KLX Energy Services Q2 2024 Earnings Report
Key Takeaways
KLX Energy Services Holdings, Inc. reported a 3.1% sequential increase in revenue to $180.2 million. Adjusted EBITDA improved by 125% to $27.0 million, and Adjusted EBITDA margin grew to 15.0%. The company enacted approximately $16 million of annualized cost reductions and experienced a rebound in higher-margin production and intervention activity.
Revenue increased 3.1% sequentially to $180.2 million.
Adjusted EBITDA improved sequentially by 125% to $27.0 million.
Adjusted EBITDA margin grew 118% to 15.0%.
Enacted approximately $16 million of annualized cost reductions.
KLX Energy Services
KLX Energy Services
KLX Energy Services Revenue by Segment
Forward Guidance
KLX reaffirms its third quarter 2024 guidance for revenue to be flat to slightly up relative to the second quarter, with similar Adjusted EBITDA margins to the second quarter.
Positive Outlook
- Third quarter 2024 revenue expected to be flat to slightly up relative to the second quarter.
- Third quarter 2024 Adjusted EBITDA margins expected to be similar to the second quarter.
- Leading presence in extended reach laterals.
- Leading presence in completion technologies.
- Leading presence in production and intervention services.
Revenue & Expenses
Visualization of income flow from segment revenue to net income