Key Takeaways

KLXE reported an in-line to slightly disappointing quarter, in my opinion. Revenue missed consensus expectations, but management maintained 2019 guidance. Management also forecasts strong FCF generation by the 4th quarter as the company will have completed its major capital projects by then. KLXE remains very attractive at its current valuation.

Additional Details

KLXE reported first quarter revenue of $145.8MM, representing growth of 1.3% relative to Q4 2018. Consensus expectations were for revenue of $157.4MM.

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