KLX Energy Services Q1 2023 Earnings Report
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
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