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 (NASDAQ: KLXE) reported Q1 fiscal results for the period ending April 30, 2020, with revenues of $83.0 million, reflecting a 16% decline from the previous quarter due to COVID-19 and oil market disruptions. The company faced a net loss of $243.1 million, impacted by a $208.7 million asset impairment charge. Despite challenges, adjusted gross margin increased by 420 basis points to 18.9%. KLXE emphasized ongoing cost reductions, targeting $30 million in annual savings, and an all-stock merger with Quintana Energy Services is expected to finalize in H2 2020.
KLX Energy Services will release its financial results for Q1 ended April 30, 2020, before the NASDAQ market opens on June 4, 2020. A conference call to discuss these results is scheduled for 9:00 AM EDT the same day. Investors can access a live audio broadcast and presentation on the company's investor relations page. KLX Energy Services is a prominent provider of oilfield services in the U.S., focusing on completion and production activities with a robust portfolio of specialized tools and 40 service facilities across major oil and gas regions.
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