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ChampionX
ChampionX (CHX) investor relations material
ChampionX has been acquired
ChampionX Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary29 Apr, 2025
Executive summary
Q1 2025 revenue was $864.5 million, down 6% year-over-year and 5% sequentially, mainly due to lower international sales and seasonal declines.
Net income attributable to ChampionX was $85.8 million, with diluted EPS at $0.44, down from $0.58 last year; adjusted EBITDA reached $190.9 million with a 22.1% margin.
The company entered a definitive all-stock merger agreement with SLB, with each share to be converted into 0.735 shares of SLB, pending regulatory and shareholder approvals.
A definitive agreement was signed to sell US Synthetic Corporation, the Drilling Technologies segment, for $300 million, pending closing conditions and the SLB merger.
Strong liquidity position with $1.2 billion available, including $527 million in cash and $674 million in revolving credit capacity.
Financial highlights
Gross profit for Q1 2025 was $291.5 million, with a gross margin of 33.7%.
Operating cash flow was $66.8 million, down from $173.5 million in Q1 2024; free cash flow was $38.6 million.
Capital expenditures were $31.3 million, in line with the prior year.
Adjusted EBITDA margin was 22.1%, up from 20.8% a year ago.
Free cash flow to adjusted EBITDA ratio was 20%.
Outlook and guidance
No quarterly guidance provided due to the pending SLB acquisition.
Management expects oil prices to remain under pressure for the remainder of 2025 due to OPEC+ production increases and tariffs, but anticipates long-term cyclicality.
Inflation is moderating, but tariffs and trade measures may impact input costs; the company aims to offset these through price increases and productivity initiatives.
The company projects 2025 capital spending at 4% of revenue and expects to fund capex and debt reduction through earnings and working capital improvements.
Management expects positive performance relative to the oil and gas market in 2025, supported by a resilient production-oriented portfolio.
Assess impact of trade policy changes.
Explain drivers of Reservoir Tech growth.
What is the status of the SLB acquisition?
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ChampionX
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Frequently asked questions
ChampionX Corp provides chemistry solutions, artificial lift systems, and drilling technologies for oil and gas production. The company serves upstream operators with services that enhance reservoir performance and optimize production. It is headquartered in The Woodlands, Texas, and its shares are listed on the NASDAQ.
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