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. provides diversified oilfield services to onshore oil and natural gas exploration and production companies in conventional and unconventional U.S. basins. Its updates center on drilling, completion, production and intervention activity for technically demanding wells, supported by proprietary products, specialized services, and in-house manufacturing, repair and maintenance capabilities.
Company news commonly covers quarterly and annual results, Adjusted EBITDA and liquidity disclosures, earnings-call schedules, investor conference participation, and management changes. KLX also reports conditions affecting U.S. land drilling, completion and production demand, including commodity-price volatility and oilfield-services activity levels.
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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