Ati Modak

Saurabh Pant

David Anderson

Scott Gruber

- **SLB** has completed its previously announced acquisition of **ChampionX Corporation**.  **[1723089_47b0c6c1a9f14496b4ee4120a4652fb9_0]** 
- Under the terms of the agreement, ChampionX shareholders received **0.735 SLB ordinary shares** in exchange for each ChampionX share, leading former ChampionX shareholders to hold approximately **9%** of SLB's outstanding ordinary shares.  **[1723089_47b0c6c1a9f14496b4ee4120a4652fb9_0]** 
- This strategic acquisition solidifies SLB's leadership in the production and recovery segment, enhancing its portfolio with ChampionX's production chemicals and complementary artificial lift, digital, and emissions technologies.  **[1723089_47b0c6c1a9f14496b4ee4120a4652fb9_0]** 
- SLB anticipates achieving approximately **$400 million** in annual pre-tax synergies from the acquisition within the first three years post-closing, through increased revenue and cost reduction.  **[1723089_47b0c6c1a9f14496b4ee4120a4652fb9_0]**

SLB Concludes ChampionX Acquisition

69e919275ba6c9a7291329420caccfc7e708ab4ee5433be6fe62b135c6ba3d8e

- ChampionX Corporation completed its merger on **July 16, 2025**, becoming an **indirect wholly owned subsidiary of Schlumberger Limited (SLB)**.  **[1723089_0001193125-25-159855_d46362d8k.htm:0]** **[1723089_0001193125-25-159855_d46362d8k.htm:5]** 
- Each share of ChampionX common stock was converted into the right to receive **0.735 shares of SLB Common Stock**.  **[1723089_0001193125-25-159855_d46362d8k.htm:2]** 
- ChampionX has initiated the process to **delist its common stock from The Nasdaq Stock Market LLC** and deregister it with the SEC.  **[1723089_0001193125-25-159855_d46362d8k.htm:4]** 
- In connection with the merger, ChampionX **terminated and repaid all outstanding obligations** under its Amended and Restated Credit Agreement.  **[1723089_0001193125-25-159855_d46362d8k.htm:1]** 
- The merger resulted in a **change of control** for ChampionX, with the prior board of directors and officers resigning, and new directors and a president appointed for the surviving entity.  **[1723089_0001193125-25-159855_d46362d8k.htm:5]** **[1723089_0001193125-25-159855_d46362d8k.htm:6]**

ChampionX Corporation completes merger with Schlumberger Limited subsidiary

a9f808a9bdf4c445d0f26dc7366e7b8c241e9cce4b5d68c48b2798c1c15de34c

- **SLB** has completed its previously announced **$8 billion all-stock acquisition** of ChampionX Corporation after receiving final regulatory approval from the UK Competition and Markets Authority, removing the last major hurdle **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]** **[1723089_9c19cc0dd799462c87c1efb11f8b203a]**.  
- Under the terms of the agreement, ChampionX shareholders received **0.735 shares of SLB common stock for each ChampionX share**, resulting in former ChampionX shareholders owning approximately **9% of SLB's outstanding shares** **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]**.  
- The merger closed on **July 16, 2025**, with ChampionX continuing as the surviving corporation and operating as an indirect, wholly owned subsidiary of **SLB** **[1723089_9c19cc0dd799462c87c1efb11f8b203a]**.  
- **SLB** expects to realize annual pretax synergies of approximately **$400 million within the first three years post-closing** and remains on track to return **$4 billion to shareholders in 2025** **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]**.  
- The acquisition enhances **SLB**'s portfolio, strengthening its leadership in production and recovery and expanding its presence in a **growing market** **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]**.  
- The transaction aims to create operational synergies by combining ChampionX's production chemicals and artificial lift systems with **SLB**'s digital reservoir analytics and automation tools **[1723089_9c19cc0dd799462c87c1efb11f8b203a]**.

