We also make references to the three months ended
Highlights
Transition Fourth Quarter Revenue was
Transition Fourth Quarter Net Loss was
Transition Fourth Quarter ended
Revenue for the Pro Forma Fourth Quarter was
Adjusted EBITDA for the Pro Forma Fourth Quarter was
Ended 2021 with
We have not provided reconciliations of our future expectations as to Adjusted EBITDA or Adjusted EBITDA margin as such reconciliation is not available without unreasonable efforts.
'Looking ahead to 2022, we are optimistic about continued improvements in activity and expect net pricing improvements to accelerate as we progress through 2022. KLXE is well-positioned to benefit from the expanding drilling and completions market, as well as anticipated pent-up demand for intervention services. Market activity got off to a slow start in early 2022, partially due to the Omicron variant, however we still expect a modest sequential increase in revenue for Q1 2022. We will exit Q1 on strong revenue run-rate and expect steady improvement throughout the year with a full year 2022 revenue increase of 35% to 45% relative to the Pro Forma Fiscal Year ended
About
KLXE is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production companies operating in both conventional and unconventional plays in all of the active major basins throughout
Forward-Looking Statements and Cautionary Statements
The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward-looking statements to encourage companies to provide prospective information to investors. This news release (and any oral statements made regarding the subjects of this release, including on the conference call announced herein) includes forward-looking statements that reflect our current expectations and projections about our future results, performance and prospects. Forward-looking statements include all statements that are not historical in nature and are not current facts. When used in this news release (and any oral statements made regarding the subjects of this release, including on the conference call announced herein), the words 'believe,' 'expect,' 'plan,' 'intend,' 'anticipate,' 'estimate,' 'predict,' 'potential,' 'continue,' 'may,' 'might,' 'should,' 'could,' 'will' or the negative of these terms or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events with respect to, among other things: our expected cost synergies related to the 2020 acquisition of
Forward-looking statements are not assurances of future performance and actual results could differ materially from our historical experience and our present expectations or projections. These forward-looking statements are based on management's current expectations and beliefs, forecasts for our existing operations, experience, expectations and perception of historical trends, current conditions, anticipated future developments and their effect on us and other factors believed to be appropriate. Although management believes the expectations and assumptions reflected in these forward-looking statements are reasonable as and when made, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all). Our forward-looking statements involve significant risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Known material factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, risks associated with the following: a decline in demand for our services, including due to the ongoing COVID-19 pandemic, declining commodity prices, overcapacity and other competitive factors affecting our industry; the cyclical nature and volatility of the oil and gas industry, which impacts the level of exploration, production and development activity and spending patterns by E&P companies; a decline in, or substantial volatility of, crude oil and gas commodity prices, which generally leads to decreased spending by our customers and negatively impacts drilling, completion and production activity and other risks and uncertainties listed in our filings with the
Contact:
Tel: 832-930-8066
Email: IR@klxenergy.com
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