KLX Energy Services Holdings, Inc. (KLXE)

[USAMade]

maybe a future re-entry point will emerge again.
Good Luck...

[boston127]

Took profits this AM.

And, I sold too early looking at today's climb. I'm out. Best of luck to everyone.

[ClayTrader]

* * $KLXE Video Chart 12-06-2019 * *

Link to Video - click here to watch the technical chart video

[USAMade]

THIRD QUARTER HIGHLIGHTS

Revenues were $134.5 million, a decrease of 18.4 percent as compared to the second quarter of 2019
Adjusted operating loss was $(4.0) million, as compared to second quarter Adjusted operating earnings of $11.9 million1
Adjusted EBITDA was $17.4 million, or 12.9 percent of revenues, as compared to second quarter Adjusted EBITDA and Adjusted EBITDA margin of $33.0 million and 20.0 percent, respectively2
Adjusted Net Loss and Adjusted Net Loss per diluted share were $(5.0) million and $(0.22) per diluted share, respectively, as compared to second quarter Adjusted Net Earnings and Adjusted Net Earnings per diluted share of $10.1 million and $0.45 per diluted share, respectively3
1 Excludes Costs as Defined
2 Excludes Costs as Defined and non-cash compensation expense
3 Excludes Costs as Defined, amortization and non-cash compensation expense

[USAMade]

Buying at these levels.


KLX Energy Services Holdings, Inc. (“KLX Energy Services” or the “Company”) (NASDAQ: KLXE), a leading U.S. onshore provider of mission critical, asset light oilfield services, announced a major cost reduction program to address the abrupt deterioration in industry conditions, which accelerated downward through the end of the third quarter ended October 31, 2019.
Amin J. Khoury, Chairman and Chief Executive Officer of KLX Energy Services commented, “Contemporaneously with the abrupt decline in activity, we took steps to align our business with current customer demand. Specifically, we implemented an approximate 17 percent reduction in force, as compared with the Company’s July 31, 2019 staffing levels, consistent with the approximate 18 percent sequential quarterly decline in our third quarter revenues. We aggressively cut costs in every area of our business, and we warm stacked the vast majority of our Permian based wireline assets. As a result of these and other measures, we expect to take a third quarter charge of approximately $13 million. Notwithstanding the precipitous decline in industry conditions, we generated approximately $44 million in cash flow from operations and approximately $31 million in free cash flow, bringing our cash balance to approximately $121 million for the quarter ended October 31, 2019. In addition, our $100 million credit facility remains undrawn.”

[USAMade]

Good Entry Point

Looks like some slow industry news causing a sell off.

Good time to enter.

[Enterprising Investor]

Day One (9/17/18)

KLX ENERGY SERVICES HOLDINGS INC (KLXE)
Volume 5,553,109
Net Change 1.0900
Net Change % 3.77%
52 Week High 29.9900 on 09/17/2018
52 Week Low 25.0000 on 08/29/2018
Day High 29.9900
Day Low 28.1100

[Enterprising Investor]

KLX Inc. Completes Spin-Off of KLX Energy Services Holdings, Inc. (9/17/18)

WELLINGTON, Fla., Sept. 17, 2018 (GLOBE NEWSWIRE) -- KLX Inc. (“KLX” or the “Company”) (NASDAQ: KLXI) announced today that it has completed the previously announced spin-off of KLX Energy Services Holdings, Inc. (“KLX Energy Services”) (NASDAQ: KLXE) from KLX. At 11:59 p.m. Eastern time on September 14, 2018, KLX distributed all outstanding shares of KLX Energy Services common stock to KLX shareholders at a distribution ratio of 0.4 shares of KLX Energy Services common stock for every one share of KLX common stock held on the September 3, 2018 record date.

Starting today, September 17, 2018, KLX common stock will no longer include the value of KLX Energy Services.

https://globenewswire.com/news-release/2018/09/17/1571574/0/en/KLX-Inc-Completes-Spin-Off-of-KLX-Energy-Services-Holdings-Inc.html

[Enterprising Investor]

KLX Energy Services begins trading under the ticker symbol "KLXE" on 9/14/18.

KLX Energy Services (KLXEV)
28.9 +1.79 (6.60%)
Volume: 293,656

[Enterprising Investor]

Weight Watchers International Set to Join S&P MidCap 400; KLX Energy Services Holdings to Join S&P SmallCap 600 (9/07/18)

NEW YORK, Sept. 7, 2018 /PRNewswire/ -- Weight Watchers International Inc. (NYSE: WTW) will replace KLX Inc. (NASD: KLXI) in the S&P MidCap 400, and KLX Energy Services Holdings Inc. (NASD: KLXE) will replace FTD Companies Inc. (NASD: FTD) in the S&P SmallCap 600 effective prior to the open of trading on Tuesday, September 18, 2018. S&P 500 constituent The Boeing Co. (NYSE: BA) is acquiring KLX in a transaction expected to be completed on Monday, September 17 pending final conditions. Immediately prior to its acquisition, KLX will spin-off KLX Energy Services Holdings to shareholders. FTD Companies is ranked near the bottom of the S&P SmallCap 600 and is no longer representative of the small-cap market space.

