KLX Energy Services Holdings, Inc. (NasdaqGS:KLXE) will look for M&A. Christopher Baker President and Chief Executive Officer said during the Third Quarter Earnings Conference Call, "Looking ahead, we are extremely optimistic about 2023, given our 2022 performance year-to-date and fourth quarter expectations. A favorable macro backdrop is driving continued improvement in utilization and net pricing, which should allow us to drive further margin expansion throughout 2023. Additionally, we have some quick payback, organic growth opportunities we plan to execute on and strategic M&A opportunities are heating up within the industry.

We believe industry consolidation will play a key part in KLX's future, and we are now better positioned to pursue additional M&A opportunities going forward. We have seen sell-side M&A pick up significantly in the past few months. And interestingly, we've seen some of our pure-play frac competitors begin to add complementary service lines and diversify their platforms".