KLX Energy Services Q1 revenue falls on weather, customer delays; sees growth in Q2

KLX Energy Services Holdings

12/05/2026 21:27

Overview

U.S. oilfield services provider's Q1 revenue declined 6% yr/yr amid weather and customer delays

Adjusted EBITDA for Q1 fell to $11.1 mln, with net loss widening to $23 mln

Company expects Q2 revenue to increase in all segments, forecasting a 5% yr/yr rise

Outlook

KLX forecasts Q2 2026 revenue of $162 mln to $172 mln, midpoint $167 mln, for 5% increase

Company expects revenue to increase in all three segments and nearly every service line in Q2

KLX expects Adjusted EBITDA margin to expand sequentially, driven by higher activity and better overhead absorption

Result Drivers

WEATHER AND CUSTOMER DELAYS - Co said winter storm Fern and customer delays in late March pushed over $5 mln of revenue into Q2

REGIONAL ACTIVITY VARIATION - Lower activity in Rocky Mountains and Southwest segments drove revenue declines, while Northeast/Mid-Con saw increased gas-focused activity

INCREASED OPERATING COSTS - Higher operating costs in the Southwest segment contributed to lower profitability

Company press release: ID:nPn2bGjZha

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$144.7 mln
$146.50 mln (1 Analyst)
Q1 EPS
-$1.23
Q1 Adjusted Net Income
Miss
-$23 mln
-$20.90 mln (1 Analyst)
Q1 Net Income
-$24 mln
Q1 Adjusted EBITDA
Miss
$11.10 mln
$11.80 mln (1 Analyst)
Q1 Adjusted EBITDA Margin
8.00%


Analyst Coverage

Wall Street's median 12-month price target for KLX Energy Services Holdings Inc is $4.00, about 9.6% above its May 11 closing price of $3.65

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)