Weight Watchers provides weight management services. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Specialized Consumer Services Sub-Industry index.

KLX Energy Services is a provider of completion, intervention and production services and products to the major onshore oil and gas producing regions. Headquartered in Wellington, FL, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Equipment & Services Sub-Industry index

Following is a summary of the changes:
S&P MIDCAP 400 INDEX – SEPTEMBER 18, 2018

ADDED
Weight
Watchers
International
Consumer Discretionary
Specialized Consumer
Services

DELETED
KLX
Industrials
Aerospace & Defense


S&P SMALLCAP 600 INDEX – SEPTEMBER 18, 2018

ADDED
KLX Energy
Services
Energy
Oil & Gas Equipment &
Services


DELETED
FTD Companies
Consumer Discretionary
Internet & Direct
Marketing Retail

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https://www.prnewswire.com/news-releases/weight-watchers-international-set-to-join-sp-midcap-400-klx-energy-services-holdings-to-join-sp-smallcap-600-300709076.html

[Enterprising Investor]

KLX Announces Spin-Off Trading Information (8/28/18)

WELLINGTON, Fla., Aug. 28, 2018 (GLOBE NEWSWIRE) -- In connection with its previously announced spin-off of KLX Energy Services Holdings, Inc. ("KLX Energy Services"), KLX Inc. ("KLX" or the "Company") (NASDAQ:KLXI) today announced that it has been informed by NASDAQ about certain key dates relating to trading in common stock of KLX Energy Services and KLX in connection with the spin-off. As previously announced, the record date for the distribution of KLX Energy Services common stock to KLX shareholders will be the close of business on Monday, September 3, 2018, and the distribution date will be September 14, 2018.

Starting on Wednesday, August 29, 2018, there will be a when-issued market in KLX Energy Services common stock under the ticker symbol "KLXEV." This when-issued market will continue until regular-way trading in KLX Energy Services common stock begins under the ticker symbol "KLXE" on September 17, 2018, the first trading day after the distribution date.

Also, starting on Wednesday, August 29, 2018, there will be two markets in KLX common stock: a "regular-way" market and an "ex-distribution" market:

• Regular way market. Shares of KLX common stock that trade on the regular-way market under KLX's current ticker symbol "KLXI" will trade with an entitlement to shares of KLX Energy Services common stock distributed in the distribution through September 14, 2018.

• Ex-distribution market. Shares of KLX common stock that trade on the ex-distribution market will trade under the ticker symbol "KLXIV" without an entitlement to shares of KLX Energy Services common stock distributed in the distribution. The last day of trading in the ex-distribution market will be September 14, 2018.

KLX received this information from NASDAQ and is providing it as a convenience, but investors are urged to consult with their own financial advisers regarding the specific implications of buying or selling KLX common stock on or before the distribution date.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements, including those regarding the timing and consummation of the transactions described herein, involve risks and uncertainties. The Company's actual experience and results may differ materially from the experience and results anticipated in such statements. Factors that might cause such a difference include those discussed in the Company's filings with the SEC, which include its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and in the Form 10 filed in connection with the proposed spin-off of KLX Energy Services. For more information, see the sections entitled "Risk Factors" and "Forward-Looking Statements" contained in the Company's Annual Report on Form 10-K and its other filings. The forward-looking statements included in this news release are made only as of the date of this news release and, except as required by the federal securities laws and the rules and regulations of the SEC, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About KLX Inc.

KLX Inc., through its two operating segments, provides mission critical products and complex logistical solutions to support its customers' high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality, just-in-time customer support. The Aerospace Solutions Group is a leading distributor and value added service provider of aerospace fasteners and consumables, offering the broadest range of aerospace hardware and consumables and inventory and supply chain management services worldwide. The Energy Services Group provides completion, intervention and production services to the major onshore oil and gas producing regions of the United States, including the Northeast Region (the Marcellus and Utica Shales) as well as the Mid-Continent STACK and SCOOP and Haynesville, the Rocky Mountains Region (the Bakken formation, Williston, DJ, Uinta and Piceance Basins and Niobrara Shale) and the Southwest Region (including the Permian Basin and Eagle Ford Shale), serving the leading companies engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves.

https://www.nasdaq.com/press-release/klx-announces-spinoff-trading-information-20180828-00045

[Enterprising Investor]

KLX Stockholders Approve Merger With The Boeing Company; KLX Inc. Board of Directors Approves Spin-Off of KLX Energy Services Holdings, Inc. to Occur on September 14, 2018 (8/24/18)

