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. (KLXE) announced its fiscal second quarter 2021 financial results will be released on September 9, 2021, post-market. A conference call is scheduled for September 10, 2021, at 10:00 a.m. ET. Investors can join via phone at 1-201-389-0867 or through a live webcast available on their investor relations site. A replay will be accessible until September 17, 2021. KLXE provides diversified oilfield services across the U.S., emphasizing drilling and completion activities.
KLX Energy Services (KLXE) reported fiscal first-quarter 2021 revenue of $90.8 million, a 4.6% increase from the previous quarter. However, the company faced a net loss of $36.8 million, up from $30.5 million in the fourth quarter of 2020, influenced by scheduling issues and Winter Storm Uri. Looking ahead, KLXE expects a 15% to 20% revenue growth in the second quarter, driven by increased drilling and completion activities, along with an additional $4.4 million in annualized cost savings.
KLX Energy Services Holdings (KLXE) will release its fiscal first quarter 2021 financial results on June 9, 2021, after market close. A conference call is scheduled for June 10, 2021, at 10:00 a.m. ET, to discuss these results. Investors can participate by dialing 1-201-389-0867 or via live webcast.
The call will be available for replay until June 17, 2021. KLXE provides diversified oilfield services to major onshore oil and gas companies across the U.S. More details and the webcast link are accessible on their investor relations website.
KLX Energy Services Holdings reported strong fiscal fourth-quarter results for 2020, with revenue of $86.8 million, a 22.4% increase from the prior quarter. The net loss narrowed to $30.5 million, improving by 20.4%. Notably, Adjusted EBITDA loss improved by $2.8 million to $2.6 million. The company ended the quarter with $47.1 million in cash and $82 million in total liquidity. Successful integration of the QES merger led to $46 million in cost synergies, ahead of schedule. Looking forward, KLXE anticipates a strong rebound despite initial challenges posed by Winter Storm Uri.
KLX Energy Services Holdings, Inc. (KLXE) will announce its fiscal fourth quarter and full-year 2020 financial results on April 14, 2021, after market close. A conference call is scheduled for April 15, 2021, at 10:00 a.m. Eastern Time. Investors can participate via phone or listen live online. The call will be archived for replay until April 22, 2021. KLXE provides diversified oilfield services to onshore oil and natural gas exploration companies, focusing on drilling and production activities across major U.S. basins.
KLXE reported financial results for its fiscal Q3 ended October 31, 2020, showing revenue of $70.9 million, up 30.1% from the previous quarter. The net loss decreased to $38.3 million, and Adjusted EBITDA loss improved to $5.4 million, marking reductions of 30.1% and 72.0%, respectively. The merger with Quintana Energy Services is driving cost synergies of $40 million, with an additional $6 million identified. KLXE ended the quarter with $79.8 million in cash and $106.2 million in liquidity, indicating a solid financial position amid challenging market conditions.
KLX Energy Services Holdings (KLXE) announced the release of its fiscal third quarter 2020 financial results on December 7, 2020, after market close. The company will hold a conference call on December 8, 2020, at 10:00 a.m. Eastern Time, to discuss these results. The call will be accessible via phone and live stream. A replay will be available until December 15, 2020. KLXE provides diversified oilfield services to major U.S. oil and gas companies, focusing on drilling and production activities.
KLX Energy Services Holdings (Nasdaq: KLXE) announced that CEO Chris Baker and CFO Keefer Lehner will participate in the Barclays CEO Energy-Power Virtual Conference on September 8, 2020. KLXE provides a range of oilfield services to major U.S. onshore oil and gas companies, focusing on drilling, completion, intervention, and production activities. The company operates over 60 service facilities nationwide, offering proprietary products and specialized services supported by a skilled workforce and robust R&D capabilities. For more details, visit KLX Energy.
KLXE reported its fiscal Q2 results, ending July 31, 2020, reflecting a significant revenue decline to $36.2 million, down 56.4% from Q1. The net loss was $20.4 million, improving from a previous $243.1 million loss. The merger with QES on July 28 was completed, generating expected run-rate cost synergies of $40 million. KLXE ended the quarter with $98.5 million in cash and anticipates challenges in the drilling sector due to low commodity prices. The company reported significant losses across its segments, particularly in the Southwest region, which faced an 82.8% revenue decrease.
KLX Energy Services Holdings, Inc. (KLXE) announced the release of its fiscal second quarter 2020 financial results on September 2, 2020, after market close. A subsequent earnings conference call is scheduled for September 3, 2020, at 10:00 a.m. ET, which will be available for live listening via phone or internet. A replay will be provided until September 10, 2020. KLXE specializes in diversified oilfield services, providing critical support for drilling, completion, and production across major U.S. basins.
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