KLX, Inc. (KLXI) Sees Strong Q1, Raises FY17 Outlook

KLX Inc. (NASDAQ: KLXI) plans to report strong first quarter financial results for the quarter ending April 30, 2017 when the Company reports its financial results in May 2017. The Company also announced it is raising its financial guidance for the year ending January 31, 2018 (Fiscal 2017).

The new Fiscal 2017 financial guidance assumes the recognition in Fiscal 2017 of previously deferred revenues and earnings from 2016, and in addition, an approximate 2 percent increase in consolidated revenues and a 3.5 percent increase in adjusted net earnings and adjusted net earnings per diluted share, in each case from previously announced fiscal 2017 financial guidance.

The Company’s new Fiscal 2017 financial guidance with respect to the following financial metrics is as follows:

• Consolidated revenues of approximately $1.75 billion (*** consensus is $1.7 billion)
• Consolidated operating earnings of approximately $222 million
• Adjusted net earnings of approximately $157 million
• Adjusted net earnings per diluted share of approximately $3.00 (*** consensus is $1.95)

Adjusted net earnings and adjusted net earnings per diluted share are non-GAAP financial measures that reflect net earnings before amortization and non-cash compensation expense, and includes the tax benefit from the amortization of tax deductible goodwill.

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