SLB Completes $8 Billion ChampionX Acquisition After Final Approval

f498c84d2046dd575bc7c6a77db894e53b97636db4c6362e2a31e22c6cc99c87

- **SLB** has **completed its previously announced acquisition of ChampionX Corporation**.  **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]** 
- Under the terms of the agreement, ChampionX shareholders received **0.735 shares of SLB common stock for each ChampionX share**, resulting in former ChampionX shareholders owning approximately **9% of SLB's outstanding shares**.  **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]** 
- This strategic acquisition enhances SLB's portfolio, strengthening its leadership in production and recovery and expanding its presence in a **growing market**.  **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]** 
- SLB expects to realize annual pretax synergies of approximately **$400 million within the first three years post-closing** from the acquisition.  **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]**  SLB also remains on track to return **$4 billion to shareholders in 2025**.  **[1723089_9f1e684d782b42928cdcbd99b5f1e394_0]**

SLB Completes ChampionX Acquisition

ac057ab25f4b26e1a6be67bfcff8635e30c6ea61e3413cbf2d749be2f27dcb48

- Schlumberger Limited has received final regulatory approval from the UK Competition and Markets Authority for its **$8 billion all-stock acquisition** of ChampionX Corporation, removing the last major hurdle.  **[1723089_9c19cc0dd799462c87c1efb11f8b203a]** 
- The merger is set to close on **July 16, 2025**, with ChampionX continuing as the surviving corporation and operating as an **indirect, wholly owned subsidiary** of Schlumberger.  **[1723089_9c19cc0dd799462c87c1efb11f8b203a]** 
- The acquisition aims to create operational synergies by combining ChampionX's production chemicals and artificial lift systems with Schlumberger's digital reservoir analytics and automation tools.  **[1723089_9c19cc0dd799462c87c1efb11f8b203a]**

Schlumberger Receives Final Approval for ChampionX Acquisition

2aa8fbf8f2c55d9bec2d6a88e01d0bd9ce115a1a9cd191da974f591db70dfa9e

8db3d3a1bd30cae49ea5260f73385891e5fbc740b802b7943fe9e1d39b7a4162

db71f1a495636a1140ef914c794fa93ec520da29e4ce09c98bd9897ae532cb73

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30ad07134c500861a26d27fe9b3bb5f00f18ab1bee40ae71b6d6f7581307ef93

The **sharp increase in Q1 2024 Net Income** was driven by several key factors. Firstly, ChampionX recorded a **$29.9 million net gain from a sale-leaseback transaction**, which significantly boosted its income. Additionally, improved operating profit in multiple segments—most notably a **$35.7 million increase in Drilling Technologies** and a **$6.4 million increase in Production & Automation Technologies**—played an important role. The company also benefited from **reduced foreign currency transaction losses** and a **lower effective tax rate**, which further contributed to the overall gain in net income.  **[0001723089-24-000084_exhibit991-q12024earningsr.htm:10]** **[0001723089-24-000091_championx-20240331.htm:29]** **[0001723089-24-000091_championx-20240331.htm:30]** 

What drove the sharp increase in Q1 2024 Net Income?

The significant drop in **Income Before Income Taxes** in Q2 2024 was primarily due to several factors. First, there was no **gain on the sale-leaseback transaction** in Q2, unlike Q1 2024 where a **$29.9 million gain** had bolstered income. Additionally, **SG&A expenses increased by $10.6 million**, driven by **$15.1 million in transaction costs** related to the merger and **$2.5 million in restructuring charges**. There was also a decline in **gross profit by $19.4 million** due to lower sales volumes in key markets, with only a minor offset from a **$2.8 million foreign currency gain**. These combined factors led to the significant drop in Q2 2024 compared to the previous quarter.  **[0001723089-24-000111_championx-20240630.htm:30]** **[0001723089-24-000106_exhibit991-q22024earningsr.htm:10]** 

Why did Income Before Taxes drop so significantly in Q2 2024?

In Q2 2024, the **net income decline** was primarily driven by several factors: **lower revenue** by **28,869 thousand USD** (a 3% reduction) due to decreased orders, especially in Latin America; **increased SG&A expenses** by **10,581 thousand USD**, which included **15.1 million USD in transaction costs** associated with the merger agreement and **2.5 million USD in restructuring charges**; the **absence of a one-time gain** of **29,883 thousand USD** from a prior sale-leaseback transaction recorded in Q1 2024; and a significant **rise in the effective tax rate** from **19.0% to 33.5%**.  **[0001723089-24-000111_championx-20240630.htm:30]** **[0001723089-24-000106_exhibit991-q22024earningsr.htm:11]** 

What factors contributed to the notable decline in Q2 2024 Net Income?

