ChampionX sees Q1 revenue $952M-$982M, consensus $994.58M

The company said, "As we look to the first quarter, we expect typical seasonal declines in our international operations, partially offset by a rebound in our North American businesses. On a consolidated basis, in the first quarter, we expect revenue to be between $952 million and $982 million. At the guidance midpoint, our first quarter 2023 revenue represents a 12% increase year-over-year. We expect adjusted EBITDA of $164 million to $172 million. At the guidance midpoint, our first quarter 2023 adjusted EBITDA represents a 35% increase year-over-year. We are continuing to invest in talent and organizational capabilities in our emissions and digital businesses for future growth. We expect 2023 to be another year of solid growth driven by the constructive market environment, and we expect our adjusted EBITDA margin to progressively improve through the year, targeting an exit rate of 20% in the fourth quarter of this year. We expect our 2023 cash generation to be strong, converting at least 50% of our adjusted EBITDA to free cash flow, and we remain committed to returning at least 60% of our free cash flow to our shareholders during the year."