The following is a summary of the KLX Energy Services Holdings, Inc. (KLXE) Q4 2023 Earnings Call Transcript:

Financial Performance:

• KLX Energy Services recorded a record annual revenue of $888 million and an adjusted EBITDA of $138 million in 2023, marking a 14% and 42% YoY growth respectively.

• Q4 revenue was reported at $194 million, a 12% sequential decrease, with adjusted EBITDA of $23 million.

• The company posted a net loss of $9 million in Q4 but a net income of $19 million for the year and $1.22 per diluted share.

• KLXE had a year-end cash balance of $113 million, up 25% from Q3 and 96% YoY, along with reducing net debt by 11% sequentially.

• The net leverage ratio at the end of 2023 was the lowest at 1.2x since 2018.

Business Progress:

• KLX commercialized several proprietary offerings, notably the PhantM Dissolvable Plug and the Oracle Smart Reach ERT, improving its service able to attract rapid customer adoption.

• The accretive acquisitions of Greene's Energy Group were successfully implemented, improving the scale of its operations.

• KLX is primed to take advantage of the projected increase in demand for natural gas and client consolidation trends in 2024.

• The company plans to continue monitoring opportunities for refinancing its senior secured notes and ABL throughout 2024.

• KLX is set to maintain capital management focused on optimizing free cash flow and keeping a strong balance sheet while actively looking for growth and M&A opportunities that would enhance value for shareholders.

More details: Klx Energy Services IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.