The increase in SG&A expense in Q2 2024 was primarily driven by **transaction costs of $15.1 million** related to the merger agreement with SLB and **restructuring charges of $2.5 million** associated with headcount reductions within the Production & Automation Technologies segment and Chemical Technologies business.  **[0001723089-24-000111_championx-20240630.htm:30]** **[0001723089-24-000106_exhibit991-q22024earningsr.htm:8]** 

What drove the increase in SG&A expense in Q2 2024?

In Q4 2024, **ChampionX's gross profit improved** despite lower revenue because the company implemented **productivity initiatives** that enhanced operational efficiency and cost management, and it exercised **tighter control over discretionary spending**. These measures helped bolster gross margins even as revenue declined.  **[0001723089-25-000006_exhibit991-q42024earningsr.htm:9]** **[0001723089-25-000025_championx-20241231.htm:49]** 

Why did Gross Profit improve in Q4 2024 despite lower revenue?

ee0a5799da47eafbf269fa287afe2b9d7b2d67f89fdec90bf13d722c83307587

The significant increase in cash in Q1 2024 was primarily driven by **net cash flows from operating activities**, which contributed **$173,508 thousand** from operations. This positive impact was partially offset by cash outflows from **investing activities** of **$10,794 thousand**, **financing activities** of **$64,093 thousand**, and a negative **exchange rate impact** of **$1,161 thousand**—resulting in a net cash increase of **$97,460 thousand** during the quarter.  **[0001723089-24-000091_championx-20240331.htm:5]** **[0001723089-24-000091_championx-20240331.htm:7]** **[0001723089-24-000084_exhibit991-q12024earningsr.htm:8]** 

What drove the significant jump in cash in Q1 2024?

ChampionX’s surge in cash in Q4 2024 was driven primarily by robust operating performance. The company generated **$207.3 million** from operating activities and reported **$170.1 million** in free cash flow during the quarter, which directly boosted the cash balance.  **[0001723089-25-000006_exhibit991-q42024earningsr.htm:0]**  In addition, broader factors contributed to this improvement, such as a deferred tax payment of **$47.6 million** (moved to Q1 2025) and enhancements in working capital, which improved by **$13.5 million** during the year.  **[0001723089-25-000025_championx-20241231.htm:54]** 

What factors contributed to the surge in cash in Q4 2024?

The **rise in total assets in Q4 2024** was driven by several factors. **Firstly**, there was a significant increase in **cash and cash equivalents** from **$288,557 thousand** in 2023 to **$507,681 thousand** in 2024, fueled by strong operating cash flow.  **[0001723089-25-000025_championx-20241231.htm:66]**  **Secondly**, the company experienced **goodwill growth** due to acquisitions such as **Artificial Lift Performance** and **RMSpumptools**, which contributed an additional **$60.8 million** in goodwill.  **[0001723089-25-000025_championx-20241231.htm:66]** **[0001723089-25-000025_championx-20241231.htm:84]**  **Additionally**, there were increases in both **operating lease right-of-use assets** (rising from **$69,561 thousand** to **$100,427 thousand**) and **other non-current assets** (increasing from **$60,555 thousand** to **$72,948 thousand**), which further contributed to the overall rise in total assets. These increases were partially offset by a decline in **property, plant, and equipment, net** due to higher depreciation relative to new capital expenditures.  **[0001723089-25-000025_championx-20241231.htm:66]** **[0001723089-25-000025_championx-20241231.htm:78]** 

What has led to the rise in total assets in Q4 2024?

The slight decrease in long-term debt in Q4 2024 was primarily due to **mandatory amortization payments** on the 2022 Term Loan Facility, which requires a **1% annual amortization** of the initial commitment, paid quarterly.  **[0001723089-25-000025_championx-20241231.htm:85]** **[0001723089-25-000025_championx-20241231.htm:66]** **[0001723089-25-000025_championx-20241231.htm:51]** 

Why did long-term debt slightly decrease in Q4 2024?

e2a60941d0530184cb4cc3d4c4d60d11bf2523c5ae86a7cd644050ac11b17e32

The documents appear to offer conflicting information. One set of figures shows that net cash provided by operating activities dropped from **115,910 thousand USD in Q2 2023** to **67,625 thousand USD in Q2 2024**.  **[0001723089-23-000133_championx-20230630.htm:7]** **[0001723089-24-000111_championx-20240630.htm:7]**  However, another document explains the change as an increase—from **208,288 thousand USD in Q2 2023** to **241,133 thousand USD in Q2 2024**—attributing the change to an increase in net income and a reduced use of cash for working capital items (including lower inventory purchases and a decrease in accounts payable).  **[0001723089-24-000111_championx-20240630.htm:36]**  Because the documents do not clearly reconcile these differences, there is no definitive explanation provided for a steep drop in operating cash flow in Q2 2024.

