In This Article:
ChampionX (NASDAQ:CHX) Full Year 2023 Results
Key Financial Results
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Revenue: US$3.76b (down 1.3% from FY 2022).
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Net income: US$314.2m (up 103% from FY 2022).
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Profit margin: 8.4% (up from 4.1% in FY 2022). The increase in margin was driven by lower expenses.
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EPS: US$1.60 (up from US$0.77 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
ChampionX EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%.
The primary driver behind last 12 months revenue was the Production Chemical Technologies segment contributing a total revenue of US$2.40b (64% of total revenue). Notably, cost of sales worth US$2.62b amounted to 70% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$633.0m (77% of total expenses). Explore how CHX's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Energy Services industry in the US.
Performance of the American Energy Services industry.
The company's shares are up 5.8% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on ChampionX's balance sheet.
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