KLXE
KLX Energy Services Holdings, Inc.1.6400
-0.1100-6.29%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A adds basin, covenant details
Q&A drilled into Northeast/Mid-Con resilience, citing 6% QoQ rig growth and sustained completions that offset weather, boosting dry gas via broad service lines. Southwest declines tied to Permian completion tail-offs and asset rotations to Haynesville, with margins lifted by fixed-cost absorption and mix. Proactive covenant amendment holds leverage cap at 4.5x through 2027, excluding cap leases, while PIK interest hits 75% early 2026 for flexibility. Competitive color: Mid-Con simulfrac at 25-30% stages, frac basin balanced, coil tubing rationalizing toward ultra-deep tech. No prepared remarks walk-backs. Markets churn fast. Gas basins lead recovery watchlist.
Key Stats
Market Cap
29.26MP/E (TTM)
-Basic EPS (TTM)
-4.26Dividend Yield
0%Recent Filings
10-K
FY2025 results
KLX Energy Services posted FY2025 revenue of $636.6M, down 10.2% y/y amid plunging WTI prices to $57.26/bbl and an 8% rig count drop, yet Q4 activity held firmer than Q3 in completions while drilling cratered 29% annually. Operating loss widened to $30.3M from $15.5M as fixed costs deleveraged across Rocky Mountains (down 76% to $5.7M) and Southwest (to -$3.5M), though Northeast/Mid-Con eked out $3.6M gain. Debt stands at $258.3M with $56.3M liquidity; capex fell to $49.1M. No annual guidance issued. Volatility in oil prices threatens demand.
8-K
Q4 EBITDA peaks despite revenue dip
KLX Energy Services reported Q4 2025 revenue of $157M, down 5.9% sequentially yet lifting Adjusted EBITDA to $23M with 14% margin—its strongest quarter. Northeast/Mid-Con shone, revenue flat at $60M while margins expanded on gas demand. But full-year net loss hit $77M amid revenue drop to $637M. Indenture amendment on March 6 granted covenant relief; warrants issued to noteholders.
8-K
CFO resigns; internal interim named
KLX Energy Services CFO Keefer M. Lehner resigned voluntarily, effective January 7, 2026, after notifying the company on December 8. Geoffrey C. Stanford, current Senior VP and Chief Accounting Officer since 2020, steps in as Interim CFO on the same date. No family ties or related party deals. Smooth internal handoff minimizes disruption.
8-K
Q3 revenue up 5%, EBITDA +14%
KLX Energy Services reported Q3 2025 revenue of $167MM, up 5% sequentially despite a 6% drop in US land rig count, with Adjusted EBITDA rising 14% to $21MM at 13% margin. Completions utilization and Northeast/Mid-Con gas activity offset Permian declines. Q4 revenue faces mid-single-digit drop. Net debt stands at $251MM.
10-Q
Q3 FY2025 results
KLX Energy Services posted Q3 revenues of $166.7M, down 11.8% y/y from $188.9M amid softer activity, yet gross margins held at 21.7% despite fixed cost pressure. Operating loss widened to $3.0M from $1.1M income; net loss hit $14.3M, with the $11.1M gap to operating tied to interest expense. Cash dwindled to $8.3M after $5.0M operating outflow and $39.7M capex, offset by $10.6M asset sales—free cash flow negative at $(44.7M) (derived). Debt stands at $259.2M post-March 2025 refinancing of 2025 notes with $241.7M 2030 Senior Notes (12.67% effective) and New ABL ($40.0M drawn, $56.9M available); covenants met. Northeast/Mid-Con grew 13.2% y/y. Warrants issued cheap. Debt covenants loom tight.
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