Loading...
•
Oct 31, 2021
KLX Energy Services Q3 2021 Earnings Report
KLX Energy Services reported an increase in revenue and a reduced net loss for Q3 2021.
Key Takeaways
KLX Energy Services Holdings, Inc. reported a 24.2% sequential increase in revenue, reaching $139.0 million in Q3 2021. The net loss improved by 24.8% to $18.8 million, and Adjusted EBITDA increased significantly to $5.0 million. The company's cash balance also saw a slight increase to $40.8 million.
Revenue for Q3 2021 was $139.0 million, a 24.2% sequential increase.
Net loss for Q3 2021 improved to $18.8 million, compared to $25.0 million in the previous quarter.
Adjusted EBITDA for Q3 2021 was $5.0 million, a significant increase from $0.6 million in the prior quarter.
Cash balance at the end of Q3 2021 was $40.8 million, up from the previous quarter.
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
KLXE anticipates continued positive results driven by improved pricing and activity, projecting pro forma calendar fourth quarter revenue between $140 million and $145 million, representing a sequential increase of approximately 9% to 13% compared to the calendar third quarter.
Positive Outlook
- Improved pricing expected to continue driving positive results.
- Activity levels are expected to support continued growth.
- Pro forma calendar fourth quarter revenue is projected between $140 million and $145 million.
- Sequential revenue increase of approximately 9% to 13% is anticipated.
- Market conditions are believed to remain constructive for KLXE.
Challenges Ahead
- Recent headwinds may impact future performance.
- Unspecified risks, contingencies and uncertainties could affect actual results.
- Cyclical nature and volatility of the oil and gas industry.
- Potential decline or volatility of crude oil and gas commodity prices.
- Risks associated with decline in demand for services.
Revenue & Expenses
Visualization of income flow from segment revenue to net income