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Mar 31, 2023
KLX Energy Services Q1 2023 Earnings Report
Reported record results, overcoming seasonal pressures and exceeding expectations and guidance across all metrics.
Key Takeaways
KLX Energy Services Holdings, Inc. reported a record first quarter in 2023. Revenue reached $239.6 million, a 7% sequential increase. Net income was $9.4 million, with a diluted EPS of $0.65. Adjusted EBITDA stood at $38.2 million, a 2% sequential increase. The company also completed the acquisition of Greene’s Energy Group, LLC on March 8, 2023.
Revenue of $239.6 million, increased 7% sequentially.
Net income of $9.4 million, net income margin of 3.9% and diluted earnings per share of $0.65.
Adjusted EBITDA of $38.2 million, increased 2% sequentially.
Ended the quarter with $84.0 million of available liquidity, consisting of $39.6 million of cash.
KLX Energy Services
KLX Energy Services
KLX Energy Services Revenue by Segment
Revenue by Segment
Rocky Mountains Revenue
CapyFin.comSouthwest Revenue
CapyFin.comNortheast/Mid-Con Revenue
CapyFin.com Forward Guidance
The Company reaffirms full year 2023 guidance.
Positive Outlook
- Second quarter 2023 revenue of $240 to $250 million
- Second quarter 2023 Adjusted EBITDA margin of 16% to 17%
- Full year 2023 revenue range of $975 million to $1.04 billion
- Full year 2023 Adjusted EBITDA margin of 17% to 19%
- Full year 2023 capital spending of $60 to $70 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income