KLX Energy reports Q4 EPS $1.06 vs. ($1.36) last year.

Reports Q4 revenue $223.3M vs. $221.6M last year. CEO Chris Baker stated, "During 2022, we were focused on driving price and utilization while prudently managing our cost structure on the heels of our successful 2020 merger with QES. This translated into a record year relative to other periods post-merger and immediately pre-merger, and we finished 2022 on a high note with a strong fourth quarter, overcoming typical seasonality impacts in our late Q4 calendars….I’m proud to report that we are largely trending ahead of 2019 levels for revenue and margins when viewed on a second half 2022 annualized basis. I’m also proud to report that Q4 was our highest net income since generating $13.6M of net income in Q2 2018. Additionally, we have materially improved our capitalization profile and exited 2022 with a fourth quarter annualized net leverage ratio of only 1.5x. Looking to Q1, we typically expect a natural transition in activity as operators ramp up their 2023 programs. However, the normal sequential revenue decline from the fourth quarter to the first quarter is expected to be less pronounced than prior years due to the continued tightness in the oilfield services market related to both equipment and crews. We expect Q1 revenue to be $225.0M-$230.0M and Q1 Adjusted EBITDA in the range of $30.0M-$35.0 M. For the full year, we expect our 2023 revenue and Adjusted EBITDA margin to be in the range of $925.0M-$975.0M and 16.0% to 18.0%, respectively. Full year 2023 capital spending is expected to range between $55.0M and $65.0M, representing approximately 5.9% to 6.7% of FY23 revenue guidance," concluded Baker.