KLX Energy Services (KLXE) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - KLX Energy Services reported a quarterly loss of $0.40 per share, which was better than the Zacks Consensus Estimate of a loss of $0.72, representing an earnings surprise of 44.44% [1] - The company posted revenues of $180.2 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.22%, but down from $234 million in the same quarter last year [2] - Over the last four quarters, KLX Energy Services has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - KLX Energy Services shares have declined approximately 48.9% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.65 on revenues of $182.25 million, and for the current fiscal year, it is -$2.60 on revenues of $711.5 million [7] Industry Outlook - The Oil and Gas - Field Services industry, to which KLX Energy Services belongs, is currently ranked in the bottom 14% of over 250 Zacks industries, indicating a challenging environment [8] - The performance of KLX Energy Services may be influenced by the overall outlook for the industry, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]