What drove the steep drop in Operating Cash Flow in Q2 2024?

The **higher net increase in cash** in Q4 2024 is primarily driven by a significant improvement in operating cash flows and a substantial reduction in financing outflows. **Operating activities** contributed **$589,681 thousand**, boosted by factors such as deferred tax payments and improved profit margins and working capital management. Additionally, **lower cash used in financing activities**—especially due to reduced stock repurchases—played an important role, even though there were higher outflows in investing activities and some adverse effects from exchange rate changes. These combined factors led to the pronounced increase in cash for Q4 2024.  **[0001723089-25-000025_championx-20241231.htm:54]** 

Why is the Net Increase in Cash so high in Q4 2024?

e9aec249690a5cf9ca166d64102456d2207104bcebbb2c95938e6e630398414d

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e7574f292e3e756f1df09f7be892dc2278143b976571bd4f6070738718321c3c

- **Margins are expected to decrease in Q1 2024 due to increased freight costs, unfavorable business mix, and increased investments**, leading to higher decremental margins. The CEO mentioned they are expecting an **increase in freight costs in Q1**, and the unfavorable mix with less international revenue in Production Chemical Technologies will contribute to higher decrementals.  **[CHX_3372143_10]**
- The company has had **difficulties meeting revenue guidance**, especially in its **short-cycle North American businesses** like Drilling Technologies, where revenues came in below expectations in Q3 and Q4 of 2023. This unpredictability could indicate potential **revenue shortfalls in future quarters**.  **[CHX_3372143_9]**
- The company does **not expect pricing to contribute significantly to margin expansion in 2024**, and **raw material costs are expected to stay stable**, implying that future margin improvements will rely heavily on productivity gains and volume growth, which may be uncertain.  **[CHX_3372143_15]**

81b9bf5528b1c65e047d554301cdbb983981b1c15eaa56cb9ebb085077be91cb

- **ChampionX expects strong international revenue growth** in 2024, led by the Middle East, Sub-Saharan Africa, and Latin America, while also anticipating steady growth in North America driven by their Production Chemical Technologies and digital portfolios. This positions the company to benefit from robust global activity and increased operating expenditures by customers focused on production growth.  **[CHX_3372143_7]** ,  **[CHX_3372143_13]**
- **The emissions technology business is poised for accelerated growth** due to recent EPA methane regulations expanding the number of regulated facilities from **60,000 to as many as 1 million**, creating a multibillion-dollar market opportunity. ChampionX offers a comprehensive suite of emissions technologies and currently serves **60 emissions technology customers**, predominantly in North America, with expectations to grow internationally.  **[CHX_3372143_12]** ,  **[CHX_3372143_14]**
- **ChampionX demonstrated a strong commitment to shareholder returns**, returning **83% of free cash flow to shareholders** in 2023, exceeding their minimum threshold of 60%. The company maintains a disciplined capital allocation framework and plans to continue prioritizing shareholder returns while investing in high-impact opportunities.  **[CHX_3372143_12]**

b8f92164afe917545d4c6da228fa2a75fe7e9f9c50213912e39427b5c1c31a8a

Cash and cash equivalents (USD, thousands)

Receivables, net (USD, thousands)

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9e78f6c10dbf350c1a9483a1ecb2ce680bf7f50966c3510bb91ab292528d0352

