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. McGovern sold 1,000 shares of KLX Energy on Dec. 26, 2024, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $4.48, resulting in a total transaction value of $4,480. The sale occurs because the stock has experienced significant volatility, with InvestingPro data showing a 61% decline over the past year and trading near a 52-week low of $4.18.
This transaction was executed pursuant to a pre-established Rule 10b5-1 trading plan, adopted by McGovern on September 26, 2024 for tax and estate planning purposes. After this sale, McGovern holds 90,988 shares of KLX Energy Services. According to InvestingPro analysis, the company is currently showing signs of being overvalued, with challenging fundamentals including negative earnings per share of -$2.94 and a high price/book multiple.
KLX Energy Services, based 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 equity portfolios. With annual revenue of $738 million and EBITDA of $80.2 million, the company faces ongoing challenges. Gain deeper insight into KLXE’s financial health and access 7 additional exclusive professional tips with a subscription to InvestingPro.
In other recent news, KLX Energy Services reported a strong third quarter, with revenues reaching $189 million and adjusted EBITDA of $28 million, beating previous expectations and achieving a 15% adjusted EBITDA margin. These results come despite a challenging market environment and a decline in US onshore rigs and active paths. The geographic distribution of the company’s revenue was balanced, with the Southwest and Stenjak contributing 36% each, and the Northeast Central region with 28%.
KLX Energy Services also highlighted its strategic positioning and optimistic outlook for the coming years, focusing on operational efficiency and LNG export and demand growth. For the fourth quarter, revenue is projected to decline 10% to 14% due to seasonal factors, with adjusted EBITDA margins between 9% and 13%. However, positive revenue growth of 5% to 10% is expected for 2025, driven by increased LNG exports and demand for data centers.
This is part of recent developments for KLX Energy Services, which also includes the launch of its own technology and the successful refocusing of its customer base and asset fleet upgrades. The company remains open to equity-based partnerships that offer strategic alignment and synergistic value, reflecting its commitment to operational excellence and safety.
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