NYSE$KGS
Kodiak Gas Services Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Announced first quarter 2024 results, including record adjusted EBITDA, and increased full year 2024 guidance.
Kodiak Gas Services reported a strong start to 2024, marked by steady growth and solid execution in its core contract compression business. The company's focus on the Permian and other liquids-rich, associated gas basins allowed them to deliver strong first quarter results despite soft natural gas prices. With the closing of the CSI Compressco acquisition, Kodiak now has the largest contract compression fleet in the industry.
- Total revenues for the quarter were $215.5 million compared to $190.1 million in the first quarter of 2023
- Core Compression Operations segment revenues increased 2% sequentially and 9% over last year’s first quarter
- Net income was $30.2 million compared to a net loss of $12.3 million in the first quarter of 2023
- Record quarterly Adjusted EBITDA of $117.8 million compared to $106.3 million in the first quarter of 2023
Headline financials
Revenue & EPS history
Kodiak Gas Services · Revenue · Quarterly
$215M
Revenue by segment
Kodiak Gas Services · $231M total across 2 segments · Q3 2023
- Contract Services$187M—80.8%
- Other Services$44.3M—19.2%
Forward guidance
Kodiak is providing revised guidance for the full year 2024, incorporating three quarters of the financial impact of the CSI acquisition.
Tailwinds
- Total revenues between $1,125 million and $1,175 million.
- Adjusted EBITDA between $580 million and $610 million.
- Discretionary Cash Flow between $360 million and $390 million.
- Growth capital expenditures between $215 million and $235 million.
- Maintenance capital expenditures between $55 million and $65 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 11 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
+0.4%
Avg return
5 days after
-0.2%
Avg return
30 days after
71%
12 / 17 earnings
Positive
+8.3%
Q1 2026
Best reaction
-15.0%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +8.3% | +5.5% | -4.9% | |
| Q4 2025 | +4.0% | -1.2% | +7.1% | |
| Q3 2025 | -6.6% | -6.0% | +1.3% | |
| Q1 2025 | +3.9% | +6.7% | +8.4% | |
| Q4 2024 | -15.0% | -13.0% | -22.9% | |
| Q3 2024 | +6.3% | +11.7% | +26.7% | |
| Q2 2024 | -9.6% | -9.2% | -9.1% | |
| Q1 2024 | +1.0% | -3.1% | -8.2% | |
| Q4 2023 | -6.1% | -4.6% | +5.1% | |
| Q3 2022 | +5.1% | +7.9% | +9.2% | |
| Q4 2021 | +5.1% | +7.9% | +9.2% | |
| Q3 2023 | -0.5% | +3.7% | +7.2% | |
| Q2 2022 | +1.3% | -1.2% | -7.0% | |
| Q2 2023 | +1.3% | -1.2% | -7.0% | |
| Q1 2022 | +1.3% | -1.2% | -7.0% | |
| Q4 2022 | +1.3% | -1.2% | -7.0% | |
| Q1 2023 | +1.3% | +5.4% | -4.5% |
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