9ada318bad5f037fb22197866eaf25d7664a15d15dd933729ba0eecf7d17afc3

| Name                  | Is Executive | Is Board Member | Position                                      | External Roles                                                                 | Short Bio                                                                                                                                                                                                                       | Start Date  |
|-----------------------|--------------|-----------------|-----------------------------------------------|--------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|
| Sivasankaran Somasundaram | true         | false           | President and CEO                             | None                                                                           | Sivasankaran Somasundaram has been the President and CEO of ChampionX since April 18, 2018. He led the spin-off from Dover Corporation and the merger with Chemical Technologies.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-23-000073_championx-20230327.htm:29]**                                         | 2018-04-18  |
| Kenneth M. Fisher     | true         | false           | Executive Vice President and CFO              | None                                                                           | Kenneth M. Fisher has served as the Executive Vice President and CFO since 2021. He previously held the same role at Noble Energy, Inc..  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]**                                                                                 | 2021        |
| Deric Bryant          | true         | false           | COO and President, Chemical Technologies      | None                                                                           | Deric Bryant joined CHX in June 2020 as COO and President, Chemical Technologies, following the acquisition of the Chemical Technologies business from Ecolab Inc..  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]**                                                       | 2020-06     |
| Robert K. Galloway    | true         | false           | President of Drilling Technologies            | None                                                                           | Robert K. Galloway has been President of Drilling Technologies since 2018, previously serving as President of US Synthetic.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]** **[0001723089-23-000011_championx-20221231.htm:16]**                                                                                          | 2018        |
| Paul E. Mahoney       | true         | false           | President of Production & Automation Technologies | None                                                                           | Paul E. Mahoney has been President of Production & Automation Technologies since 2018, previously President of Dover Artificial Lift.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]**                                                                                    | 2018        |
| William O’Dell, Jr.   | true         | false           | President of Oilfield and Specialty Performance | None                                                                           | William O’Dell, Jr. has been President of Oilfield and Specialty Performance since 2020, previously VP at Nalco Champion.  **[0001723089-25-000025_championx-20241231.htm:17]**                                                                                                   | 2020        |
| Syed Raza             | true         | false           | Senior Vice President and Chief Digital Officer | None                                                                           | Syed Raza has been the Senior Vice President and Chief Digital Officer since 2018, previously President of Dover Energy Automation.  **[0001723089-25-000025_championx-20241231.htm:17]**                                                                                         | 2018        |
| Julia Wright          | true         | false           | Senior Vice President, General Counsel, and Secretary | None                                                                           | Julia Wright is the Senior Vice President, General Counsel, and Secretary, confirmed as of December 26, 2024.  **[0001193125-24-285362_d822065d8k.htm:2]**                                                                                                              | N/A         |
| Jordan Zweig          | true         | false           | Senior Vice President and Chief Human Resources Officer | None                                                                           | Jordan Zweig joined CHX in 2020 as part of the Reverse Morris Trust transaction, previously VP at Ecolab.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]**                                                                                                                | 2020        |
| Carlos A. Fierro      | false        | true            | Director                                       | Senior Advisor at Guggenheim Securities; Advisory Board Member at Greenbelt Capital Partners | Carlos A. Fierro joined the Board on February 15, 2023, with over 35 years in the natural resources sector.  **[0001723089-24-000079_championx-20240401.htm:22]** **[0001723089-23-000073_championx-20230327.htm:25]** **[0001723089-23-000016_championx-20230215.htm:2]**                                                                                                       | 2023-02-15  |
| Gary P. Luquette      | false        | true            | Independent Director                          | None                                                                           | Gary P. Luquette has been an Independent Director since May 9, 2018, with extensive experience in the energy sector.  **[0001723089-23-000073_championx-20230327.htm:26]** **[0001723089-23-000062_championx-20230301.htm:26]** **[0001723089-23-000073_championx-20230327.htm:2]**                                                                                               | 2018-05-09  |
| Daniel W. Rabun       | false        | true            | Chairman of the Board of Directors            | Board Member at Golar LNG Ltd., APA Corporation, and Borr Drilling Ltd.        | Daniel W. Rabun has been Chairman since May 9, 2018, with significant leadership experience in the oil and gas industry.  **[0001723089-24-000079_championx-20240401.htm:26]** **[0001723089-23-000073_championx-20230327.htm:28]** **[0001723089-23-000062_championx-20230301.htm:28]** **[0001723089-22-000072_a2022proxystatement.htm:27]**                                                                                       | 2018-05-09  |
| Elaine Pickle         | false        | true            | Director                                       | Board Member at DT Midstream, Inc.; Board Member at Theatre Under the Stars    | Elaine Pickle joined the Board on February 15, 2023, with over 30 years of audit experience in the energy industry.  **[0001723089-24-000079_championx-20240401.htm:24]** **[0001723089-23-000073_championx-20230327.htm:27]** **[0001723089-23-000016_pressrelease20230215board.htm:0]**                                                                                                | 2023-02-15  |
| Stuart Porter         | false        | true            | Director                                       | Founder, Managing Partner, CEO, and CIO of Denham Capital; Board Member at GameSquare Holdings, Inc. | Stuart Porter has been a director since June 3, 2020, with extensive experience in energy investments.  **[0001723089-24-000079_championx-20240401.htm:24]**                                                                                                                    | 2020-06-03  |

