KLX Energy Services Holdings, Inc. reported a decline in financial performance for the second quarter of 2025, with revenues totaling $159.0 million, down 11.8% from $180.2 million in the same period last year. The company experienced a net loss of $19.9 million, compared to a loss of $8.0 million in the prior year. For the first half of 2025, revenues were $313.0 million, a decrease of 11.8% from $354.9 million in the first half of 2024, with a net loss of $47.8 million compared to a loss of $30.2 million in the previous year.
The decrease in revenue was attributed to lower activity levels and pricing pressures, with the Rocky Mountains and Southwest segments experiencing declines of 11.9% and 15.9%, respectively. The Northeast/Mid-Con segment also saw a 5.7% drop in revenue. Cost of sales as a percentage of revenue increased to 79.0% in the second quarter, up from 75.5% in the prior year, primarily due to lower fixed cost leverage. Selling, general, and administrative expenses remained relatively stable, accounting for 11.3% of revenues.
In terms of strategic developments, KLX Energy Services completed a refinancing of its long-term debt in March 2025, which included the issuance of $232.2 million in 2030 Senior Notes. This refinancing was part of a broader effort to improve liquidity and reduce interest burdens. The company also reported a total liquidity position of $65.4 million as of June 30, 2025, which includes $16.7 million in cash and cash equivalents and $48.7 million available under its new asset-based revolving credit facility.
Operationally, KLX Energy Services operates over 60 service facilities across major U.S. shale basins, focusing on providing a range of oilfield services. The company has emphasized its commitment to innovation, with a portfolio that includes proprietary products and specialized services. However, the company’s employee headcount and customer engagement metrics were not disclosed in the filing. Looking ahead, KLX Energy Services anticipates continued volatility in oil and natural gas prices, which may impact capital allocation decisions by its customers. The company remains focused on strategic acquisitions and operational efficiencies to enhance its competitive positioning in the market.
About KLX Energy Services Holdings, Inc.
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