Core Points - KLX Energy Services Holdings, Inc. will report its 2025 third quarter financial results on November 6, 2025, at 10:00 a.m. Eastern Time [1][2] - The conference call can be accessed via phone or live webcast, with a replay available until November 20, 2025 [2] Company Overview - KLX is a growth-oriented provider of diversified oilfield services, focusing on drilling, completion, production, and intervention activities for technically demanding wells [3] - The company operates over 60 service and support facilities across the United States, catering to both conventional and unconventional oil and natural gas exploration and production companies [3] - KLX's services are supported by technically skilled personnel and a broad portfolio of innovative in-house manufacturing, repair, and maintenance capabilities [3]

Core Viewpoint - SLB reported third-quarter earnings that exceeded expectations, reflecting cautious optimism for future growth despite current market challenges [2][3] Financial Performance - Revenue for the third quarter was $8.93 billion, slightly above the expected $8.92 billion [2] - Earnings per share (EPS) were 69 cents, surpassing estimates of 66 cents by 3.95% [2] Market Context - SLB's stock has declined over 1% following the earnings report and is down approximately 14% in 2025, correlating with crude oil price movements [1] - Crude oil prices recently fell below $60 per barrel, but structural trends suggest potential for higher demand and pricing power in the future [4][5] Growth Catalysts - North American infrastructure investment and onshoring efforts are expected to drive energy demand, potentially tightening supply and supporting oil prices [5][6] - International markets, particularly in the Middle East and Asia, are showing resilience, with 80% of SLB's revenue derived from these regions [8] Strategic Initiatives - SLB is focusing on long-cycle projects and anticipates OPEC+ will gradually increase production quotas, which aligns with the company's investment strategy [9] - The company is also advancing in digital and transition technologies, with its SLB New Energy division targeting carbon capture and lithium extraction [10] Financial Outlook - Analysts project a 12-month stock price forecast of $52.00, indicating a potential upside of 59.61% from the current price of $32.58 [12] - SLB is trading at a discount to historical valuation multiples and industrial peers, with a forward earnings multiple around 9x [13][14]

Industry Impact - Shale fracker leader criticizes tariffs on steel and oilfield staples, deeming them inefficient and detrimental to business [1] Policy & Regulation - Tariffs on steel and other oilfield staples are viewed as negative for the shale fracking industry [1]

Market Overview - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by over 200 points, closing up 0.48% at 46,172.36, while NASDAQ rose 0.18% to 22,605.82, and S&P 500 gained 0.29% to 6,648.25 [1] - In the commodities market, oil prices increased by 0.1% to $57.48, while gold decreased by 1% to $4,262.00, silver fell by 4.6% to $50.820, and copper dropped by 0.5% to $4.9735 [5] Company Performance - SLB (NYSE:SLB) reported third-quarter 2025 results that exceeded expectations, with revenue of $8.93 billion, a 4% sequential increase but a 3% year-over-year decline, narrowly beating Wall Street's estimate. Adjusted EPS was 69 cents, surpassing the 66 cents estimate, although it was down 7% sequentially and 22% year-over-year [2] - Rani Therapeutics Holdings Inc (NASDAQ:RANI) saw a significant share price increase of 316% to $1.96 following a collaboration agreement with Chugai Pharmaceutical and an oversubscribed private placement of $60.3 million [6] - Artiva Biotherapeutics Inc (NASDAQ:ARTV) shares surged 105% to $5.68 after receiving Fast Track Designation from the FDA for AlloNK, with Wedbush raising its price target from $18 to $23 [6] - Disc Medicine, Inc. (NASDAQ:IRON) shares rose by 23% to $91.82 after receiving a National Priority Voucher from the FDA, with Wedbush maintaining an Outperform rating and raising the price target from $90 to $110 [6] - UTime Ltd (NASDAQ:WTO) shares fell by 33% to $0.090 due to the pricing of a $25 million registered direct offering [6] - Standard Lithium Ltd. (NYSE:SLI) shares decreased by 25% to $4.0631 following the announcement of a previously announced underwritten public offering [6] - Omeros Corporation (NASDAQ:OMER) shares dropped 17% to $8.18 after publishing a peer-reviewed manuscript regarding survival outcomes in patients treated with narsoplimab [6] International Markets - European shares declined, with the eurozone's STOXX 600 falling 0.95%, Spain's IBEX 35 Index down 0.29%, London's FTSE 100 down 0.86%, Germany's DAX 40 declining 1.82%, and France's CAC 40 slipping [6] - Asian markets closed mostly lower, with Japan's Nikkei 225 down 1.44%, Hong Kong's Hang Seng index down 2.48%, China's Shanghai Composite down 1.95%, while India's BSE Sensex rose by 0.58% [8]