374ff976c930fcf785f119c3a4d119dbc41b453187b5b22027d1ca05576264be

| Name                  | Position                                              | Start Date | Short Bio                                                                                                                                                                                                 |
|-----------------------|-------------------------------------------------------|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Sivasankaran Somasundaram | President and Chief Executive Officer                | 2018-04-18 | Sivasankaran ("Soma") Somasundaram has served as the President and CEO of ChampionX since April 18, 2018. He has extensive global business experience and led ChampionX's spin-off in 2018 and merger in 2020.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-23-000073_championx-20230327.htm:29]**  |
| Kenneth M. Fisher     | Executive Vice President and Chief Financial Officer  | 2021       | Kenneth M. Fisher has been the Executive Vice President and CFO of ChampionX since 2021. He was previously the EVP and CFO at Noble Energy, Inc. from 2009 to 2020.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]**                                   |
| Deric Bryant          | Chief Operating Officer and President, Chemical Technologies | 2020       | Deric Bryant has served as COO and President, Chemical Technologies at ChampionX since 2020. He held various leadership roles at Nalco Champion, including EVP and President, Upstream.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]** **[0001723089-23-000011_championx-20221231.htm:16]**             |
| Robert K. Galloway    | President, Drilling Technologies                      | 2018       | Robert K. Galloway has been the President of Drilling Technologies at ChampionX since 2018. He was previously President of US Synthetic at Dover Corporation from 2010 to 2018.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]** **[0001723089-23-000011_championx-20221231.htm:16]**                     |
| Paul E. Mahoney       | President, Production & Automation Technologies       | 2018       | Paul E. Mahoney has served as President, Production & Automation Technologies at ChampionX since 2018. He was previously President of Dover Artificial Lift at Dover Corporation from 2014 to 2018.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]** **[0001723089-23-000011_championx-20221231.htm:16]**  |
| William O'Dell, Jr.   | President, Oilfield and Specialty Performance         | 2020       | William O'Dell, Jr. has been President, Oilfield and Specialty Performance at ChampionX since 2020. He was previously VP, North America Oilfield Chemicals at Nalco Champion.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]** **[0001723089-23-000011_championx-20221231.htm:16]**                       |
| Syed Raza             | Senior Vice President and Chief Digital Officer       | 2018       | Syed Raza has served as SVP and Chief Digital Officer at ChampionX since 2018. He was previously President of Dover Energy Automation at Dover Corporation from 2016 to 2018.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]** **[0001723089-23-000011_championx-20221231.htm:16]**                        |
| Julia Wright          | Senior Vice President, General Counsel and Secretary  | N/A        | Julia Wright currently serves as SVP, General Counsel, and Secretary for ChampionX. She has been actively signing official filings and notices on behalf of ChampionX as of at least October 2023.  **[0001723089-24-000128_irannoticeq32024.htm:0]** **[0001723089-23-000160_irannoticeq32023.htm:0]**     |
| Jordan Zweig          | Senior Vice President and Chief Human Resources Officer | 2020       | Jordan Zweig has been SVP and Chief Human Resources Officer at ChampionX since 2020. He was previously VP and Head of Global HR at ChampionX, an Ecolab company, in 2020.  **[0001723089-25-000025_championx-20241231.htm:17]** **[0001723089-24-000011_championx-20231231.htm:16]** **[0001723089-23-000011_championx-20221231.htm:16]**                          |

1ca8d40fdd6e13ad38479e51768067a17fdbbcc13a00df62e98d0dc00d133813

Current Assets (USD, thousands)

Cash and Cash Equivalents (USD, thousands)

Accounts Receivable (USD, thousands)

Inventory (USD, thousands)

Non-Current Assets (USD, thousands)

Property, Plant, and Equipment (PP&E) (USD, thousands)

Intangible Assets (USD, thousands)

Current Liabilities (USD, thousands)

Accounts Payable (USD, thousands)

