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 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.
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.