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 an oilfield services company that regularly issues news and updates related to its operations, financial performance and investor outreach. The company describes itself as a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production companies operating in both conventional and unconventional plays across all of the active major basins in the United States.
News about KLX Energy Services often centers on quarterly and annual financial results, including revenue trends, segment performance across the Rocky Mountains, Southwest and Northeast/Mid-Con regions, and product line contributions from drilling, completion, production and intervention services. Releases also discuss Adjusted EBITDA and other non-GAAP metrics, liquidity, capital expenditures and changes in the company’s capital structure, such as refinancing activities involving senior notes and asset-based credit facilities.
KLX also publishes updates on its investor relations activities, such as schedules for earnings conference calls, participation in virtual and in-person conferences, and non-deal roadshows where management meets with investors. In addition, the company issues announcements about executive leadership changes, including appointments in key finance and accounting roles. These items provide context on corporate governance and continuity in financial oversight.
Investors and followers of KLXE news can use this stream of company-issued information to monitor how KLX Energy Services is performing across its geographic segments, how its service mix in drilling, completion, production and intervention is evolving, and how management is addressing market conditions in the support activities for oil and gas operations industry. Regular updates on conference participation and investor presentations also offer additional detail on the company’s strategy and outlook as described by its leadership.
KLX Energy Services Holdings (KLXE) has successfully completed a significant refinancing operation, closing on $232 million senior secured notes due March 2030, accompanied by warrants for company common stock purchase. Additionally, the company has secured a new ABL credit facility due March 2028 with a $125 million commitment, including a first-in-last-out facility with a $10 million commitment and a committed incremental loan option of $25 million. This refinancing package replaces the company's existing 2025 senior secured notes.
KLX Energy Services Holdings (Nasdaq: KLXE) has announced a schedule change for its 2024 Fourth Quarter and Year End Conference Call, moving it forward to March 13, 2025. The company will release its financial results before the live conference call, which is scheduled for 10:00 a.m. Eastern Daylight Time (9:00 a.m. Central Daylight Time).
The company also expects to complete its previously announced refinancing transactions on March 12, 2025, subject to closing processes. For those unable to attend the live call, a replay will be available through March 27, 2025, accessible by dialing 1-201-612-7415 with passcode 13751933#. Additionally, a webcast archive will be available at the investor relations website for 90 days following the call.
KLX Energy Services Holdings (NASDAQ: KLXE) has announced a significant refinancing initiative, entering into agreements to refinance its existing 2025 senior secured notes with new $232 million senior secured notes due March 2030. The company has also secured a new ABL credit facility due March 2028 with a $125 million commitment, including a $10 million first-in-last-out facility and a $25 million committed incremental loan option.
The refinancing is expected to close around March 11, 2025. The company reports strong Q4 2024 performance, with revenue expected at the midpoint of guidance and Adjusted EBITDA margin exceeding the high-end of previous guidance, despite a 5% decline in U.S. rig count. This performance is attributed to the company's focus on cost controls and favorable mix shifts in product service lines.
KLX Energy Services Holdings reported Q3 2024 financial results with revenue of $189 million, representing a 4.8% increase from Q2 2024. The company posted a net loss of $(8) million and diluted loss per share of $(0.51). Adjusted EBITDA was $28 million with a 15% margin. The company maintained a cash balance of $83 million with total debt of $285 million. Management expects a Q4 2024 sequential revenue decline of 10% to 14% due to seasonality and customer budget exhaustion. By end market, completions contributed the largest share at 54% of revenue, followed by drilling at 21%, production at 16%, and intervention at 9%.
KLX Energy Services (NASDAQ: KLXE) has announced it will release its 2024 third quarter financial results before hosting a live conference call on Friday, November 1, 2024, at 11:00 a.m. Eastern Time. The earnings call will be accessible via phone by dialing 1-201-389-0867 or through a live webcast at the investor relations website. A replay will be available through November 15, 2024, using passcode 13749567#, and the webcast archive will be accessible for 90 days.
KLX Energy Services Holdings (KLXE) reported Q2 2024 results with revenue of $180 million, a 3.1% increase from Q1. The company posted a net loss of $8 million and diluted loss per share of $0.49. Adjusted EBITDA improved 125% sequentially to $27 million, with a margin of 15%. KLX implemented $16 million in annualized cost reductions during the quarter. The company's cash balance increased to $87 million, with total debt at $285 million. KLX reaffirmed its Q3 2024 guidance, expecting revenue to be flat to slightly up compared to Q2, with similar Adjusted EBITDA margins.
KLX Energy Services Holdings, Inc. (NASDAQ: KLXE) has announced its schedule for the 2024 second quarter earnings release and conference call. The company will report its financial results before the live conference call, which is set for Thursday, August 8, 2024, at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). Interested parties can access the call via phone by dialing 1-201-389-0867 or through a live webcast available on the company's investor relations website. For those unable to attend the live call, a replay will be accessible until August 22, 2024, by dialing 1-201-612-7415 with passcode 13747369#. Additionally, an archive of the webcast will be available on the company's website for 90 days following the call.
KLX Energy Services Holdings (NASDAQ: KLXE) has released preliminary financial results for Q2 2024. Despite a 7% decline in rig count, the company expects revenue to increase by approximately 3% sequentially to $178-$182 million. KLX anticipates an Adjusted EBITDA of $24-$27 million with margins between 14-15%, showing significant sequential improvement. The company implemented $16 million in annualized cost reductions and expects to generate $5-$11 million in Levered Free Cash Flow. KLX's cash balance increased to approximately $87 million, with total debt at $285 million and net debt at $198 million. The company's liquidity stands at about $126 million, including cash and borrowing availability.
KLX Energy Services Holdings, Inc. reported financial results for the first quarter of 2024, with revenue of $175 million, a net loss of $(22) million, and adjusted EBITDA of $12 million. The company set a new US coiled tubing depth record and aims to improve margins through cost-cutting measures. Despite revenue and net loss declines compared to the previous quarter, KLX sees positive momentum in the second quarter and expects revenue of $180-$200 million with an adjusted EBITDA margin of 9-11%.
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