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) provides essential oilfield technologies and sustainable production solutions for global energy operators. This dedicated news hub offers investors and industry professionals timely updates on operational developments, strategic initiatives, and technological advancements shaping the future of energy production.
Access authoritative updates including quarterly earnings reports, product launches like emissions-reduction technologies, and strategic partnerships such as the RMSpumptools acquisition. Discover how CHX addresses critical industry challenges through innovations in artificial lift systems, chemical solutions, and digital automation tools.
This resource consolidates official announcements and analysis on sustainability efforts, regulatory compliance, and operational efficiency improvements. Stay informed about ChampionX's role in advancing cleaner energy practices while maintaining production optimization for upstream operators.
Bookmark this page for continuous access to verified CHX updates, ensuring you never miss developments impacting one of the oilfield technology sector's most innovative providers.
ChampionX (Nasdaq: CHX) has released its 2023 corporate sustainability report, highlighting the company's global operations and strategy focused on four key ESG priorities:
- GHG Emissions
- Decarbonization Technologies
- Sustainable Innovation and Digital Transformation
- Employee Attraction, Retention, and Development
CEO Sivasankaran Somasundaram emphasized the company's commitment to responsible business practices and sustainable growth. The report showcases ChampionX's focus on improving lives, unlocking energy, and advancing ESG priorities. The company aims to support customers' carbon-reduction efforts, provide fulfilling career opportunities, enhance shareholder value, and improve communities where it operates globally.
ChampionX (Nasdaq: CHX) has announced a regular quarterly dividend of $0.095 per share on its common stock. The dividend will be paid on October 25, 2024 to shareholders of record as of October 4, 2024. This declaration demonstrates the company's commitment to returning value to its shareholders through consistent dividend payments. The dividend amount remains unchanged from previous quarters, suggesting stability in ChampionX's financial position and cash flow management.
ChampionX (NASDAQ: CHX) reported its Q2 2024 results with revenue of $893.3 million, a 4% year-over-year and 3% sequential decrease. Net income attributable to ChampionX was $52.6 million, with an adjusted EBITDA of $183.2 million and a 20.5% adjusted EBITDA margin. The company generated positive free cash flow of $38.3 million, marking the ninth consecutive quarter of positive free cash flow.
Key highlights include:
- Income before income taxes margin of 9.3%
- Cash from operating activities of $67.6 million
- Completed acquisition of RMSpumptools
- Pending all-stock acquisition by SLB, expected to close in Q4 2024 or Q1 2025
The company's performance was impacted by lower revenue in Mexico, but offset by growth in other regions. ChampionX maintains a strong financial position with $1.1 billion in liquidity.
ChampionX has acquired RMSpumptools , a company known for its mechanical and electrical solutions for artificial lift applications. This acquisition aims to enhance ChampionX's Production & Automation Technologies (PAT) portfolio, providing growth opportunities in international markets including the Middle East, Latin America, and global offshore projects. RMSpumptools will operate as a standalone unit within ChampionX's PAT segment, ensuring high customer service standards. The acquisition aligns with ChampionX's strategy to expand its footprint in North America and leverage RMSpumptools' expertise in ESP monitoring systems and subsea connector technologies.
SLB (NYSE: SLB) has announced a second request for additional information from the U.S. Department of Justice (DoJ) regarding its planned acquisition of ChampionX (NASDAQ: CHX). This request is a part of the DoJ's review process. The acquisition, which received approval from ChampionX stockholders on June 18, 2024, is anticipated to close by either the fourth quarter of 2024 or the first quarter of 2025, contingent on regulatory approvals and customary closing conditions.
ChampionX has announced a quarterly dividend of $0.095 per share for its common stock. This dividend will be paid on July 26, 2024, to shareholders who are on record as of July 5, 2024. The announcement was made on May 16, 2024, by the company's Board of Directors. With a par value of $0.01 per share, this decision maintains ChampionX's commitment to returning value to its shareholders.
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