WELLINGTON, Fla., Aug. 24, 2018 (GLOBE NEWSWIRE) -- KLX Inc. ("KLX" or the "Company") (NASDAQ:KLXI) announced today that KLX stockholders voted in favor of the proposal to adopt the previously announced Agreement and Plan of Merger, dated as of April 30, 2018 (the "Merger Agreement"), by and among KLX, The Boeing Company ("Boeing") and a wholly owned subsidiary of Boeing, as amended by Amendment No. 1 thereto, dated as of June 1, 2018, at a special meeting of stockholders held today at the Boston Harbor Hotel in Boston, Massachusetts. KLX also announced today that its board of directors (the "Board") has approved the spin-off of its Energy Services Group business, which will be known as KLX Energy Services Holdings, Inc. ("KLX Energy Services"), through a distribution of all of the shares of KLX Energy Services common stock on a pro rata basis to the holders of KLX's common stock.

Merger Approval

At the special meeting, approximately 99.4% of all votes cast, which represents approximately 85.4% of all outstanding shares on July 24, 2018, the record date for the special meeting, were voted in favor of the proposal to adopt the Merger Agreement.

Under the terms of the Merger Agreement, KLX stockholders will have the right to receive, for each share of KLX common stock that they own immediately prior to the effective time of the merger, $63.00 in cash per share, without interest (the "Merger Consideration"). The Merger Consideration is in addition to, and separate from, the shares of KLX Energy Services Holdings, Inc. ("KLX Energy Services") that KLX stockholders as of the record date, September 3, 2018, of the previously announced spin-off of KLX Energy Services will receive in the spin-off on September 14, 2018.

A full description of the proposed merger is included in the proxy statement for the special meeting, which is available without charge through the Securities and Exchange Commission website at www.sec.gov. You may also obtain copies of documents filed by KLX with the SEC on KLX's Internet website at http://www.klx.com under the tab "Investor Relations," then under the tab "Reports & SEC Filings."

Spin-Off

In connection with the spin-off, for every one share of KLX common stock held, KLX's shareholders will receive 0.4 shares of KLX Energy Services common stock. No fractional shares of KLX Energy Services will be issued. KLX Shareholders will receive cash in lieu of fractional shares. The Board has set a record date of September 3, 2018 and a distribution date of September 14, 2018.

The distribution of KLX Energy Services common stock will complete the separation of KLX Energy Services from KLX. After the distribution, KLX Energy Services will be an independent, publicly-traded company and KLX will not own any shares of KLX Energy Services common stock. KLX Energy Services common stock is expected to begin trading on the NASDAQ under the ticker symbol KLXE. KLX will continue to trade on the NASDAQ under the ticker symbol KLXI, until the consummation of the Boeing/KLX merger, which is expected to occur in the fourth calendar quarter of 2018.

Amin J. Khoury, Chairman and Chief Executive Officer of KLX commented, "Our decision to separate the Energy Services business was the result of having successfully completed the strategic alternatives review process, which had been undertaken by our management team and Board of Directors, together with our independent advisors. We believe the outcome of this process will result in the achievement of maximum value for our shareholders, and positions our employees, our customers and our suppliers at both our Aerospace Solutions Group and our Energy Services Group businesses for continued success in the years to come."

The distribution of KLX Energy Services common stock is subject to the conditions set forth in the Distribution Agreement among KLX, KLX Energy Services and KLX Energy Services LLC, filed as an exhibit to KLX's Current Report on Form 8-K filed with the SEC on July 17, 2018.

No action is required by KLX's shareholders in order to receive shares of KLX Energy Services common stock in the distribution. An information statement, which is an exhibit to KLX Energy Services' Registration Statement on Form 10, is being mailed to all KLX stockholders and describes the spin-off and the business of KLX Energy Services, including the risks of owning KLX Energy Services common stock, and other details regarding the separation.

About KLX Inc.

KLX Inc., through its two operating segments, provides mission critical products and complex logistical solutions to support its customers' high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality, just-in-time customer support. The Aerospace Solutions Group is a leading distributor and value added service provider of aerospace fasteners and consumables, offering the broadest range of aerospace hardware and consumables and inventory and supply chain management services worldwide. The Energy Services Group provides completion, intervention and production services to the major onshore oil and gas producing regions of the United States, including the Northeast Region (the Marcellus and Utica Shales) as well as the Mid-Continent STACK and SCOOP and Haynesville, the Rocky Mountains Region (the Bakken formation, Williston, DJ, Uinta and Piceance Basins and Niobrara Shale) and the Southwest Region (including the Permian Basin and Eagle Ford Shale), serving the leading companies engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves.

https://www.nasdaq.com/press-release/klx-stockholders-approve-merger-with-the-boeing-company-klx-inc-board-of-directors-approves-spinof-20180824-00578