Klx energy services executive sells $5,020 in stock

HOUSTON—Lehner Keefer McGovern, Executive Vice President and Chief Financial Officer of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE), recently sold 1,000 shares of the company's common stock. The sale, conducted on December 30, 2024, was part of a pre-established Rule 10b5-1 trading plan for tax and estate planning purposes. The transaction comes as InvestingPro data shows KLXE's stock has experienced significant volatility, with shares down over 55% in the past year.

The shares were sold at a weighted average price of $5.02, with individual transaction prices ranging from $5.00 to $5.05. Following the sale, McGovern retains ownership of 89,988 shares. According to InvestingPro analysis, KLXE is currently trading near its Fair Value, with a market capitalization of approximately $90 million and an EBITDA of $80.2 million for the last twelve months.

KLX Energy Services, headquartered in Houston, provides oil and gas field services. The sale was disclosed in a Form 4 filing with the Securities and Exchange Commission. The company's financial health score is rated as "FAIR" by InvestingPro, which offers additional insights through its comprehensive Pro Research Report, available for over 1,400 US stocks.

In other recent news, KLX Energy Services Holdings, Inc. reported strong Q3 earnings amid a challenging market environment. The company reported $189 million in revenue and $28 million in adjusted EBITDA, surpassing expectations with a 15% adjusted EBITDA margin. Despite a decrease in U.S. land rigs and active track spreads, KLX maintained high revenue per operated rig and ended the quarter with significant cash and liquidity.

Looking ahead, KLX anticipates a sequential revenue decline of 10% to 14% in Q4 due to seasonal factors. However, management remains optimistic for 2025, projecting a revenue increase of 5% to 10% driven by growth in LNG exports and natural gas demand from data centers. The company also plans to normalize capital expenditures to $5 million to $10 million in Q4.

These are recent developments in the company's performance and outlook. Analysts from various firms have noted KLX's strategic positioning and operational efficiency, despite the company facing seven consecutive quarters of declines in market share. KLX continues to explore refinancing options and is open to equity-based partnerships that offer strategic fit and synergy value.

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