The call presented a balanced picture: KLX Energy Services reported stronger profitability and operational efficiency in Q4, with notable gas‑led growth, disciplined capex, improved cash flow, and proactive covenant management. However, the company faces near‑term headwinds from seasonality, regional revenue declines (Rockies and Southwest), leverage and covenant sensitivity that required an indenture amendment, and ongoing geopolitical uncertainty that could affect demand. Overall, positives around margin expansion, cash generation, and strategic positioning are tempered by liquidity/leverage considerations and short‑term activity weakness.

Company Guidance

Management guided 2026 as “constructive but measured,” forecasting Q1 revenue of $145–150 million (down ~3% versus 2025 despite an ~8% rig count decline) and Q2 revenue of $160–170 million, with the full-year budget contemplated as broadly flat to slightly up vs. 2025 and most improvement weighted to the back half of the year; they expect Q1 to be the low point and cited Winter Storm Firm cost ~4–5 lost revenue days. Capital guidance calls for gross CapEx of ≈$40 million (down from $49 million in 2025) and net CapEx of $30–35 million (2025 net CapEx ≈$33 million), with the vast majority maintenance-oriented. On liquidity and leverage, year-end available liquidity was ≈$56 million, total debt ≈$258.3 million, and net leverage 4.07x (covenant 4.5x); management amended the indenture to keep the 4.5x covenant through 03/31/2027 and to exclude capital leases from the leverage calculation, and noted coil lease roll-offs that will eliminate ≈$8.2 million of annual lease payments beginning in 2027.

Strong Q4 Profitability

Q4 revenue ~$157M (in line with guidance) with adjusted EBITDA of ~$23M, the highest quarterly adjusted EBITDA in 2025, and an adjusted EBITDA margin of ~14%, also a 2025 high.

Northeast/Mid‑Con Outperformance

Northeast/Mid‑Con revenue of $69.6M was essentially flat sequentially (+0.5%) while delivering a 25.3% adjusted EBITDA margin and $15.1M of adjusted EBITDA, driven by gas‑directed activity.

Dry Gas Revenue Growth

Dry gas revenue in the Northeast/Mid‑Con increased 5.3% quarter‑over‑quarter and 44% year‑over‑year (2025 vs 2024), reflecting a growing gas‑levered share of the portfolio.

Efficiency and Productivity Metrics

Q4 revenue per rig was approximately $297,000 (second‑highest quarter of 2025) and the company delivered >$40,000 of EBITDA per rig for the second time in 2025; revenue per headcount remained healthy.

Cost Discipline and Headcount Reduction

Management continued corporate cost optimization and rightsizing: corporate adjusted EBITDA loss improved to ~$6.3M in Q4 from $6.6M in Q3; total headcount declined ~12% average Q4 2025 vs Q4 2024.

Improved Cash Flow and Capital Discipline

Q4 cash provided by operating activities was $13M and unlevered free cash flow was $15M (a 43% increase over Q3). Net CapEx for 2025 was ~$33M; 2026 net CapEx guidance is $30M–$35M (predominantly maintenance).

Stable Balance Sheet Movements and Liquidity

Total debt at year‑end was $258.3M (slightly down from $259.2M in Q3) with available liquidity of ~ $56M (~$50M ABL availability and ~$6M cash). Management amended indenture proactively to provide covenant cushion.

Constructive 2026 Outlook and Market Positioning

Management expects 2026 revenues broadly flat to slightly up vs 2025 with improvement weighted to H2; Q1 guide $145M–$150M and Q2 guide $160M–$170M. Company emphasized positioning to benefit from industry consolidation and gas‑directed basin momentum.

KLX Energy Services Holdings (KLXE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KLXE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 07, 2026	2026 (Q1)	-1.27 / -	-1.27	―	―	―
Mar 11, 2026	2025 (Q4)	-0.80 / -0.76	-0.8	5.00% (+0.04)	―
Nov 05, 2025	2025 (Q3)	-0.72 / -0.73	-0.4	-82.50% (-0.33)	―
Aug 06, 2025	2025 (Q2)	-11.60 / -0.88	-0.4	-120.00% (-0.48)	―
May 08, 2025	2025 (Q1)	-0.86 / -1.27	-1.24	-2.42% (-0.03)	―
Mar 12, 2025	2024 (Q4)	-0.67 / -0.80	-0.54	-48.15% (-0.26)	―
Oct 31, 2024	2024 (Q3)	-0.47 / -0.40	0.47	-185.11% (-0.87)	―
Aug 07, 2024	2024 (Q2)	-0.76 / -0.40	0.71	-156.34% (-1.11)	―
May 07, 2024	2024 (Q1)	-0.61 / -1.24	0.65	-290.77% (-1.89)	―
Mar 06, 2024	2023 (Q4)	<0.01 / -0.54	1.06	-150.94% (-1.60)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

KLXE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 11, 2026	$2.95	$2.67	-9.49%
Nov 05, 2025	$1.74	$1.85	+6.32%
Aug 06, 2025	$1.62	$1.53	-5.56%
May 08, 2025	$2.33	$1.93	-17.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does KLX Energy Services Holdings Inc (KLXE) report earnings?

KLX Energy Services Holdings Inc (KLXE) is schdueled to report earning on May 07, 2026, Before Open (Confirmed).

What is KLX Energy Services Holdings Inc (KLXE) earnings time?

KLX Energy Services Holdings Inc (KLXE) earnings time is at May 07, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is KLXE EPS forecast?

KLXE EPS forecast for the fiscal quarter 2026 (Q1) is -1.27.