KLX Energy Services Q3 2021 Earnings Report
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
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