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KLX Energy Services Holdings Inc. (NASDAQ:KLXE) stock has reached a new 52-week low, trading at $3.41, as the company faces a tumultuous market environment. According to InvestingPro data, the company’s financial health score is rated as FAIR, with a concerning debt-to-capital ratio of 0.85. This latest price point underscores a significant downturn for the energy services provider, which has seen its stock value decrease by 54.01% over the past year. With a market capitalization of just $60.56 million and revenue declining by 20.16% over the last twelve months, investors are closely monitoring KLXE as it navigates through industry headwinds. InvestingPro analysis reveals 8 additional key insights about KLXE’s financial position and future prospects, available in the comprehensive Pro Research Report.
In other recent news, KLX Energy Services Holdings Inc. reported its financial results for the fourth quarter of 2024, revealing a revenue shortfall despite meeting earnings per share (EPS) expectations. The company reported a revenue of $165.5 million, falling short of the forecasted $173.65 million, while EPS aligned with predictions at -0.8. KLX Energy also expanded its stock offering program by $25 million, increasing the potential offering size to approximately $57.75 million. This amendment was detailed in a recent SEC Form 8-K filing. Additionally, S&P Global Ratings upgraded the credit rating of KLX Energy Services to ’CCC+’ from ’ CCC (WA:CCCP)’, citing the company’s recent debt management actions, including a new senior secured note offering and an asset-based lending facility to refinance upcoming debt maturities.
S&P Global Ratings later withdrew all ratings on KLX at the company’s request. Despite the earnings miss, the company maintained its EPS forecast, indicating some stability in its earnings performance. KLX Energy’s board approved the increase in the ATM program, reflecting a strategic move to potentially raise additional capital. The refinancing efforts have extended the company’s debt maturities, providing financial stability through 2028. These developments represent KLX’s strategic steps to manage financial challenges and leverage capital opportunities.
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