KLX ENERGY SERVICES Reports Earnings Results for Fiscal Year 2023 Q2
August 26, 2023
☀️Earnings Overview
KLX ($NASDAQ:KLXE) Energy Services reported their financial results for the second quarter of 2023 on August 9th. With a total revenue of USD 234.0 million, there was a 26.9% increase from the same quarter in 2022; net income rose considerably from -7.5 million to USD 11.4 million.
Price History
On Wednesday, KLX ENERGY SERVICES (KLXE) reported its earnings results for the second quarter of fiscal year 2023. The company’s stock opened at $11.7 and closed at $11.9, an increase of 3.1% from its previous closing price of 11.5. This marked the company’s best quarterly performance since the fourth quarter of fiscal year 2022. This positive news has been welcomed by investors and the stock price has increased accordingly.
Overall, KLX ENERGY SERVICES has reported a strong quarterly performance with impressive growth in both revenue and net income, and a generous dividend for shareholders. This has resulted in an increase in stock price and investor confidence in the company’s prospects going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for KLXE. More…
| Total Revenues | Net Income | Net Margin |
| 918.5 | 45.1 | 4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for KLXE. More…
| Operations | Investing | Financing |
| 81.7 | -28.5 | -2.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for KLXE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 526.5 | 486.8 | 2.42 |
Key Ratios Snapshot
Some of the financial key ratios for KLXE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.7% | 70.4% | 8.8% |
| FCF Margin | ROE | ROA |
| 3.6% | 150.9% | 9.6% |
Analysis
GoodWhale has conducted an analysis of KLX ENERGY SERVICES’s financials and based on Star Chart, its overall financial position can be described as strong in asset, growth, medium in profitability and weak in dividend. The company has an intermediate health score of 4/10 with regard to its cashflows and debt, indicating that it is likely to pay off debt and fund future operations. KLX ENERGY SERVICES has been classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are looking for higher growth opportunities may be interested in investing in this company, however, they should also be aware of the higher risk associated with investing in such a company. More…
Peers
KLX Energy Services Holdings Inc is in a highly competitive environment with several other leading energy services companies. These companies include SM Energy Co, Natural Gas Services Group Inc, and CSI Compressco LP, all of which are vying for market share in the oil and gas services business. With the ongoing technological developments and changing economic conditions, these companies must remain agile and competitive to remain successful.
– SM Energy Co ($NYSE:SM)
SM Energy Co is an independent energy company engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. As of 2023, the company has a market cap of 3.51 billion dollars and a Return on Equity (ROE) of 31.83%. The market cap reflects the total value of SM Energy Co’s assets and liabilities and is an indication of the company’s size and its ability to generate returns for its shareholders. The company’s ROE measures the efficiency of management in turning shareholder investments into profits, which is an important metric for investors. SM Energy Co’s ROE suggests that the company is effectively managing investor capital and delivering significant returns to shareholders.
– Natural Gas Services Group Inc ($NYSE:NGS)
Gas Services Group Inc is a US-based energy services provider. The company specializes in providing natural gas, oil, and electric services to residential, commercial, and industrial customers. As of 2023, the company has a market cap of 131.45M, making it one of the larger publicly traded energy services companies in the US. Its Return on Equity (ROE) of -1.96% indicates that it is not providing an adequate return on the investments its shareholders have made. This suggests that the company needs to better manage its investments in order to improve its profits and increase shareholder value.
– CSI Compressco LP ($NASDAQ:CCLP)
CSI Compressco LP is an American provider of compression services and equipment for natural gas and oil production, gathering, transportation, storage, and processing. The company is headquartered in Plano, Texas and has a market cap of 197.73M as of 2023. Its Return on Equity is -90.55%, which is a negative sign when it comes to the company’s financial performance. This indicates that the company is not generating enough profits from its equity investments and that its management team needs to focus on improving the efficiency of its operations. Additionally, the current market cap is relatively small compared to other companies in the industry, suggesting that there is still room for CSI Compressco LP to grow.
Summary
KLX Energy Services reported strong financial results for FY2023 Q2 on August 9, 2023, with total revenue increasing by 26.9% from the same period last year and net income up significantly from -7.5 million to 11.4 million. Investors were pleased with the performance, evidenced by a positive stock price movement the same day. Going forward, investors should continue to monitor KLX Energy Services’ financial performance, in particular their total revenue growth rate and net income margin, as key indicators of their future success.
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