Short-term Debt (USD, thousands)

Accrued Expenses (USD, thousands)

Non-Current Liabilities (USD, thousands)

Long-term Debt (USD, thousands)

Lease Liabilities (USD, thousands)

Deferred Tax Liabilities (USD, thousands)

Shareholders' Equity (USD, thousands)

Retained Earnings (USD, thousands)

Common Stock (USD, thousands)

Additional Paid-in Capital (USD, thousands)

eb4e92584fa914d87b7f03e5cbff0760e2f9d15700c15c05308e4a4ca538533d

United States

Latin America

Middle East & Africa

Canada

Europe

Asia-Pacific

Australia

Other

Total Revenue

3b55d8d253289bd1af5be6b3cc652222aa9a03622cad0a59a520619e7281199f

Cost of Goods Sold (COGS) (USD, thousands)

SG&A (USD, thousands)

R&D (USD, thousands)

Depreciation and Amortization (USD, thousands)

Interest Expense (USD, thousands)

Operating Income (EBIT) (USD, thousands)

EPS - Basic (USD)

EPS - Diluted (USD)

d00c037c80613382a18669c9faf97f33c530d8b0bd9fa5397ae5ad2f5d509fc2

Production Chemical Technologies

- Product Revenue

- Service Revenue

- Lease and Other Revenue

Production & Automation Technologies

Drilling Technologies

Reservoir Chemical Technologies

Corporate and Other

71bd350067366a7cf4ad47f6c273f13ce858fdc080457485b1948230d3f51a7a

Adjustments for Non-Cash Items (USD, thousands)

Stock-Based Compensation (USD, thousands)

Changes in Working Capital (USD, thousands)

Capital Expenditures (USD, thousands)

Proceeds from / Repayments of Debt (USD, thousands)

Share Repurchases (USD, thousands)

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Net Change in Cash (USD, thousands)

94657b73290db0d14eb11311b2e78ac112b8f19b937c5521dacfa8c6cff06dd5

Key competitor in the Production Chemical Technologies, Reservoir Chemical Technologies, and Production & Automation Technologies segments. Competes in oil and gas production and drilling equipment manufacturing and supply.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, offering chemical solutions for oil and gas production.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, providing chemical solutions for oil and gas operations.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, offering chemical and drilling solutions.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, providing chemical solutions for oilfield operations.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, specializing in chemical solutions for oil and gas production.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, offering chemical solutions for oilfield applications.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, providing specialty chemicals for oil and gas production.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production Chemical Technologies and Reservoir Chemical Technologies segments, offering chemical solutions for oilfield operations.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Key competitor in the Production & Automation Technologies segment, providing oilfield services and equipment.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Key competitor in the Production & Automation Technologies and Drilling Technologies segments, offering oilfield services and drilling solutions.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production & Automation Technologies segment, providing oilfield equipment and services.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production & Automation Technologies segment, offering oilfield services and equipment.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Production & Automation Technologies segment, providing tubular solutions for oil and gas operations.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Key competitor in the Drilling Technologies segment, specializing in polycrystalline diamond cutter (PDC) technology.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Competes in the Drilling Technologies segment, offering advanced PDC technology for drilling applications.  **[0001723089-25-000025_championx-20241231.htm:9]** 

Compete in the Drilling Technologies segment, providing polycrystalline diamond cutter (PDC) technology and related products.  **[0001723089-25-000025_championx-20241231.htm:9]** 

d10361094c9f73e7aec331028cbebd8a6518586ceddef871fd976f74e4c89afa

1. Your Production & Automation Technologies segment experienced a 6% sequential revenue decline and an 11% decrease in adjusted EBITDA due to seasonality and deferred digital purchases; how do you plan to address these challenges to ensure consistent growth in this segment?  **[CHX_3372143_4]** 
2. With your Drilling Technologies segment revenue down 15% sequentially and 13% year-over-year, largely due to lower U.S. land rig counts and customer destocking, what specific strategies are you implementing to mitigate these industry headwinds and improve performance in this segment?  **[CHX_3372143_4]** **[CHX_3372143_3]** 
3. Despite strong growth in Production Chemical Technologies, your overall fourth-quarter revenue was flat sequentially and down 4% year-over-year; can you elaborate on your plans to drive top-line growth across all segments amid competitive pressures and market uncertainties?  **[CHX_3372143_3]** **[CHX_3372143_1]** 
4. Given the anticipated increase in freight costs impacting first-quarter margins and the expectation of stable pricing in 2024, how confident are you in achieving margin expansion primarily through productivity improvements, and what specific initiatives will support these gains?  **[CHX_3372143_15]** **[CHX_3372143_10]** 
5. Considering Reservoir Chemical Technologies saw a 15% sequential and 17% year-over-year revenue decline due to exiting low-margin product lines, how do you intend to reposition this segment for sustainable growth, and what are your expectations for its future profitability?  **[CHX_3372143_4]** **[CHX_3372143_3]** 

