KLX Energy Services Holdings reports Q3 2026 results

Item 2.02 Results of Operations and Financial Condition.

On November 5, 2026 , KLX Energy Services Holdings, Inc. ("KLXE" or the "Company") issued a press release (the "Press Release") to report its financial results for the third quarter ended September 30, 2026.¹ KLXE is hereby furnishing the Press Release, which is included as Exhibit 99.1 hereto, pursuant to Item 2.02 of Form 8-K.²

In accordance with General Instruction B.2 of Form 8-K, the information furnished pursuant to this Item 2.02, and including Exhibit 99.1 furnished herewith, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act², nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit

No. Description

99.1 Press Release, dated November 5 , 2026

104 Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

KLX Energy Services Holdings, Inc.

By: /s/ Geoffrey C. Stanford

Name: Geoffrey C. Stanford

Title: Senior Vice President, Interim Chief Financial Officer and Chief Accounting Officer

Date: November 5, 2026

NEWS RELEASE

Contacts: KLX Energy Services Holdings, Inc.

Geoffrey C. Stanford, SVP, Interim CFO & CAO

832-930-8066

IR@klx.com

Dennard Lascar Investor Relations

Ken Dennard / Natalie Hairston

713-529-6600

KLXE@dennardlascar.com

KLX ENERGY SERVICES HOLDINGS, INC. REPORTS THIRD QUARTER 2026 RESULTS

HOUSTON, TX - November 5, 2026 - KLX Energy Services Holdings, Inc. (Nasdaq: KLXE) ("KLX", the "Company", "we", "us" or "our") today reported financial results for the third quarter ended September 30, 2026.

Third Quarter 2026 Financial and Operational Highlights

• Revenue of $186 million, an 11% increase over second quarter 2026

• Net loss of $(15) million and diluted loss per share of $(0.68)⁵

• Adjusted net loss, excluding costs related to the Backstopped Rights Offering, of $(10) million and adjusted diluted earnings per share of $(0.44)

• Net loss margin of (8)%

See "Non-GAAP Financial Measures" at the end of this release for a discussion of Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Loss, Adjusted Diluted Loss per share, Unlevered and Levered Free Cash Flow, Net Working Capital, Net Debt and their reconciliations to the most directly comparable financial measure calculated and presented in accordance with U.S. generally accepted accounting principles ("GAAP"). We have not provided reconciliations of our future expectations as to Adjusted EBITDA or Adjusted EBITDA margin as such reconciliations are not available without unreasonable efforts.

Chris Baker, KLX President and Chief Executive Officer, stated, "Our third quarter results demonstrate the earnings potential of the KLX platform when activity, mix and execution align. Revenue was $186 million, above the high end of our guidance range and up $18 million, or 11%, sequentially, outpacing the 7% increase in the average Lower 48 land rig count. All three of our geographic segments delivered sequential revenue growth. Adjusted EBITDA increased 33% to $25 million, Adjusted EBITDA margin improved to approximately 13.4%, and incremental margins were approximately 34%. The Rocky Mountains led the 1 improvement, with segment Adjusted EBITDA doubling sequentially, while on a product service line basis accommodations, technical services, rentals and wireline provided the primary revenue growth.

"We made meaningful progress on the three priorities we outlined exiting the second quarter. First, we strengthened our balance sheet through the successful completion of the Backstopped Rights Offering, converting $87.8 million of debt to equity and raising $37.2 million of new equity. As a result, we ended the quarter with approximately $100 million less total debt than at the end of the second quarter and $78 million of total liquidity. We appreciate the support of our shareholders and creditors, and we believe our improved financial position provides greater flexibility to invest in the business, pursue disciplined growth and create long-term shareholder value. Second, we substantially completed the integration of Wolf Pack and remain on track to deliver the $2.5 million of projected annual cost synergies. Finally, we continued to drive revenue and margin growth above our expectations while maintaining a disciplined approach to capital allocation.

"Looking ahead, for the fourth quarter, we expect revenue of $172 million to $184 million¹², representing approximately 14% growth over the prior-year period at the midpoint. Our priorities remain protecting margins through the historical seasonal slowdown, turning earnings into cash and building on the momentum of the third quarter," concluded Baker.

Third Quarter 2026 Financial Results

Revenue for the third quarter of 2026 totaled $185.6 million, an increase of 10.9% compared to the second quarter of 2026 revenue of $167.3 million.³ The increase in revenue reflects a seasonal market activity increase. On a product line basis, completion, drilling, production and intervention services contributed approximately 50%, 25%, 16% and 9%, respectively, to revenue for the third quarter of 2026.

Net loss for the third quarter of 2026 was $(15.5) million, compared to the second quarter of 2026 net loss of $(8.4) million.⁴ Adjusted net loss for the third quarter of 2026 was $(10.1) million, compared to the second quarter of 2026 adjusted net loss of $(13.2) million.⁸ Adjusted EBITDA for the third quarter of 2026 was $24.9 million, compared to the second quarter of 2026 Adjusted EBITDA of $18.7 million.⁶ Adjusted EBITDA margin for the third quarter of 2026 was 13.4%, compared to the second quarter of 2026 Adjusted EBITDA margin of 11.2%.⁷

Third Quarter 2026 Segment Results

The Company reports revenue, operating (loss) income and Adjusted EBITDA through three geographi