KLX Energy reports Q1 EPS ($1.38), consensus (61c)

Reports Q1 revenue $175M, consensus $181.8M. Chris Baker, KLX President and Chief Executive Officer, stated, “Our first quarter performance was marked by both expected and unexpected challenges. As we discussed on our recent 2023 fourth quarter conference call, our Rockies, Mid-Con, and Permian operations were impacted in January by the extreme weather conditions caused by the polar vortex as well as activity delays due to operator-initiated safety standdowns in the Rockies leading to white space and unabsorbed costs. Early first quarter performance was also affected by outsized white space on our calendars at the beginning of the year as operators finalized budgets leading to a slower start in our completion and production services product service lines.”