HOUSTON— KLX Energy Services Holdings, Inc. (NASDAQ:) recently disclosed a stock transaction involving Lehner Keefer McGovern, the company’s Executive Vice President and Chief Financial Officer. According to a filing with the Securities and Exchange Commission, McGovern sold 1,000 shares of KLX Energy’s common stock on December 26, 2024. The shares were sold at a weighted average price of $4.48, resulting in a total transaction value of $4,480. The sale comes as the stock has experienced significant volatility, with InvestingPro data showing a 61% decline over the past year and trading near its 52-week low of $4.18.
This transaction was executed under a pre-established Rule 10b5-1 trading plan, which McGovern adopted on September 26, 2024, for tax and estate planning purposes. Following this sale, McGovern holds 90,988 shares of KLX Energy Services. According to InvestingPro analysis, the company currently shows signs of being overvalued, with challenging fundamentals including negative earnings per share of -$2.94 and a high Price/Book multiple.
KLX Energy Services, headquartered in Houston, provides oil and gas field services. The company continues to navigate the complexities of the energy sector, with its executive team actively managing their stock portfolios. With annual revenue of $738 million and an EBITDA of $80.2 million, the company faces ongoing challenges. Get deeper insights into KLXE’s financial health and access 7 additional exclusive ProTips with a subscription to InvestingPro.
In other recent news, KLX Energy Services has reported a robust third-quarter performance, with revenues reaching $189 million and adjusted EBITDA at $28 million, surpassing previous expectations and achieving a 15% adjusted EBITDA margin. These results come despite a challenging market environment and declines in U.S. land rigs and active track spreads. The company’s geographical revenue distribution was balanced, with the Southwest and Rockies each contributing 36%, and the Northeast Mid-Con at 28%.
KLX Energy Services also highlighted its strategic positioning and optimistic outlook for the upcoming years, focusing on operational efficiency and growth in LNG exports and demand. For the fourth quarter, a projected revenue decline of 10% to 14% is expected due to seasonal factors, with adjusted EBITDA margins between 9% and 13%. However, positive revenue growth of 5% to 10% is anticipated for 2025, driven by increases in LNG export and data center demand.
These are part of the recent developments for KLX Energy Services, which also includes the launch of proprietary technology and the successful realignment of its customer base and upgrading of its asset fleet. The company remains open to equity-based partnerships that offer strategic fit and synergy value, reflecting its commitment to operational excellence and safety.
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