ChampionX reports Q2 adjusted EPS 37c, consensus 46c

Reports Q2 revenue $893.3M, consensus $959.29M. “We continued to demonstrate the unique nature of ChampionX’s cash flow resiliency driven by the strength of our high-margin operating model and capital-light portfolio of businesses as we generated positive free cash flow for the ninth consecutive quarter. Our strong results in what is a variable environment reflects the ethos of our 7,100 ChampionX employees around the world who have an unwavering focus on delivering value-added solutions for our customers’ most important challenges. I am thankful and humbled to lead such a talented and dedicated team,” CEO Sivasankaran Somasundaram said. “We generated net income attributable to ChampionX of $53M, and we delivered adjusted EBITDA of $183M, representing a 20.5% adjusted EBITDA margin, which speaks to the operating discipline of our team”.