Published on 10 May 2024 on GuruFocus.com via Yahoo Finance
KLX Energy Services Holdings Inc (KLXE) Q1 2024 Earnings: Misses Revenue and EPS Projections ...
Revenue: Reported at $174.7 million for Q1 2024, marking a decrease from Q4 2023's $194.2 million, and fell short of the estimated $181.8 million.Net Loss: Deepened to $(22.2) million in Q1 2024 from $(9.2) million in Q4 2023, significantly above the estimated net loss of $(6.13) million.Earnings Per Share (EPS): Recorded a diluted loss per share of $(1.38), underperforming against the estimated $(0.61).Adjusted EBITDA: Amounted to $12 million in Q1 2024, a decrease from $23 million in Q4 2023, with an Adjusted EBITDA margin of 6.9%.Liquidity: Total liquidity stood at $128 million, comprising approximately $85 million in cash and about $43 million in available borrowing capacity.Operational Highlights: Achieved a new US coiled tubing depth record of 28,915 feet, demonstrating industry-leading performance in extended-reach completions.Future Outlook: Anticipates Q2 2024 revenue between $180 million to $200 million and an adjusted EBITDA margin of 9% to 11%.
Warning! GuruFocus has detected 2 Warning Signs with KLXE.