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Mar 31, 2021
ChampionX Q1 2021 Earnings Report
ChampionX reported first quarter 2021 results, demonstrating resilience amid energy market imbalances and delivering solid free cash flow.
Key Takeaways
ChampionX reported revenue of $684.9 million and net income of $5.8 million in Q1 2021. The company navigated raw material supply chain disruptions and delivered adjusted EBITDA of $94.2 million. Strong free cash flow generation continued, representing 9% of revenue.
Revenue was $684.9 million.
Net income attributable to ChampionX was $5.8 million; adjusted net income of $15.6 million.
Adjusted EBITDA was $94.2 million.
Free cash flow was $64.6 million, representing 9% of revenue.
ChampionX
ChampionX
ChampionX Revenue by Segment
Revenue by Segment
Production Chemical Tech Revenue
CapyFin.comProduction & Automation Tech Revenue
CapyFin.comDrilling Technologies Revenue
CapyFin.comReservoir Chemical Tech Revenue
CapyFin.com Forward Guidance
For the second quarter of 2021, ChampionX expects revenue to be between $700 million and $740 million, and adjusted EBITDA of $97 million to $105 million.
Positive Outlook
- Continued positive momentum in shorter-cycle North American businesses.
- Seasonal uptick in international operations.
- Meaningful margin rate improvement in the second half of the year.
- Exiting the year with a higher margin rate than the 2020 exit rate.
- Driven by production-oriented businesses.
Challenges Ahead
- Some additional short-term raw materials cost inflation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income