Loan & DebtMay 13, 2026, 04:47 PM
KLX Energy Services Amends Debt Covenants; Q1 Net Loss $(24.0)M
AI Summary
KLX Energy Services Holdings, Inc. amended its 2030 Senior Notes Indenture on March 6, 2026, securing financial covenant relief including an extension for the maximum total net leverage ratio and a temporary holiday for capital lease obligations. For the three months ended March 31, 2026, the company reported a net loss of $(24.0) million, an improvement from $(27.9) million in the prior year period. Revenues decreased by 6.04% to $144.7 million, while operating loss improved to $(12.1) million from $(16.5) million. The company was in compliance with its debt covenants as of March 31, 2026.
Key Highlights
- KLX Energy Services amended its 2030 Senior Notes Indenture for financial covenant relief on March 6, 2026.
- Q1 2026 net loss improved to $(24.0) million from $(27.9) million year-over-year.
- Q1 2026 revenues decreased 6.04% to $144.7 million from $154.0 million.
- Basic net loss per share improved to $(1.23) from $(1.62) year-over-year.
- Net cash flows from operating activities significantly improved to $0.3 million from $(37.6) million.
- Long-term debt increased to $271.3 million as of March 31, 2026, from $253.9 million.
- Northeast/Mid-Con segment revenues increased to $52.6 million from $41.0 million.
- Rocky Mountains segment revenues decreased to $38.6 million from $47.9 million.