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KLX Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2018 10-Q, filed Aug 28, 2018. Its latest SEC filing is a SC 13G/A from Feb 11, 2019.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Distributes aerospace fasteners, consumables, and inventory-management services to aircraft makers, airlines, and maintenance providers; provides technical services and rental equipment to oil and gas exploration and production companies.

How Did They Make Money?

Customers pay for aerospace products and bundled supply services when products ship, are delivered, or are accepted; oilfield customers pay for technical services when performed and for rental equipment when it is rented.

FY2017 revenue

Who Were Their Customers?

Sells aerospace products directly to aircraft makers and suppliers, airlines, and maintenance providers; energy services are sold mainly to regional or independent oil companies.

Did Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2017 and turned 7 cents into free cash flow.

Operating income, FY2017
12% of revenue
▲ +67% vs FY2016 ($129.4M, 9%)
Net income, FY2017
3% of revenue
▲ +11% vs FY2016 ($48.2M, 3%)
Free cash flow, FY2017
7% of revenue
▲ +5% vs FY2016 ($115.4M, 8%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q2 FY2018, the three months to Jul 31, 2018
Revenue
▲ +22%
vs $430.6M in Q2 FY2017
Net income
▲ +68%
vs $20.7M in Q2 FY2017
  • Oct 9, 2018 Boeing completed its acquisition of KLX KLX became a wholly owned Boeing subsidiary, and the company requested Nasdaq delisting.
  • Sep 19, 2018 KLX spun off its energy services business KLX transferred the business to KLX Energy Services and distributed all shares of KLX Energy Services to KLX stockholders.

Held flat. Revenue was $1.7B in FY2017, about the same as the $1.7B of FY2014.

Who Did They Compete With?

Competes with Adept, Airbus, Alcoa/Arconic, Align, Aviall, Avic, Avio, Avnet, BASN, Boeing, Champion, Fastenal, Heico, Jamaica Bearings, Pattonair, Superior Energy Services, Schlumberger, Halliburton, Baker Hughes, and Weatherford

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