ChampionX Corporation ( (CHX) ) has released its Q4 earnings. Here is a breakdown of the information ChampionX Corporation presented to its investors.
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ChampionX Corporation is a global leader in providing chemistry solutions, artificial lift systems, and engineered equipment to enhance oil and gas production across the lifecycle of a well. The company is noted for its innovative products and digital technologies which contribute to safer, efficient, and sustainable industry practices.
ChampionX Corporation has reported a strong financial performance for the fourth quarter and full year of 2024. The company’s revenue for the fourth quarter stood at $912 million, with a net income of $82.8 million and an adjusted EBITDA of $212.3 million. For the entire year, ChampionX reported a total revenue of $3.6 billion, with a net income attributable to the company at $320.3 million.
Key highlights from the earnings report include a robust cash flow from operations amounting to $589.7 million for the year and a free cash flow of $460.5 million. The Production Chemical Technologies segment saw a sequential revenue increase driven by higher volumes in various markets, while Production & Automation Technologies faced typical seasonal declines. The company also highlighted significant achievements in digital product offerings and international market expansions.
ChampionX’s strategic initiatives have laid a strong foundation for continued growth. With a solid balance sheet and liquidity of approximately $1.2 billion, the company is well-positioned to leverage opportunities in the evolving oil and gas sector. Management remains optimistic about 2025, anticipating growth in global oil production and continued positive performance relative to market activity.
