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● ● ● ● ● KLX Energy Services HOUSTON , TX - September 9 , 2021 - KLX Energy Services Holdings , Inc. ( Nasdaq : KLXE ) ( “ KLXE " or the " Company " ) today reported its financial results for the fiscal second quarter ended July 31 , 2021 . Fiscal Second Quarter 2021 Highlights ● FOR IMMEDIATE RELEASE NEWS RELEASE KLX Energy Services Keefer M. Lehner , EVP & CFO 832-930-8066 IR@klxenergy.com Contacts : Dennard Lascar Investor Relations Ken Dennard / Natalie Hairston ( 713 ) 529-6600 KLXE@dennardlascar.com KLX ENERGY SERVICES HOLDINGS , INC . REPORTS FISCAL SECOND QUARTER 2021 RESULTS second quarter 2021 revenue of $ 111.9 mil sequentially from the fiscal first quarter 2021 increased $ 21.1 million , or 23.2 % , Revenue has improved every month during fiscal 2021 Fiscal second quarter 2021 net loss was $ 25.0 million , decreasing 32.1 % compared to $ 36.8 million for the fiscal first quarter 2021 Fiscal second quarter 2021 Adjusted EBITDA of $ 0.6 million was positive for the first time since fiscal first quarter 2020 and increased $ 10.0 million sequentially from fiscal first quarter 2021 Ended fiscal second quarter 2021 with an available liquidity position of $ 57.2 million , including $ 39.4 million in cash Fully implemented additional $ 4.4 million of annualized cost savings during the fiscal second quarter 2021 and expect to realize the full quarterly benefit beginning in the fiscal third quarter 2021 * See " Non - GAAP Financial Measures " at the end of this release for a discussion of Adjusted EBITDA , Adjusted EBITDA margin , free cash flow , net working capital and their reconciliation to the most directly comparable financial measure calculated and presented in accordance with U.S. generally accepted accounting principles ( " GAAP " ) . We have not provided reconciliations of our future expectations as to Adjusted EBITDA or Adjusted EBITDA margin as such reconciliation is not available without unreasonable efforts . In addition , for comparative purposes , we have also presented supplemental pro forma combined financial information for the three months ended July 31 , 2020 , giving effect to the Company's acquisition ( the " Merger " ) of Quintana Energy Services , Inc. ( " QES " ) as if it had occurred on February 1 , 2020 . Chris Baker , President and Chief Executive Officer of KLXE , stated , “ We are very pleased that our fiscal second quarter revenue grew 23 % sequentially , exceeding our guidance of 15 % to 20 % . This sequential improvement was supported by higher activity levels and increased pricing across many of our service lines . Fueled by our improved topline , our merger synergies and additional incremental cost savings realized during the fiscal second quarter , we grew Adjusted EBITDA sequentially by $ 10 million from fiscal first quarter 2021 levels and generated positive Adjusted EBITDA for the first time since fiscal first quarter 2020 . " Looking forward , we believe improved pricing and activity will continue to drive positive results , with fiscal third quarter revenue expected to increase between 8 % to 12 % , " concluded Baker . 1