KLX Energy reports Q4 EPS (58c), consensus 1c

Reports Q4 revenue $194M, consensus $212.97M. CEO Chris Baker stated, “2023 was a record year on numerous fronts marked by outstanding operational performance, financial successes, post-COVID record HSE statistics and significant strategic advancements, including the commercialization of multiple proprietary offerings and the acquisition of Greene’s Energy Group. As we look forward to 2024, we currently expect our Q1 results to be negatively impacted by normalized seasonality, the Polar Vortex in January and safety standdowns for two separate customers due to non-KLX safety incidents. Based on our current schedules, we expect to exit Q1 on a strong monthly run-rate and to approach 2023 levels of quarterly revenue and Adjusted EBITDA in Q2 and beyond. We believe KLX, and the oilfield services industry in general, is positioned exceptionally well as we move further into 2024…”