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Here's What Key Metrics Tell Us About ChampionX (CHX) Q2 Earnings
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For the quarter ended June 2024, ChampionX (CHX - Free Report) reported revenue of $893.27 million, down 3.6% over the same period last year. EPS came in at $0.37, compared to $0.49 in the year-ago quarter.
The reported revenue represents a surprise of -6.43% over the Zacks Consensus Estimate of $954.67 million. With the consensus EPS estimate being $0.45, the EPS surprise was -17.78%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ChampionX performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Production & Automation Technologies: $244.49 million versus the two-analyst average estimate of $256.26 million. The reported number represents a year-over-year change of -3.8%.
Revenue- Production Chemical Technologies: $569.58 million versus $612.41 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.8% change.
Revenue- Reservoir Chemical Technologies: $27.12 million compared to the $23.71 million average estimate based on two analysts. The reported number represents a change of +13.7% year over year.
Revenue- Drilling Technologies: $52.89 million versus the two-analyst average estimate of $52.85 million. The reported number represents a year-over-year change of -7.7%.
Shares of ChampionX have returned +4.1% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About ChampionX (CHX) Q2 Earnings
For the quarter ended June 2024, ChampionX (CHX - Free Report) reported revenue of $893.27 million, down 3.6% over the same period last year. EPS came in at $0.37, compared to $0.49 in the year-ago quarter.
The reported revenue represents a surprise of -6.43% over the Zacks Consensus Estimate of $954.67 million. With the consensus EPS estimate being $0.45, the EPS surprise was -17.78%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ChampionX performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Production & Automation Technologies: $244.49 million versus the two-analyst average estimate of $256.26 million. The reported number represents a year-over-year change of -3.8%.
- Revenue- Production Chemical Technologies: $569.58 million versus $612.41 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.8% change.
- Revenue- Reservoir Chemical Technologies: $27.12 million compared to the $23.71 million average estimate based on two analysts. The reported number represents a change of +13.7% year over year.
- Revenue- Drilling Technologies: $52.89 million versus the two-analyst average estimate of $52.85 million. The reported number represents a year-over-year change of -7.7%.
View all Key Company Metrics for ChampionX here>>>Shares of ChampionX have returned +4.1% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.