61a541a5b977d29cbc614fb617893ce26401eda0058198e0621901d849b4f400

ChampionX Corporation (CHX) is a global leader in providing innovative solutions and technologies to the oil and gas industry. The company specializes in enhancing oil and gas production, transportation, and sustainability through its diverse portfolio of chemical solutions, artificial lift systems, and advanced digital technologies. CHX serves the upstream and midstream markets, offering products and services that address critical challenges such as corrosion control, flow assurance, and asset optimization.  **[0001723089-24-000011_championx-20231231.htm:73]** **[0001723089-25-000025_championx-20241231.htm:3]** 

1. **Production Chemical Technologies** - Provides chemical solutions to manage corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related challenges in oil and gas production and midstream markets.  **[0001723089-24-000011_championx-20231231.htm:73]** **[0001723089-25-000025_championx-20241231.htm:3]**   
2. **Production & Automation Technologies** - Designs, manufactures, and services artificial lift equipment, digital automation solutions, and other production equipment to optimize oil and gas extraction and monitoring.  **[0001723089-24-000011_championx-20231231.htm:73]** **[0001723089-25-000025_championx-20241231.htm:3]**   
3. **Drilling Technologies** - Develops and markets polycrystalline diamond cutters and bearings for oil and gas drill bits under the US Synthetic brand.  **[0001723089-24-000011_championx-20231231.htm:73]** **[0001723089-25-000025_championx-20241231.htm:3]**   
4. **Reservoir Chemical Technologies** - Manufactures specialty products for well stimulation, construction (e.g., drilling and cementing), and remediation in the oil and gas industry.  **[0001723089-24-000011_championx-20231231.htm:73]** **[0001723089-25-000025_championx-20241231.htm:3]**

d691b521f58401981f9d294e742e93981a81aae3b4454cc92f0f598053919160

| Program Details         | Program 1               | Program 2               | Program 3               |
|-------------------------|-------------------------|-------------------------|-------------------------|
| **Approval Date**       | **March 7, 2022**  **[0001723089-25-000025_championx-20241231.htm:47]**   | **October 24, 2022**  **[0001723089-25-000025_championx-20241231.htm:47]** | **January 31, 2024**  **[0001723089-25-000025_championx-20241231.htm:47]** |
| **End Date/Duration**   | No time limit  **[0001723089-25-000025_championx-20241231.htm:47]**        | No time limit  **[0001723089-25-000025_championx-20241231.htm:47]**        | No time limit  **[0001723089-25-000025_championx-20241231.htm:47]**        |
| **Total Additional ($M)** | 250  **[0001723089-25-000025_championx-20241231.htm:47]**                | 500  **[0001723089-25-000025_championx-20241231.htm:47]**                  | 750  **[0001723089-25-000025_championx-20241231.htm:47]**                  |
| **Remaining ($M)**      | 0                      | 0                      | **996.7**  **[0001723089-25-000025_championx-20241231.htm:47]**           |
| **Details**             | Initial authorization  **[0001723089-25-000025_championx-20241231.htm:47]**  | Increased total to $750M  **[0001723089-25-000025_championx-20241231.htm:47]**  | Increased total to $1.5B  **[0001723089-25-000025_championx-20241231.htm:47]**  |

5428b3f03071384243ae9162206d941e801d408005c8fe4cc6bb6faaf75b99b6

23794d91c53ae875c8e247d72561e35d9d06ee07c70c9e0dbcc977a6d161504a

ChampionX (CHX)

Analyst Earnings Quarterly Reports

Executives

Paul Sims

Samantha Blons

Board Members

Matthias Abrell

Analyst Coverage

Ati Modak

Saurabh Pant

David Anderson

Scott Gruber

Latest news

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