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 reported strong Q3 2022 financial results, with revenue increasing 20% sequentially to $221.6 million and net income rising to $11.1 million. The company achieved an Adjusted EBITDA of $37.1 million, marking a 113% sequential increase and an EBITDA margin of 16.7%, returning to 2019 levels. Liquidity improved with $86.4 million available, and the firm anticipates stable to slightly rising revenue in Q4 2022. The Board also appointed CEO Christopher Baker as a Class I Director. Yearly revenue guidance stands at $780-$790 million.
KLX Energy Services Holdings, Inc. (KLXE) will report its 2022 third quarter financial results on November 10, 2022, prior to a live conference call at 10:00 a.m. ET. Investors can join the call by dialing 1-201-389-0867 or via a live webcast. A replay of the call will be available until November 24, 2022. KLXE provides diversified oilfield services to major onshore oil and natural gas companies across the U.S., focusing on drilling, completion, and production services.
KLX Energy Services Holdings (NASDAQ: KLXE) announced a Third Amendment to its Credit Agreement with JPMorgan Chase Bank, extending the maturity date to September 15, 2024. The amendment increases the applicable margin by 0.50% and replaces LIBOR with Term SOFR. The company reported improved liquidity, with updates indicating a pro forma liquidity of $84 million as of August 31, 2022. Additionally, KLX raised its third quarter 2022 revenue growth guidance from 9-13% to 16-18% and adjusted EBITDA margin from 10-12% to 14-16%. Actual results are expected by November 11, 2022.
KLX Energy Services Holdings (KLXE) will attend two investor conferences in September 2022. The company's President and CEO, Chris Baker, and EVP and CFO, Keefer Lehner, are set to participate in the Barclays 2022 CEO Energy-Power Conference in New York City from September 6-8, followed by the H.C. Wainwright 24th Annual Global Investment Conference on September 13-14. A slide presentation used at these events will be available on the KLX Energy website on September 6.
KLX Energy Services (Nasdaq: KLXE) reported a strong second quarter of 2022 with revenue of $184.4 million, a 21% increase from the previous quarter. The net loss improved to $7.5 million, down 62% sequentially, while Adjusted EBITDA surged 255% to $17.4 million. The company expects 9% to 13% revenue growth in Q3, with an Adjusted EBITDA margin of 10% to 12%. Total liquidity rose to $56.6 million, reflecting an increase in available cash and borrowing capacity despite total debt of $295.4 million.
KLX Energy Services Holdings, Inc. (KLXE) will announce its 2022 second quarter financial results before a live conference call on August 12, 2022, at 10:00 a.m. Eastern Time. Investors can access the call by dialing 1-201-389-0867 or through a live webcast. For those unable to attend, a replay will be available until August 26, 2022, by dialing 1-201-612-7415 with the passcode 13731739#. KLXE specializes in providing diversified oilfield services and operates across major basins in the U.S.
KLXE reported a revenue of $152.3 million for Q1 2022, marking a 61% increase from the Transition Fourth Quarter. However, the company faced a net loss of $19.9 million and a 27% decrease in Adjusted EBITDA compared to the Pro Forma Prior Year Fourth Quarter. Despite challenges including Omicron and weather disruptions, KLXE is optimistic about Q2, forecasting a 16% to 20% revenue increase and Adjusted EBITDA margins of 7% to 9%. The company ended the quarter with $54.6 million in available liquidity.
KLX Energy Services Holdings, Inc. (KLXE) announced it will report its first quarter 2022 financial results before a live earnings conference call on May 13, 2022, at 10:00 a.m. ET. Interested participants can join via phone or a live webcast. For those unable to attend the live call, a replay will be available until May 27, 2022. KLXE is a growth-oriented provider of oilfield services across major U.S. basins, delivering critical services focused on well drilling, completion, and production activities.
KLX Energy Services Holdings reported financial results for the Transition Fourth Quarter and Transition Period ending December 31, 2021. The Transition Fourth Quarter revenue was $94.4 million, with a net loss of $13.2 million and adjusted EBITDA of $3.6 million. Comparatively, the Pro Forma Fourth Quarter revenue increased by 13% to $145.0 million with adjusted EBITDA rising 63% to $6.7 million. The company ended the year with $28.0 million in cash and $70.4 million in total liquidity, despite incurring $1.6 million in COVID-19 related costs. Looking ahead, KLXE anticipates a revenue increase of 35% to 45% in 2022.
KLX Energy Services Holdings, Inc. (KLXE) announced plans to release its fourth quarter 2021 financial results on March 10, 2022, after market close. A live conference call will follow on March 11, 2022, at 10:00 a.m. ET. This release accompanies a change in the company's fiscal year-end to December 31, standardizing its reporting cycle. As a result, the fiscal year 2021 will span 11 months, ending December 31, 2021. The Annual Report on Form 10-K will cover this transition period.