KLX Energy Services Q2 2021 Earnings Report
Key Takeaways
KLX Energy Services Holdings, Inc. reported a 23% sequential increase in revenue for the fiscal second quarter of 2021, exceeding guidance. The company achieved positive Adjusted EBITDA for the first time since fiscal first quarter 2020, driven by improved pricing, activity levels, and cost savings.
Fiscal second quarter 2021 revenue of $111.9 million increased $21.1 million, or 23.2%, sequentially from the fiscal first quarter 2021.
Revenue has improved every month during fiscal 2021.
Fiscal second quarter 2021 net loss was $25.0 million, decreasing 32.1% compared to $36.8 million for the fiscal first quarter 2021.
Fiscal second quarter 2021 Adjusted EBITDA of $0.6 million was positive for the first time since fiscal first quarter 2020 and increased $10.0 million sequentially from fiscal first quarter 2021.
KLX Energy Services
KLX Energy Services
KLX Energy Services Revenue by Segment
Forward Guidance
KLX Energy Services anticipates continued positive results driven by improved pricing and activity, with fiscal third quarter revenue expected to increase between 8% to 12%.
Positive Outlook
- Improved pricing expected to drive positive results.
- Activity levels expected to drive positive results.
- Fiscal third quarter revenue expected to increase between 8% to 12%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income