Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
ChampionX Corporation (CHX)
NASDAQ:CHX
Holding CHX?
Track your performance easily
Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.4Last Year’s EPS
$0.44Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -13.02%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The call presented a strong financial performance for ChampionX with significant growth in adjusted EBITDA, excellent free cash flow generation, and robust shareholder returns. However, the company faced challenges with flat revenue growth, declines in specific segments, and market uncertainties in North America. Despite these obstacles, the company remains optimistic about 2024, driven by international growth and opportunities in emissions technology.Company Guidance
In the fourth quarter of 2023, ChampionX Corporation reported a strong financial performance with an adjusted EBITDA margin of 21%, flat sequentially, and a 25% year-over-year growth in adjusted EBITDA. The company achieved a 430 basis point expansion in adjusted EBITDA margin and generated over $400 million in free cash flow, with a return on invested capital reaching 18%, up 400 basis points from the prior year. Revenue was reported at $944 million, showing a 6% increase internationally, led by 15% growth in the Middle East and Africa and 7% in Latin America. North American revenue remained flat, with Production Chemical Technologies growing 16% in the U.S. for the full year. ChampionX returned 83% of free cash flow to shareholders, amounting to $343 million, and announced an increase in its share repurchase program to $1.5 billion. For 2024, the company expects continued revenue and earnings growth, with an emphasis on productivity projects and capital returns to shareholders.Strong Adjusted EBITDA Growth
ChampionX delivered a 25% year-over-year growth in adjusted EBITDA, reaching over 20% margin, which expanded by 430 basis points. This was driven by higher volumes, productivity, cost management, and higher selling prices.
Record Cash Flow and Shareholder Returns
Generated over $400 million of free cash flow and returned $343 million to shareholders, up 52% from 2022. The company increased its share repurchase program to $1.5 billion and raised the regular cash dividend by 12%.
International Growth and Diversification
International growth was strong in the fourth quarter at 6% sequentially, led by 15% growth in Middle East and Africa region. Production Chemical Technologies business grew 16% in 2023 in the U.S., and Production & Automation Technologies grew 16% internationally.
Positive Outlook for 2024
Expecting a growth year for ChampionX in 2024, both internationally and in North America, driven by production-oriented businesses. The EPA's methane standards are expected to drive accelerated growth in emissions business.
---
CHX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CHX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $29.65 | $29.03 | -2.09% |
| Jul 24, 2024 | $33.98 | $33.98 | 0.00% |
| Apr 24, 2024 | $34.45 | $34.81 | +1.04% |
| Feb 05, 2024 | $26.35 | $28.77 | +9.18% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does ChampionX Corporation (CHX) report earnings?
ChampionX Corporation (CHX) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is ChampionX Corporation (CHX) earnings time?
ChampionX Corporation (CHX) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CHX EPS forecast?
CHX EPS forecast for the fiscal quarter 2024 (Q4) is $0.4.
---