ChampionX Q1 net income up 78% to $112.9M, adjusted EBITDA up 4% despite 3% revenue decline

ChampionX Corp

2024-Q1 EPS reported $0.58 revenue$922,141,000

Revenue $922.1M (-3% YoY); net income $112.9M (+78% YoY); adjusted net income $96.4M (+17% YoY).
Adjusted EBITDA $191.7M (+4% YoY); margin 20.8% (+130 bps). Cash from ops $173.5M, free cash flow $144.0M.
Production Chemical Tech revenue $590.1M (-7% seq); Production & Automation $252.6M (+5% seq); Drilling $55.2M (+18% seq).
Drilling segment includes $29.9M gain on sale-leaseback; op profit margin 80.4%.
Pending all-stock SLB acquisition expected by end 2024; no quarterly guidance or earnings call.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ChampionX Corp reported first quarter of 2024 results: revenue $922.1 million, net income $112.9 million.

Period: first quarter of 2024
Revenue: $922.1 million
Net income: $112.9 million
Result: reported results

Exact text from the filing

Revenue was $922.1 million, net income attributable to ChampionX was $112.9 million, and adjusted EBITDA was $191.7 million.

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Source: SEC EDGAR

accession 0001723089-24-000084

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