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 (CHX) is described in its public communications as a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that support oil and gas drilling and production around the world. This news page aggregates company-issued updates and market announcements related to ChampionX, providing a focused view of how the company presents its operations, financial results, and strategic transactions.
Readers can find news releases covering quarterly and annual financial results, where ChampionX reports revenue, margins, cash flow, and performance across its Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies segments. These updates often include commentary on segment trends, digital product revenue, and non-GAAP financial measures such as adjusted EBITDA and free cash flow, which the company uses to describe its operating performance and cash generation.
The news stream also includes announcements about regular quarterly cash dividends on ChampionX common stock, reflecting board decisions on dividend declarations and related record and payment dates. In addition, ChampionX has published detailed communications about its definitive Agreement and Plan of Merger with Schlumberger Limited (SLB), under which ChampionX is expected to become an indirect wholly owned subsidiary of SLB, subject to regulatory approvals and other closing conditions.
Other types of news highlighted by ChampionX include technology and emissions-related developments, such as the approval of its Aerial Optical Gas Imaging (AOGI) platform by the U.S. Environmental Protection Agency for use under a Methane Alternative Test Method, and segment-level business highlights that describe contract awards, product deployments, and digital solutions in various regions. Investors and analysts following CHX-related news can use this page to review the company’s own descriptions of its financial performance, portfolio evolution, and corporate transactions over time.
ChampionX Corporation (NASDAQ: CHX) announced that it will release its second quarter 2022 operating results on July 26, 2022, after market close. A conference call is scheduled for July 27, 2022, at 8:00 a.m. Central Time to discuss these results. The call can be accessed via live webcast on the ChampionX website or by phone. A replay will be available for 30 days post-call. ChampionX provides engineered solutions for oil and gas production, enhancing well lifecycle efficiency.
ChampionX Corporation, based in The Woodlands, Texas, has announced the successful refinancing of its credit facilities with a new agreement. This includes a $625 million 7-year term loan B and a $700 million 5-year revolving credit facility. Funds from the term loan and an initial draw from the revolving credit will be used to pay off existing debts, including the 2018 senior secured credit facility and the 2020 term loan facility. This refinancing extends the nearest debt maturity to 2027 and strengthens the company's liquidity position.
ChampionX Corporation (Nasdaq: CHX) declared a regular quarterly dividend of $0.075 per share on May 12, 2022. The dividend will be paid on July 29, 2022, to shareholders on record as of July 1, 2022. ChampionX is recognized for its innovative chemistry solutions and equipment that enhance the safety and efficiency of oil and gas drilling worldwide. The company’s focus is on improving well performance during the production phase, supporting its commitment to operational excellence.
ChampionX Corporation (NASDAQ: CHX) reported first-quarter 2022 results with revenue of $866.0 million, a 26% year-over-year increase. Net income was $36.7 million with adjusted EBITDA at $124.8 million, a 32% increase year-over-year. Cash flow was negative, with an operating cash flow of $(43.1) million and free cash flow of $(61.0) million. The company initiated a quarterly dividend of $0.075 per share and announced a $250 million share repurchase program. Looking ahead, revenue for Q2 is expected between $875 million and $905 million.
Magellan Midstream Partners (NYSE: MMP) announced the retirement of Robert Croyle from its board, effective April 30, after 13 years of service. Sivasankaran "Soma" Somasundaram will succeed him, starting May 1. Soma brings over 30 years of experience in energy and industrial markets, currently serving as CEO of ChampionX Corporation (NASDAQ: CHX). His background includes leadership roles at Apergy Corporation (NYSE: APY) and Dover Corporation, focusing on operational excellence and growth strategies. This board change aims to enhance value for long-term investors.
ChampionX LLC announced a supply surcharge for its Chemical Technologies customers, effective immediately. This decision stems from rising global unrest and a constrained supply environment that have led to high inflation in the energy sector. COO Deric Bryant emphasized that this surcharge is necessary to maintain seamless service and support security of supply for customers. ChampionX aims to establish permanent pricing agreements reflecting current costs in the industry.
ChampionX Corporation (NASDAQ: CHX) announced it will release its Q1 2022 operating results on April 26, 2022, after market close. The company will hold a conference call on April 27, 2022, at 8:00 AM CT to discuss the results. Investors can access the call via live webcast on ChampionX’s website or by phone. A replay will be available for 30 days post-call. ChampionX specializes in chemistry solutions and engineered equipment for oil and gas production, aiming for efficiency throughout the lifecycle of wells.
ChampionX Corporation has announced a new $250 million share repurchase program to enhance shareholder returns. The program allows for periodic buybacks of common stock in the open market or via private transactions, contingent on market conditions and free cash availability. The CEO emphasized a commitment to disciplined capital allocation, including a new quarterly dividend of $0.075 per share. The program has no time limit and is expected to be funded through cash generated from operations, aligning with their strategy of investing in growth opportunities while maintaining a strong balance sheet.
ChampionX Corporation reported Q4 2021 revenue of $822.1 million and net income of $43.4 million, with adjusted EBITDA at $133.1 million.
Free cash flow reached $71.0 million, equating to 9% of revenue. The company repaid $46.7 million in debt, achieving a 1.0x net leverage ratio. ChampionX is initiating a quarterly cash dividend of $0.075 per share, with a committed focus on capital allocation and growth amidst ongoing supply chain challenges.
ChampionX Corporation (NASDAQ: CHX) has launched the HIGH RISE™ series pumps under its UNBRIDLED® ESP Systems. These pumps utilize patented Oculus™ technology, delivering up to 33% more lift per unit length, which enhances performance and reduces installation times. The HIGH RISE series accommodates production rates from 200 to 7,500 BPD and lowers carbon emissions by one ton per installation. Additionally, the design improvements offer 20% greater shaft strength and 40% increased pull strength, aiming to extend ESP longevity and overall well production efficiency.