NYSE$KGS
Kodiak Gas Services Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Kodiak Gas Services announced record revenues and Adjusted EBITDA, completed the acquisition of CSI Compressco, and raised full-year Adjusted EBITDA guidance.
Kodiak Gas Services reported record second-quarter results, driven by the acquisition of CSI Compressco. Total revenues reached $309.7 million, and Adjusted EBITDA was $154.3 million. The company increased its full-year Adjusted EBITDA guidance to $590 to $610 million and raised its estimate of cost synergies to over $30 million.
- Total revenues were $309.7 million, compared to $203.3 million in Q2 2023.
- Contract Services segment revenues were $276.3 million with a 64.0% Adjusted Gross Margin.
- Adjusted EBITDA reached a record $154.3 million, compared to $107.9 million in Q2 2023.
- The company increased full-year 2024 Adjusted EBITDA guidance to a range of $590 to $610 million.
Headline financials
Revenue & EPS history
Kodiak Gas Services · Revenue · Quarterly
$310M
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 Gas Services raised its full-year 2024 Adjusted EBITDA guidance to a range of $590 to $610 million and expects to generate Discretionary Cash Flow in the range of $365 to $385 million.
Tailwinds
- Raised full-year 2024 Adjusted EBITDA guidance to a range of $590 to $610 million, a $10 million increase to the low end of the range
- Expect to generate Discretionary Cash Flow in the range of $365 to $385 million in 2024
- Expect Contract Services revenues between $1,000 and $1,040 million
- Expect Other Services revenues between $120 and $140 million
- New unit deliveries are effectively fully contracted through 2025
Headwinds
- Unable to reconcile projected Adjusted EBITDA to projected net income (loss)
- Unable to reconcile Discretionary Cash Flow to projected net cash provided by operating activities
- Components of the calculations are inherently unpredictable
- The inability to project certain components of the calculation would significantly affect the accuracy of the reconciliations
- Discretionary Cash Flow assumes no change to Secured Overnight Financing Rate futures.
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 Q2 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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