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CHX ChampionX

ChampionX Corp. engages in the provision of chemistry programs and services for global upstream oil and natural gas industry. It operates under the following segments: Oilfield Performance, Specialty Performance, and Corporate and other Segment. It provides applications and technology for drilling, production, and midstream. The company was founded in 1928 and is headquartered in The Woodlands, TX.

Company profile

Ticker
CHX
Exchange
Website
CEO
Sivasankaran Somasundaram
Employees
Incorporated
Location
Fiscal year end
Former names
Apergy Corp, Wellsite Corp
SEC CIK
IRS number
823066826

CHX stock data

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Calendar

1 Mar 21
5 Mar 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from ChampionX earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 201.42M 201.42M 201.42M 201.42M 201.42M 201.42M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) 63.56M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a n/a 137.42M n/a n/a
Cash remaining n/a n/a n/a 64M n/a n/a
Runway (months of cash) n/a n/a n/a 1.0 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Feb 21 Galloway Robert K Common Stock Payment of exercise Dispose F No No 19.15 467 8.94K 31,370
22 Feb 21 Mahoney Paul E Common Stock Payment of exercise Dispose F No No 19.15 676 12.95K 91,715
22 Feb 21 Raza Syed Common Stock Payment of exercise Dispose F No No 19.15 400 7.66K 35,298
22 Feb 21 Wright Julia Common Stock Payment of exercise Dispose F No No 19.15 1,198 22.94K 62,472
22 Feb 21 Somasundaram Sivasankaran Common Stock Payment of exercise Dispose F No No 19.15 3,318 63.54K 322,847
98.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 286 277 +3.2%
Opened positions 42 42
Closed positions 33 48 -31.3%
Increased positions 97 90 +7.8%
Reduced positions 99 90 +10.0%
13F shares
Current Prev Q Change
Total value 3.32B 1.57B +111.6%
Total shares 196.32M 196.54M -0.1%
Total puts 216.2K 55.4K +290.3%
Total calls 141.4K 561.5K -74.8%
Total put/call ratio 1.5 0.1 +1449.7%
Largest owners
Shares Value Change
BLK Blackrock 21.98M $336.26M +3.6%
Vanguard 18.55M $283.82M -1.4%
Boston Partners 10.46M $160.07M -16.9%
Gates Capital Management 8.59M $131.45M -21.3%
TROW T. Rowe Price 7.07M $108.13M +0.7%
STT State Street 6.18M $94.6M -1.9%
GS Goldman Sachs 5.97M $91.38M +18.1%
Cramer Rosenthal MCGLYNN 4.74M $72.6M +38.9%
Paradice Investment Management 4.67M $71.39M +22.9%
Marshall Wace North America 4.62M $70.63M +0.3%
Largest transactions
Shares Bought/sold Change
Key 0 -4.55M EXIT
Citadel Advisors 1.5M -3.3M -68.8%
Norges Bank 2.58M +2.58M NEW
Gates Capital Management 8.59M -2.33M -21.3%
Boston Partners 10.46M -2.12M -16.9%
Vaughan Nelson Investment Management 1.93M +1.93M NEW
Susquehanna International 510.28K -1.91M -78.9%
Encompass Capital Advisors 1.57M -1.76M -52.8%
Nuveen Asset Management 2.99M +1.5M +100.9%
Clearbridge Advisors 2.39M +1.43M +149.8%

Financial report summary

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Management Discussion
  • Outside of incremental revenues associated with the Merger, we experienced an increase in revenue in North America across all our business segments in the second half of 2020 as compared to the first half of 2020. This increase was driven by higher activity levels as customer spending began to recover from the compressed levels experienced during the second quarter, coupled with higher demand for our polycrystalline diamond cutters as U.S. land rig count activity began to increase later in the year. Internationally, markets were more resilient during 2020 given the longer sales cycles relative to North America.
  • Revenue. Revenue for the consolidated entity increased $768.7 million, or 68%, in 2020 compared to the prior year driven by $1.2 billion of incremental revenues associated with our acquired Chemical Technologies business. The increase in revenue was offset by a decrease in Drilling Technologies revenue of $130.7 million year-over-year due to lower volumes and pricing pressure. Additionally, Production & Automation Technologies revenue decreased $268.4 million year-over-year, driven by lower volumes in North America and internationally, and the disposition of our pressure vessel manufacturing business in the second quarter of 2019.
  • Gross profit. Gross profit increased $32.1 million, or 9%, year-over year, primarily due to $251.8 million generated subsequent to the Merger date by our acquired Chemical Technologies business. This was offset by lower sales volumes in our Production & Automation Technologies and Drilling Technologies segments as well as an increase in consolidated depreciation expense of $74.1 million. The increase in depreciation expense is primarily due to a change in salvage value estimate for certain of our leased assets.
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