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ChampionX (CHX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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ChampionX (CHX - Free Report) reported $926.6 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 0.6%. EPS of $0.49 for the same period compares to $0.28 a year ago.
The reported revenue represents a surprise of -5.29% over the Zacks Consensus Estimate of $978.4 million. With the consensus EPS estimate being $0.45, the EPS surprise was +8.89%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ChampionX performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Production & Automation Technologies: $254.16 million compared to the $264.46 million average estimate based on two analysts. The reported number represents a change of +4.9% year over year.
Revenue- Drilling Technologies: $57.32 million compared to the $57.48 million average estimate based on two analysts. The reported number represents a change of -0.9% year over year.
Revenue- Production Chemical Technologies: $574.30 million compared to the $624.24 million average estimate based on two analysts. The reported number represents a change of +4% year over year.
Revenue- Corporate and other: $16.97 million compared to the $12.50 million average estimate based on two analysts. The reported number represents a change of -52.6% year over year.
Revenue- Reservoir Chemical Technologies: $23.85 million compared to the $26.06 million average estimate based on two analysts. The reported number represents a change of -45.9% year over year.
Adjusted EBITDA- Production Chemical Technologies: $116.79 million versus $115.47 million estimated by two analysts on average.
Adjusted EBITDA- Production & Automation Technologies: $60.71 million versus the two-analyst average estimate of $61.49 million.
Adjusted EBITDA- Corporate and Other: -$9.85 million versus the two-analyst average estimate of -$7.12 million.
Adjusted EBITDA- Reservoir Chemical Technologies: $4.21 million versus $4.02 million estimated by two analysts on average.
Adjusted EBITDA- Drilling Technologies: $14.38 million versus $13.86 million estimated by two analysts on average.
Shares of ChampionX have returned +22.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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ChampionX (CHX) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
ChampionX (CHX - Free Report) reported $926.6 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 0.6%. EPS of $0.49 for the same period compares to $0.28 a year ago.
The reported revenue represents a surprise of -5.29% over the Zacks Consensus Estimate of $978.4 million. With the consensus EPS estimate being $0.45, the EPS surprise was +8.89%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ChampionX performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Production & Automation Technologies: $254.16 million compared to the $264.46 million average estimate based on two analysts. The reported number represents a change of +4.9% year over year.
- Revenue- Drilling Technologies: $57.32 million compared to the $57.48 million average estimate based on two analysts. The reported number represents a change of -0.9% year over year.
- Revenue- Production Chemical Technologies: $574.30 million compared to the $624.24 million average estimate based on two analysts. The reported number represents a change of +4% year over year.
- Revenue- Corporate and other: $16.97 million compared to the $12.50 million average estimate based on two analysts. The reported number represents a change of -52.6% year over year.
- Revenue- Reservoir Chemical Technologies: $23.85 million compared to the $26.06 million average estimate based on two analysts. The reported number represents a change of -45.9% year over year.
- Adjusted EBITDA- Production Chemical Technologies: $116.79 million versus $115.47 million estimated by two analysts on average.
- Adjusted EBITDA- Production & Automation Technologies: $60.71 million versus the two-analyst average estimate of $61.49 million.
- Adjusted EBITDA- Corporate and Other: -$9.85 million versus the two-analyst average estimate of -$7.12 million.
- Adjusted EBITDA- Reservoir Chemical Technologies: $4.21 million versus $4.02 million estimated by two analysts on average.
- Adjusted EBITDA- Drilling Technologies: $14.38 million versus $13.86 million estimated by two analysts on average.
View all Key Company Metrics for ChampionX here>>>Shares of ChampionX have returned +22.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.