Financial Data and Key Metrics Changes - Liberty Energy reported revenue of $947 million in Q3 2025, a decrease of 9% sequentially from $1 billion in the prior quarter [18] - Adjusted EBITDA for the third quarter was $128 million, down from $181 million in the previous quarter [19] - Net income for Q3 was $43 million, compared to $71 million in the prior quarter, with adjusted net loss of $10 million compared to adjusted net income of $20 million in the previous quarter [18][19] - Fully diluted net income per share was $0.26, down from $0.43 in the prior quarter [19] - The company ended the quarter with a cash balance of $13 million and net debt of $240 million, which increased by $99 million from the prior quarter [19] Business Line Data and Key Metrics Changes - The company achieved the highest combined average daily pumping efficiency and safety performance in its history, despite a slowdown in industry completions activity [4] - DigiPrime fleets showed outstanding performance, with significant cost improvements and efficiency metrics [5][6] - General and administrative expenses remained flat at $58 million, including $5 million in non-cash stock-based compensation [19] Market Data and Key Metrics Changes - Oil and gas industry frac activity has fallen below levels required to sustain North American oil production, leading to a moderation in completions [10][11] - The company anticipates that the moderation in activity is transitory, with long-term gas demand and related completions activity on a favorable trajectory [11][12] - Pricing pressure is primarily affecting conventional fleets due to lower industry activity and underutilized fleets [12] Company Strategy and Development Direction - Liberty Energy is focused on expanding its power generation services, with plans to deliver over one gigawatt of capacity by 2027 [10][21] - The company is committed to driving innovation in technology and service quality, leveraging its Digi Technologies platform to enhance operational efficiencies [13][15] - The strategic acquisition of SLB's completion technologies is seen as a key factor in enhancing the company's competitive position [7] Management's Comments on Operating Environment and Future Outlook - Management expects market headwinds to persist in the near term but believes the company is well-positioned to capitalize on future opportunities [5][10] - The leadership team is confident in the growth trajectory of the power business and anticipates further increases in power generation capacity to meet growing demand [10][21] - Management highlighted the importance of long-term partnerships and the need for a strategic approach to securing contracts in the power generation sector [25][56] Other Important Information - The company recently welcomed Alice Yake to its Board, an expert in energy and infrastructure, to guide its power services efforts [15] - Liberty Energy is focused on maintaining a strong balance sheet while investing in both its frac and power businesses [85] Q&A Session Summary Question: Visibility on demand for power generation assets - Management noted that the sales pipeline for power generation has more than doubled in the last 90 days, with increased urgency in customer demand [25] Question: Financing for capacity growth - The company plans to use project-specific debt backed by long-term contracts, with expectations of covering approximately 70% of capital needs through debt [34] Question: Handling transient response for data centers - Management is developing tailored solutions for transient loads, working closely with engineering teams and partners [39] Question: Capital allocation between frac and power - The frac business remains a strong cash generator, and the company will invest in both businesses as opportunities arise without being capital limited [85] Question: Equipment ordering and delivery timelines - The average timeline from equipment delivery to revenue generation is about six months, depending on the technology used [74] Question: Technology evolution in power generation - The company continues to favor gas reciprocating engines but acknowledges the role of turbines and other technologies in its future power generation strategy [90]

Financial Data and Key Metrics Changes - Liberty Energy reported revenue of $947 million in Q3 2025, a decrease of 9% from $1 billion in the previous quarter [16][17] - Adjusted EBITDA for the third quarter was $128 million, down from $181 million in the prior quarter [17] - Net income for Q3 was $43 million, compared to $71 million in the previous quarter, with an adjusted net loss of $10 million versus adjusted net income of $20 million in the prior quarter [17] - Fully diluted net income per share was $0.26, down from $0.43 in the prior quarter, while adjusted net loss per diluted share was $0.06 compared to a profit of $0.12 in the previous quarter [17] - The company ended the quarter with a cash balance of $13 million and net debt of $240 million, which increased by $99 million from the prior quarter [18] Business Line Data and Key Metrics Changes - The company’s DigiPrime fleets achieved record performance in pumping hours, horsepower hours, and proppant volumes during the quarter [4][5] - The DigiPrime pumps realized maintenance cost savings greater than 30% compared to conventional technologies [5] - AI-driven software, STEM Commander, improved stage execution time by 65% and hydraulic efficiency by 5% to 10% [6] Market Data and Key Metrics Changes - Oil and gas industry frac activity has fallen below levels required to sustain North American oil production, leading to a moderation in completions [10][11] - The slowdown in oil markets has offset increased demand for natural gas fleet activity, although long-term fundamentals remain encouraging [11] - The company anticipates a stabilization of industry activity levels and a potential uptick in 2026, assuming supportive commodity prices [19] Company Strategy and Development Direction - Liberty Energy is focused on expanding its power generation services, with plans to secure additional power generation capacity to exceed one gigawatt by 2027 [10][19] - The company is committed to leveraging technology innovation and service quality to strengthen its competitive position [4][12] - The strategic acquisition of SLB's completion technologies is expected to enhance operational efficiency and performance [6][8] Management's Comments on Operating Environment and Future Outlook - Management anticipates that market headwinds will persist in the near term but believes the company is well-positioned to capitalize on future opportunities [4][10] - The leadership team expressed confidence in the growth trajectory of the power business, driven by increasing demand for reliable energy solutions [10][20] - Management noted that the current downturn in frac activity is expected to be transitory, with a favorable trajectory for long-term gas demand [11][12] Other Important Information - The company increased its quarterly cash dividend by 13% to reflect confidence in future growth and commitment to shareholder value [20] - Alice Yake, an energy and infrastructure expert, was welcomed to the board to guide the company’s power services efforts [14] Q&A Session Summary Question: Visibility on demand for power generation assets - Management noted that the sales pipeline for power generation has more than doubled in the last 90 days, with increased urgency in customer demand [25][26] Question: Financing for capacity growth - The financing for power plants will likely involve long-term Energy Services Agreements (ESAs) and project-specific debt, with approximately 70% of capital needs potentially covered by debt [32] Question: Handling transient response for data centers - The company is developing proprietary solutions tailored to specific generation assets to meet transient load demands [35][36] Question: Capital allocation between frac and power - Management stated that investments in the frac business will continue based on the timing of the cycle, and there will be no capital limitations affecting both businesses [71] Question: Equipment ordering and delivery specifics - The majority of incremental capacity will consist of gas reciprocating engines, with turbines playing a role in the future [74][75]

