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Dec 31, 2021
KLX Energy Services Q4 2021 Earnings Report
KLXE reported strong pro forma fourth quarter with revenue and adjusted EBITDA gains.
Key Takeaways
KLX Energy Services reported a pro forma revenue of $145.0 million for Q4 2021, a 13% increase compared to the previous quarter. Adjusted EBITDA for the quarter was $6.7 million, a 63% increase sequentially.
Pro Forma Fourth Quarter Revenue was $145.0 million, a 13% increase relative to Pro Forma Third Quarter.
Adjusted EBITDA for the Pro Forma Fourth Quarter was $6.7 million, a 63% increase relative to Adjusted EBITDA for the Pro Forma Third Quarter.
Ended 2021 with $28.0 million in cash.
Total liquidity as of December 31, 2021 was $70.4 million.
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 improvements in activity and expects net pricing improvements to accelerate throughout 2022, with a full year revenue increase of 35% to 45% relative to the Pro Forma Fiscal Year ended December 31, 2021.
Positive Outlook
- Optimistic about continued improvements in activity in 2022.
- Expect net pricing improvements to accelerate as we progress through 2022.
- KLXE is well-positioned to benefit from the expanding drilling and completions market.
- Anticipated pent-up demand for intervention services.
- Expect steady improvement throughout the year.
Challenges Ahead
- Market activity got off to a slow start in early 2022, partially due to the Omicron variant.
- Staying ahead of inflationary cost pressures will remain a critical priority in 2022.
- Supply chain issues will remain a critical priority in 2022.
- COVID-19 pandemic
- Declining commodity prices
Revenue & Expenses
Visualization of income flow from segment revenue to net income