NASDAQ$KLXE
KLX Energy Services Holdings Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported financial results for the third quarter ended September 30, 2024.
KLX Energy Services Holdings, Inc. reported revenue of $189 million for the third quarter of 2024. The company faced continued market volatility and customer consolidation, but still generated the third-highest level of quarterly revenue per average US-operated land rig since the KLX-QES merger in 2020. Net loss for the quarter was $(8) million, with an adjusted EBITDA of $28 million.
- Revenue for the third quarter of 2024 totaled $189 million.
- Net loss for the third quarter of 2024 was $(8) million, with a diluted loss per share of $(0.51).
- Adjusted EBITDA for the third quarter of 2024 was $28 million.
- The company's cash balance was $83 million, with total debt and net debt of $285 million and $203 million, respectively.
Headline financials
Revenue & EPS history
KLX Energy Services · Revenue · Quarterly
$189M
Revenue by segment
KLX Energy Services · $221M total across 3 segments · Q3 2023
- Southwest$77.8M+13.6%35.3%
- Rocky Mountains$77M+15.8%34.9%
- Northeast/Mid-Con$65.8M-24.0%29.8%
Forward guidance
KLX anticipates a sequential revenue decline of 10% to 14% in the fourth quarter of 2024, similar to 2023, due to seasonality, customer budget exhaustion, and the timing of holidays.
Tailwinds
- Constructive discussions with customers on 2025 drilling, completion and production programs.
- Indication of incremental positive momentum for 2025 with new and existing customers.
- Cautious optimism for 2025 budgeting.
- Leading presence in extended reach laterals.
- Leading presence in completion technologies, and production and intervention services should continue to yield differentiated performance.
Headwinds
- Seasonality
- Anticipated customer budget exhaustion
- Upcoming calendar that includes the Christmas and New Year’s holidays in the middle of the work week.
- Expect a fourth quarter 2024 sequential revenue decline of 10% to 14%, similar to 2023.
- Continued market volatility
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
-2.4%
Avg return
Earnings day
-4.2%
Avg return
5 days after
-7.0%
Avg return
30 days after
39%
13 / 33 earnings
Positive
+28.4%
Q1 2020
Best reaction
-27.4%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +10.4% | -2.3% | — | |
| Q4 2025 | -9.2% | -12.0% | +35.6% | |
| Q3 2025 | -8.3% | -11.7% | -15.7% | |
| Q1 2025 | -15.0% | -4.3% | -14.6% | |
| Q4 2024 | -6.0% | -7.8% | -54.2% | |
| Q3 2024 | -5.8% | -2.4% | +33.7% | |
| Q2 2024 | +5.6% | +5.6% | +8.0% | |
| Q1 2024 | -9.7% | -16.5% | -29.5% | |
| Q4 2023 | -1.7% | -8.9% | -19.8% | |
| Q3 2023 | -6.6% | -6.1% | -12.3% | |
| Q2 2023 | +7.5% | +2.3% | +1.0% | |
| Q1 2023 | +12.0% | +8.5% | -4.9% | |
| Q4 2022 | +7.6% | -6.6% | -15.1% | |
| Q3 2022 | -5.3% | -3.1% | -23.9% | |
| Q2 2022 | +15.0% | +10.8% | +16.1% | |
| Q1 2022 | -5.3% | -23.1% | +25.0% | |
| Q4 2021 | -8.7% | -25.8% | -45.2% | |
| Q3 2021 | -11.4% | -22.8% | +6.9% | |
| Q2 2021 | +0.5% | -11.6% | -22.0% | |
| Q1 2021 | -22.0% | -28.9% | -34.7% | |
| Q4 2020 | -26.2% | -43.0% | -13.9% | |
| Q3 2020 | +6.5% | -4.0% | -6.5% | |
| Q2 2020 | -14.8% | -15.2% | -47.2% | |
| Q1 2020 | +28.4% | +66.7% | +3.4% | |
| Q4 2019 | -27.4% | -19.0% | -37.4% | |
| Q3 2019 | +4.7% | +31.8% | +4.2% | |
| Q2 2019 | -10.3% | -6.3% | -12.0% | |
| Q1 2019 | -9.2% | -9.2% | -16.5% | |
| Q1 2017 | -5.3% | -2.0% | +5.6% | |
| Q4 2017 | -5.3% | -2.0% | +5.6% | |
| Q4 2018 | +4.4% | -0.6% | +14.0% | |
| Q3 2018 | +27.4% | +26.0% | +22.9% | |
| Q2 2018 | +5.4% | +5.6% | +18.2% |
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