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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
KLX Energy Services
KLX Energy Services (KLXE) investor relations material
KLX Energy Services Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary11 Aug, 2026
Executive summary
Q2 2026 revenue reached $167.3 million, up 16% sequentially and 5.2% year-over-year, with adjusted EBITDA of $18.7 million (68% sequential increase) and margin improvement to 11.2%.
Net loss improved to $8.4 million from $24 million in Q1 and $19.9 million YoY, with operating income of $2.1 million, a turnaround from a $8.7 million loss YoY.
Wolf Pack acquisition closed June 2, 2026, contributing $3.4 million in June revenue, $0.3 million in net income (excluding one-time gains), and a $6.5 million bargain purchase gain; annual synergy targets raised to $2.5 million.
Announced a $125 million backstop equity rights offering to reduce debt, improve liquidity, and strengthen the capital structure, with up to $94 million reduction in 2030 Senior Notes principal.
Total liquidity at quarter end was $53 million, including $7.9 million in cash and $45.4 million in credit facility availability.
Financial highlights
Revenue increased by $22.6 million from Q1, with base business (excluding Wolf Pack) growing over 13% sequentially.
Adjusted EBITDA margin rose to 11.2% from 7.7% in Q1; net loss margin improved to (5.0)% from (12.5)% in Q1.
Operating loss improved to $4.4 million from $12.1 million in Q1, excluding a $6.5 million non-recurring bargain purchase gain.
Levered free cash flow was $4.1 million, up from $(5.0) million in Q1; net working capital at quarter end was $46 million.
Capital expenditures were $8.6 million, primarily maintenance, slightly down from $8.7 million in Q1.
Outlook and guidance
Q3 2026 revenue expected between $176 million and $188 million, with mid-single digit sequential growth in the base business.
Margins anticipated to continue expanding due to higher activity and better fixed cost absorption.
Pro forma for the equity rights offering, net leverage ratio expected to improve to approximately 2.7x.
Management expects continued cautious capital allocation by customers amid volatile oil prices and geopolitical uncertainty.
Full-year 2026 capital expenditures expected to be approximately $40 million.
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Latest events from KLX Energy Services
- Up to $250M in securities registered for flexible offerings; 2.18M shares for resale by holders.KLXE
Registration filing - Q4 2025 delivered margin gains and cash flow growth, supported by tech-driven oilfield services.KLXECompany presentation
- Q2 2026 is forecast to rebound with higher revenue and expanding margins after a soft Q1.KLXEQ1 2026
- Key votes include board declassification, director elections, and supermajority rule changes.KLXEProxy filing
- Key votes on board declassification, supermajority removal, and executive pay highlight governance reforms.KLXEProxy filing
- Board declassification, governance reforms, and executive pay are key 2026 proxy topics.KLXEProxy Filing
- Q4 2025 saw record profitability, with 2026 guidance flat to slightly up and strong liquidity.KLXEQ4 2025
- Q3 revenue rose sequentially to $188.9M, but net loss persisted; 2025 outlook is cautiously optimistic.KLXEQ3 2024
- Q2 2024 revenue rose sequentially but fell year-over-year, with margin gains and net loss.KLXEQ2 2024
Next KLX Energy Services earnings date
Q3 20266 Nov, 2026
KLX Energy Services
Next KLX Energy Services earnings date
Q3 20266 Nov, 2026
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Frequently asked questions
KLX Energy Services Holdings, Inc. provides drilling, completions, production, and well intervention services and products to the onshore oil and gas producing regions of the United States. It offers solids control equipment, auxiliary pumps and related accessories, and drilling fluids systems; drilling optimization software; and wireline, pressure pumping and frac services for well completion tasks. The company also provides cementing services designed to assist customers in establishing long-term casing integrity. KLX Energy Services Holdings, Inc. was incorporated in 2018 and is headquartered in Houston, Texas.