Key Points – KLX Energy Services said Q1 2026 was likely the low point of the year, with revenue of $145 million and adjusted EBITDA of $11.1 million hurt by seasonality, weather disruptions and customer delays.
The company also reported a net loss of about $24 million. – The Northeast Mid-Con was the standout segment, with revenue up 28% year over year to $52.5 million and adjusted EBITDA margin expanding to about 21%
By contrast, the Rocky Mountain and Southwest segments posted weaker results due to winter impacts and lower oil-directed activity. – Management expects a Q2 rebound, guiding for revenue of $162 million to $172 million and margin expansion as activity improves across all segments. KLX also said the second half of 2026 should be stronger, while liquidity stood at $48 million at quarter-end. KLX Energy Services (NASDAQ:KLXE) reported first-quarter 2026 revenue of $145 million and adjusted EBITDA of $11.1 million, with management describing the period as the likely low point for the fiscal year due to seasonal headwinds, weather disruptions and customer delays.
President and Chief Executive Officer Chris Baker said the quarter followed the company’s typical first-quarter pattern, including customer budget resets and the restart of completion programs after the holidays. He also cited Winter Storm Fern and customer drilling issues that delayed completion jobs late in March. Baker said more than $5 million of revenue was pushed into the second quarter across multiple districts because of those disruptions.