HOUSTON—Lehner Keefer McGovern, the Executive Vice President and Chief Financial Officer of KLX Energy Services Holdings, Inc. (NASDAQ:KLXE), recently sold 2,500 shares of the company's common stock. The transaction, executed on January 16, 2025, was conducted at a weighted average price of $6.67 per share, amounting to a total sale value of $16,675. The sale comes as KLXE, a small-cap energy services provider with a market capitalization of $118 million, has seen its stock surge 33% year-to-date. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
Following the sale, McGovern retains ownership of 87,488 shares in the company. The transaction was carried out under a Rule 10b5-1 trading plan, which McGovern adopted on September 26, 2024, for tax and estate planning purposes. The shares were sold at prices ranging from $6.00 to $7.25. InvestingPro data reveals the company's volatile trading pattern and unprofitable status over the last twelve months. Subscribers can access 6 additional ProTips and a comprehensive Pro Research Report for deeper insights into KLXE's financial health and valuation metrics.
In other recent news, KLX Energy Services Holdings, Inc. reported a strong third-quarter performance, logging $189 million in revenue and $28 million in adjusted EBITDA. This resulted in a 15% adjusted EBITDA margin, surpassing previous forecasts, despite a challenging market environment and declines in U.S. land rigs and active track spreads. The company also indicated a balanced geographical revenue distribution, with the Southwest and Rockies each contributing 36%, and the Northeast Mid-con at 28%.
Furthermore, KLX Energy Services anticipates a 10% to 14% sequential revenue decline in Q4 2023 due to seasonal factors, but remains optimistic for 2025, expecting a revenue increase of 5% to 10%. This optimism is fueled by anticipated growth in LNG exports and natural gas demand from data centers.
However, KLX has also acknowledged some challenges, including seven consecutive quarters of declines in market share and high-quality M&A deals falling through due to bid-ask spread issues. Despite these obstacles, the company is committed to maintaining operational excellence and safety to reinforce its competitive edge. These are the recent developments for KLX Energy Services.
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