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Sep 30, 2023
KLX Energy Services Q3 2023 Earnings Report
KLX Energy Services reported flat sequential margins and strong operating cash flow, despite a decline in rig count.
Key Takeaways
KLX Energy Services Holdings, Inc. reported third quarter 2023 financial results with revenue of $221 million and net income of $8 million. The company's adjusted EBITDA was $37 million, and it ended the quarter with a cash balance of $90 million.
Revenue of $221 million.
Net income of $8 million, net income margin of 3%, diluted earnings per share of $0.47.
Adjusted EBITDA of $37 million.
Cash balance of $90 million, increased $8 million sequentially and $49 million compared to Q3 2022.
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
The company anticipates fourth quarter margins will hold up well despite weaker seasonal activity and operator budget exhaustion typical of the fourth quarter. As a result, they expect strong full year 2023 adjusted EBITDA between $140 million to $150 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income