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ChampionX: 4Q Earnings Snapshot

·1 min read

THE WOODLANDS, Texas (AP) _ ChampionX Corporation (CHX) on Tuesday reported fourth-quarter net income of $7.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the The Woodlands, Texas-based company said it had profit of 4 cents. Earnings, adjusted for non-recurring costs, came to 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The oil and gas drilling technology company posted revenue of $706.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $647.7 million.

For the year, the company reported a loss of $743.9 million, or $5.01 per share, swinging to a loss in the period. Revenue was reported as $1.9 billion.

ChampionX shares have climbed 25% since the beginning of the year. The stock has fallen 17% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHX at https://www.zacks.com/ap/CHX