FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended March 31, 2026 For the transition period fromto Commission File No. 001-38609KLX Energy Services Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware36-4904146(State of Incorporation)(I.R.S. Employer Identification No.) 3040 Post Oak Boulevard, 15th FloorHouston, TX 77056(832) 844-1015 (Address, including zip code, and telephone number, including area code, of principal executive offices of registrant) Securities registered pursuant to Section 12(b) of the Act: Trading Symbol(s) Name of Each Exchange on Which Registered The Nasdaq Global Select Market KLXE Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Largeacceleratedfiler☐Accelerated filerNon-accelerated filer☒SmallerreportingcompanyEmerginggrowthcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ The registrant has one class of common stock, $0.01 par value, of which 19,911,759 shares were outstanding as of April30, 2026. KLX Energy Services Holdings, Inc.Form 10-QTable of Contents PART I - FINANCIAL INFORMATIONItem 1. Condensed Consolidated Financial Statements (Unaudited)Balance Sheets as ofMarch 31, 2026 andDecember 31, 2025Statements of Operations for the Three Months EndedMarch 31, 2026 and 2025Statements of Stockholders' Equity for the Three Months EndedMarch 31, 2026 and 2025Statements of Cash Flows for the Three Months EndedMarch 31, 2026 and 2025Notes to Condensed Consolidated Financial StatementsItem 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and ProceduresPART II - OTHER INFORMATIONItem 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities and Use of ProceedsItem 3. Defaults Upon Senior SecuritiesItem 4. Mine Safety DisclosuresItem 5. Other InformationItem 6. ExhibitsSIGNATURES ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS KLX Energy Services Holdings, Inc.Condensed Consolidated Balance Sheets(In millions of U.S. dollars and shares, except per share data) KLX Energy Services Holdings, Inc.Condensed Consolidated Statements of Operations(In millions of U.S. dollars, except per share data)(Unaudited) KLX Energy Services Holdings, Inc.Condensed Consolidated Statements of Cash Flows(In millions of U.S. dollars)(Unaudited) KLX Energy Services Holdings, Inc.Notes to Condensed Consolidated Financial Statements(Unaudited – U.S. dollars in millions, except per share data) Description of Business KLX Energy Services Holdings, Inc. (the “Company”, “KLXE”, “KLX Energy Services”, “we”, “us” or “our”) is a growth-orientedprovider of diversified oilfield services to leading onshore oil and natural gas exploration and production (“E&P”) companiesoperating in both conventional and unconventional plays in major active basins throughout the United States. The Companydelivers mission critical oilfield services focused on drilling, completion, production and intervention activities for technicallydemanding wells in over 60 service and support facilities located throughout the United States. The Company offers a complementary suite of proprietary products and specialized services that is supported by technicallyskilled personnel and a broad portfolio of innovative in-house manufacturing, repair and maintenance capabilities. KLXE’sprimary services include coiled tubing, directional drilling, fishing, flowback, fluid pumping, hydraulic fracturing rentals,pressure control, pressure pumping, rig-assisted snubbing, special situation services,