KLX Energy Services Holdings Inc
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For The Quarterly Period Ended June 30, 2024
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission File No.001-38609
(Exact name of registrant as specified in its charter)
| Delaware | 36-4904146 |
|---|---|
| (State of Incorporation) | (I.R.S. Employer Identification No.) |
3040 Post Oak Boulevard,15th Floor
Houston, TX 77056
(832)844-1015
(Address, including zip code, and telephone number, including area code, of principal executive offices of registrant)
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
|---|---|---|
| Common Stock, $0.01 Par Value | KLXE | The Nasdaq Global Select Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☒ |
|---|---|---|---|
| Non-accelerated filer | ☐ | Smaller reporting company | ☒ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒
The registrant has one class of common stock, $0.01 par value, of which 16,864,431 shares were outstanding as of July 31, 2024.
Form 10-Q
| PART I - FINANCIAL INFORMATION | 3 | |
|---|---|---|
| Item 1. Condensed Consolidated Financial Statements (Unaudited) | 3 | |
| Balance Sheets as of June 30, 2024 and December 31, 2023 | 3 | |
| Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 | 4 | |
| Statements of Stockholders' Equity for the Six Months Ended June 30, 2024 and 2023 | 5 | |
| Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 | 6 | |
| Notes to Condensed Consolidated Financial Statements | 7 | |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 19 | |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk | 32 | |
| Item 4. Controls and Procedures | 32 | |
| PART II - OTHER INFORMATION | 32 | |
| Item 1. Legal Proceedings | 32 | |
| Item 1A. Risk Factors | 32 | |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 33 | |
| Item 3. Defaults Upon Senior Securities | 33 | |
| Item 4. Mine Safety Disclosures | 33 | |
| Item 5. Other Information | 34 | |
| Item 6. Exhibits | 34 | |
| SIGNATURES | 35 |
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