secwatch.observer — SEC 8-K summary
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Issuer:     ChampionX Corp (—)
CIK:        0001723089
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001723089-24-000084
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1723089/000172308924000084/0001723089-24-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1723089/000172308924000084/championx-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001723089-24-000084

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer