NYSE$KGS
Kodiak Gas Services Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Kodiak Gas Services reported record quarterly Adjusted EBITDA and Free Cash Flow.
Kodiak Gas Services announced third quarter 2024 financial results, featuring record quarterly Adjusted EBITDA of $168.4 million and Free Cash Flow of $52.5 million. The company raised full-year 2024 Adjusted EBITDA guidance to a range of $600 to $610 million and provided an early outlook on 2025 Adjusted EBITDA.
- Contract Services segment revenue was $284.3 million with Adjusted Gross Margin Percentage of 66.0%.
- Net loss of $6.2 million included a $9.9 million long-lived asset impairment, a $10.4 million loss on asset sales and a $20.3 million non-cash, mark-to-market loss on interest rate hedges.
- Fleet utilization ended the third quarter at 96.4%, a sequential increase of 2.1%.
- The company repurchased one million shares for $25 million.
Headline financials
Revenue & EPS history
Kodiak Gas Services · Revenue · Quarterly
$325M
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 and an early outlook on 2025 Adjusted EBITDA.
Tailwinds
- Full-year 2024 Adjusted EBITDA is expected to be between $600 million and $610 million.
- Contract Services revenues are projected to be between $1,020 million and $1,040 million.
- Contract Services Adjusted Gross Margin Percentage is expected to be between 64% and 66%.
- Other Services revenues are projected to be between $125 million and $135 million.
- Other Services Adjusted Gross Margin Percentage is expected to be between 14% and 17%.
Headwinds
- Growth capital expenditures are projected to be between $210 million and $230 million.
- Maintenance capital expenditures are projected to be between $60 million and $70 million.
- Discretionary Cash Flow is expected to be between $365 million and $385 million.
- Adjusted EBITDA guidance cannot be reconciled to net income (loss) without unreasonable efforts.
- Discretionary Cash Flow guidance 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 Q3 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% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro