdings reported financial results for the Transition Fourth Quarter and Transition Period ending December 31, 2021. The Transition Fourth Quarter revenue was $94.4 million, with a net loss of $13.2 million and adjusted EBITDA of $3.6 million. Comparatively, the Pro Forma Fourth Quarter revenue increased by 13% to $145.0 million with adjusted EBITDA rising 63% to $6.7 million. The company ended the year with $28.0 million in cash and $70.4 million in total liquidity, despite incurring $1.6 million in COVID-19 related costs. Looking ahead, KLXE anticipates a revenue increase of 35% to 45% in 2022.
KLX Energy Services Holdings, Inc. (KLXE) announced plans to release its fourth quarter 2021 financial results on March 10, 2022, after market close. A live conference call will follow on March 11, 2022, at 10:00 a.m. ET. This release accompanies a change in the company's fiscal year-end to December 31, standardizing its reporting cycle. As a result, the fiscal year 2021 will span 11 months, ending December 31, 2021. The Annual Report on Form 10-K will cover this transition period.
KLX Energy Services Holdings reported fiscal third-quarter 2021 results, showcasing a revenue increase of 24.2% to $139.0 million compared to the previous quarter. The net loss improved to $18.8 million, down 24.8% from last quarter, while Adjusted EBITDA surged 733.3% to $5.0 million. Cash balance also grew, reaching $40.8 million with total liquidity at $70.8 million. Looking ahead, the company expects revenue for the fourth quarter to be between $140 million and $145 million, indicating continued improvement.
KLX Energy Services Holdings, Inc. (KLXE) will release its fiscal third quarter 2021 financial results on December 9, 2021, after market close. A conference call is scheduled for December 10, 2021, at 10:00 a.m. Eastern Time. Interested participants can join via phone or live webcast. Those unable to attend can access a replay available until December 24, 2021. KLXE is a provider of diversified oilfield services across the U.S., focusing on mission-critical activities in oil and gas exploration and production.
KLX Energy Services Holdings reported a fiscal second quarter 2021 revenue of $111.9 million, marking a 23.2% sequential increase from the first quarter. The net loss decreased to $25.0 million, a 32.1% improvement from the previous quarter. Adjusted EBITDA was $0.6 million, the first positive result since Q1 2020. The company ended the quarter with $57.2 million in available liquidity. Looking ahead, fiscal third quarter revenue is projected to rise by 8% to 12%.
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