Core Insights - Wall Street analysts expect Halliburton (HAL) to report quarterly earnings of $0.50 per share, reflecting a year-over-year decline of 31.5% [1] - Revenues are projected to be $5.39 billion, down 5.3% from the same quarter last year [1] - The consensus EPS estimate has been revised downward by 2.6% over the past 30 days, indicating a collective reassessment by analysts [1] Revenue Projections - Analysts estimate 'Revenues- Drilling and Evaluation' to reach $2.28 billion, a decrease of 4.8% from the prior year [4] - 'Revenues- Completion and Production' is expected to be $3.12 billion, down 5.4% year-over-year [4] - 'Revenues- Latin America' is projected at $960.53 million, indicating an 8.8% decline from the previous year [5] - 'Revenues- Europe/Africa/CIS' is expected to reach $754.30 million, reflecting a year-over-year increase of 4.5% [5] - 'Revenues- North America' is anticipated to be $2.17 billion, down 9.1% from the prior-year quarter [5] - 'Revenues- Middle East/Asia' is projected at $1.51 billion, indicating a year-over-year change of -1.5% [6] Operating Income Estimates - 'Operating income- Completion and Production' is expected to be $448.97 million, compared to $669.00 million from the previous year [6] - 'Operating income- Drilling and Evaluation' is projected to reach $337.72 million, down from $406.00 million year-over-year [6] Stock Performance - Over the past month, Halliburton shares have recorded a return of -2.4%, while the Zacks S&P 500 composite has seen a +0.7% change [7] - Halliburton holds a Zacks Rank 5 (Strong Sell), suggesting it may underperform the overall market in the near term [7]

Core Insights - SLB reported higher-than-expected earnings for Q3 2025, with North American revenue increasing by 17% from Q2 and 14% year-over-year [1][2] - Adjusted EPS for Q3 was $0.69, surpassing the analyst consensus estimate of $0.66, although lower than previous quarters [1] North American Revenue - North American revenue for Q3 2025 was significantly boosted by the acquisition of ChampionX, contributing $579 million, with $387 million from North America [2] - Pro forma analysis indicated that without the ChampionX acquisition, North American revenue would have declined by 5% due to the divestiture of the APS project and reduced U.S. land drilling activity [3] International Revenue Outlook - International revenue remained flat quarter-on-quarter and decreased by 7% year-over-year, but SLB views international markets as crucial for future growth [3][4] - The CEO highlighted that international markets are expected to lead a rebound in activity, supported by ongoing investments in oil capacity and gas expansion projects [4][5] Market Resilience - Despite challenges in some regions, international markets, particularly in the Middle East and Asia, are showing robust growth [5] - Anticipated OPEC+ production releases are expected to bolster investment in countries where SLB has a strong presence [5]

Core Viewpoint - SLB reported a decline in net income and income before taxes for the third quarter of 2025 compared to both the previous quarter and the same quarter last year, indicating potential challenges in maintaining profitability in a fluctuating market [1]. Financial Performance - Revenue for the third quarter of 2025 was $8,928 million, representing a 4% increase sequentially from $8,546 million in the second quarter of 2025, but a 3% decrease from $9,159 million in the third quarter of 2024 [1]. - Income before taxes on a GAAP basis was $1,000 million, down 22% from $1,285 million in the previous quarter and down 34% from $1,507 million in the same quarter last year [1]. - The income before taxes margin on a GAAP basis decreased to 11.2%, a decline of 383 basis points sequentially and 525 basis points year-on-year [1]. - Net income attributable to SLB on a GAAP basis was $739 million, which is a 27% decrease from $1,014 million in the previous quarter and a significant decline from $1,186 million in the same quarter last year [1].

With U.S. stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:Wall Street expects Slb NV (NYSE:SLB) to report quarterly earnings at 66 cents per share on revenue of $8.97 billion before the opening bell, according to data from Benzinga Pro. SLB shares fell 0.3% to $32.82 in after-hours trading.CSX Corp. (NASDAQ:CSX) posted better-than-expected results for the third quarter, after the closing bell on Thursday. CSX reported third-quarter rev ...