KLX Energy rises as Q1 revenue, 2023 forecast beat estimates

KLX Energy Services Holdings

11/05/2023 14:33

** Shares of oilfield services firm KLX Energy Services
Holdings Inc  KLXE.O  rise 19% at $10.60
    ** KLXE reports Q1 revenue of $239.6 mln vs estimate of
$227.3 mln - Refinitiv data
    ** Increase in revenue reflects the increase in activity and
pricing across all geographic segments and product service lines
- KLXE
    ** Co sees 2023 revenue between $975 mln and $1.04 bln, with
midpoint falling above analysts' estimate of $989 mln
    ** "As we look out to full year 2023, we will continue to
proactively deploy our portfolio of assets to maximize our
results in the face of market volatility and basin rotation with
a focus on generating meaningful free cash flow," says CEO Chris
Baker
    ** Up to Wednesday's close, stock had fallen 48% YTD

 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))