HOUSTON— Power of KLX Service Holdings, Inc. (NASDAQ:) recently announced a stock transaction involving Lehner Keefer McGovern, 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 common stock on December 26, 2024. The shares were sold at an 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 the 52-week low of $4.18.
The transaction was made under a previously established Rule 10b5-1 trading plan, approved by McGovern on September 26, 2024, for tax and estate planning purposes. Following the sale, McGovern owned 90,988 shares of KLX Energy Services. According to InvestingPro analysis, the company currently shows signs of great importance, with challenging fundamentals including negative earnings per share of $2.94 and a high Price / Book ratio.
KLX Energy Services, headquartered in Houston, provides oil and gas field services. The company continues to focus on the energy sector's challenges, with its management team actively managing their stock portfolios. With annual revenue of $738 million and EBITDA of $80.2 million, the company faces ongoing challenges. Get in-depth information on KLXE's financial health and access 7 exclusive ProTips by signing up InvestingPro.
In other recent news, KLX Energy Services reported strong performance in the third quarter, with revenues reaching $189 million and adjusted EBITDA at $28 million, exceeding previous expectations and achieving a 15% adjusted margin of EBITDA. These results come despite a challenging market environment and a decline in US land rigs and active track spreads. The company's geographic distribution of revenue was balanced, with the Southwest and Rockies each contributing 36%, and the Northeast Mid-Con at 28%.
KLX Energy Services also highlighted its strategic position and optimistic outlook for the coming years, focusing on efficiency and growth in LNG shipments and demand. For the fourth quarter, an estimated 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 expected by 2025, driven by increased LNG exports and data center demand.
These are part of the recent development of KLX Energy Services, which also includes the introduction of a comprehensive ownership and successful alignment of its customer base and the modernization of its asset fleet. The company is always open to equity-based partnerships that provide the right expertise and value for the partnership, demonstrating its commitment to operational excellence and safety.
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