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.
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KLX Energy Services Holdings, Inc. (NASDAQ: KLXE) announced that it will report its first quarter financial results for 2023 on May 11, 2023, at 10:00 a.m. Eastern Time. The results will be shared during a live conference call, which can be accessed via phone or webcast. For those unable to attend the live call, a replay will be available until May 25, 2023. KLX specializes in providing diversified oilfield services to onshore oil and natural gas exploration companies across major basins in the United States. The company operates over 50 service facilities and focuses on drilling, completion, production, and intervention activities. More information can be found on their official website.
KLX Energy Services Holdings announced the acquisition of Greene's Energy Group in an all-stock transaction valued at approximately $30.3 million. This acquisition is expected to enhance KLX's frac rental and flowback services, particularly in the Permian and Eagle Ford basins. Greene's reported $68 million in revenue and $5.3 million in net income in 2022. The transaction will result in annualized cost synergies of $2-3 million within 12 months and will be accretive to KLX's financial metrics. After the acquisition, former Greene's shareholders will own about 14.7% of KLX's stock.
KLX Energy Services reported its fourth quarter 2022 results, revealing revenue of $223.3 million, a 0.8% increase from the previous quarter, and net income of $13.2 million, up 18.9% sequentially. The company achieved an Adjusted EBITDA of $37.3 million with a margin of 16.7%. They ended the quarter with $57.4 million in cash, $283.4 million in total debt, and improved net leverage ratio at 1.5x. For Q1 2023, KLX anticipates revenue between $225.0 million and $230.0 million. For the full year, revenue expectations are set between $925.0 million and $975.0 million.
KLX Energy Services Holdings, Inc. (Nasdaq: KLXE) announced preliminary financial results for Q4 2022, projecting revenues between $221.5 million and $223.5 million, with net income estimated at $12.0 million to $13.5 million. Adjusted EBITDA is expected to range from $35.7 million to $37.6 million, while cash reserves have increased to $57.4 million, and total debt is down $12.2 million to $283.4 million. KLX reported a notable improvement in its debt profile, finishing 2022 with a net leverage ratio between 1.5x and 1.6x. A conference call is set for March 9, 2023, to discuss these results further.
KLX Energy Services Holdings, Inc. (NASDAQ: KLXE) announced its participation in the Singular Research "Best of the Uncovered" Investor Conference in San Francisco on December 8, 2022, at 10:45 A.M. EST. Investors can access the presentation and register for the webcast via the KLX website. The company emphasizes its commitment to providing diversified oilfield services across the United States, with over 60 facilities supporting drilling, completion, and production activities. More details can be found on their official website.