Brief: KLX Energy Services Reports Q4 Adjusted Loss Per Share $0.56

KLX Energy Services Holdings

09/03/2020 10:44

March 9 (Reuters) - KLX Energy Services Holdings Inc
 KLXE.O :
    * KLX ENERGY SERVICES REPORTS FINANCIAL RESULTS FOR THE
FOURTH
QUARTER AND FULL YEAR ENDED JANUARY 31, 2020
    * Q4 ADJUSTED LOSS PER SHARE $0.56
    * Q4 REVENUE FELL 26.5 PERCENT TO $98.8 MILLION
    * Q4 LOSS PER SHARE $1.09 INCLUDING ITEMS
    * KLX ENERGY SERVICES HOLDINGS - EXPECTING AN INCREASE IN
REVENUES
AND IMPROVED FINANCIAL PERFORMANCE IN OUR Q1 ENDING APRIL 30,
2020 AS COMPARED TO OUR Q4 ENDED JANUARY 31, 2020
    * OILFIELD SERVICES INDUSTRY EXPERIENCED AN ABRUPT
DETERIORATION
IN DEMAND DURING SECOND HALF OF 2019.
    * EXPECT TO HAVE ALL 13 OF OUR LARGE DIAMETER COILED TUBING
SPREADS IN OPERATION BY END OF Q1 OF 2020
    * KLX ENERGY - OIL & GAS DEMAND DESTRUCTION BEING CAUSED BY
CORONAVIRUS COULD CAUSE FURTHER DETERIORATION IN E&P
SPENDING,INVESTMENT IN COMING MONTHS
    * KLX ENERGY SERVICES HOLDINGS - COILED TUBING START-UP
COSTS
RELATED TO DEPLOYMENT OF NEW SPREADS EXPECTED TO BE A DRAG ON Q1
EARNINGS
    * KLX ENERGY SERVICES HOLDINGS - EXPECT TO HAVE ALL 13 OF
LARGE
DIAMETER COILED TUBING SPREADS IN OPERATION BY END OF Q1 2020

Source text for Eikon:  ID:nGNX5d8TYr 
Further company coverage:  KLXE.O 

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