RE:Q4 2020 releasing 3.11 close ; CC 3.12ChampionX (CHX) announced Q4 results tonight after market close. Revenues in Q4 up 11% sequentially for the whole business and for their production and reservoir chemicals divisions revenues were up 9% and 45% respectively. EBITDA for those divisions increased 9% and 170% (law of small numbers) accordingly.
ChampionX I believe has the #1 market share in the production chemicals sales market in the Permian. Encouraging that the more stable production chem revenue and EBITDAs are increasing for them. I think CEUs real juice in the quarter will come from the dramatically higher rig count (and drilling chemical sales) from the quarter and guidance of that continuing through Q1.
Full disclosure - I own the stock.
GLTA