ChampionX Corporation reported its fourth-quarter 2024 results, achieving revenue of $912.0 million and net income attributable to ChampionX of $82.8 million. The company's adjusted EBITDA reached $212.3 million, resulting in an adjusted EBITDA margin of 23.3%, marking its highest level as ChampionX. This performance highlights the company's strong operational model and profitability focus.
For the full year 2024, ChampionX generated $3.6 billion in revenue and $320 million in net income attributable to ChampionX. Full-year adjusted EBITDA was $785 million, with an adjusted EBITDA margin of 21.6%, representing a 107 basis point increase year-over-year. The company also demonstrated robust cash flow, with $460 million in free cash flow for the full year, achieving a 59% adjusted EBITDA to free cash flow conversion.
Cash flow from operating activities in Q4 2024 was $207.3 million, including a $48 million tax payment deferred to Q1 2025, and free cash flow was $170.1 million, converting 80% of adjusted EBITDA. ChampionX ended the year with approximately $1.2 billion of liquidity, comprising $508 million in cash and $675 million in available revolving credit facility capacity. The company anticipates global oil production growth in 2025 and expects positive performance from its production-oriented portfolio.
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