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KLXE Nasdaq· KLX Energy Services Holdings Inc.
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KLXE Nasdaq· KLX Energy Services Holdings Inc.
Earnings report Q3 2023

KLXE Energy Services Reports Stable Revenue in Latest Quarter

Segments of revenue

KLXE Energy Services reported revenues of $220.6 million for the three months ended September 30, 2023, which remained relatively stable compared to the same period last year. The company's revenue for the nine months ended September 30, 2023, was $694.2 million, showing a significant increase from $558.3 million in the same period last year.

Strengths

Despite the challenging market conditions, KLXE Energy Services has managed to maintain stable revenue in the latest quarter. The company's ability to provide a comprehensive suite of engineered solutions for its diverse customer base has contributed to its revenue growth. Additionally, KLXE Energy Services implemented price increases across all regions to offset higher costs, which has positively impacted its revenue, operating margins, cash flows, and Adjusted EBITDA.

Challenges

KLXE Energy Services faces challenges in attracting and retaining employees in the field, especially as it plans for continued growth. The company has experienced increased costs, which have necessitated price increases with customers. These challenges may impact the company's profitability and overall financial performance.

Noteworthy

KLXE Energy Services completed the integration of Greene's Energy Group, LLC, which it acquired in an all-stock transaction. The integration resulted in approximately $3.0 million in annual cost synergies for the company. KLXE Energy Services also plans to pursue strategic acquisitions to further strengthen its competitive positioning, drive efficiencies, accelerate growth, and create long-term shareholder value.

Summary

KLXE Energy Services reported stable revenue of $220.6 million for the three months ended September 30, 2023. The company's ability to provide a comprehensive suite of engineered solutions and implement price increases has positively impacted its revenue, operating margins, cash flows, and Adjusted EBITDA. However, challenges in attracting and retaining employees and increased costs pose potential weaknesses for the company. KLXE Energy Services completed the integration of an acquired company and plans to pursue strategic acquisitions for further growth and value creation.

Source documents

Form 10-Q  filed on Nov 07, 2023
17 pages scanned

Reference data

Company financials Q3 revenue 194M
Analyst estimates Q3 EPS missed by -∞%
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