Kodiak Gas Services Inc. (KGS) reports earnings

Kodiak Gas Services Inc. (KGS) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.

The filing reports total revenues of $1.16 billion, an increase from $850.4 million in the previous year, driven primarily by the acquisition of CSI Compressco and increased revenue-generating horsepower.

Operating expenses rose to $909.9 million from $606.3 million, with significant increases in cost of operations, depreciation, and selling, general and administrative expenses.

The company reported a net income of $50.3 million, compared to $20.1 million in the prior year, with the increase attributed to higher revenues and a decrease in interest expense.

Cash provided by operating activities was $328 million, up from $266.3 million, while cash used in investing activities increased to $292.5 million due to higher capital expenditures.

The company completed the acquisition of CSI Compressco on April 1, 2024, for $342.3 million, which contributed to the increase in assets and goodwill on the balance sheet.

Kodiak reported total debt of $2.63 billion, with a significant portion attributed to the ABL Facility and the issuance of 2029 Senior Notes.

The company declared dividends totaling $0.41 per share for the fourth quarter of 2024, with a total dividend payment of $36 million.

Kodiak's board approved a share repurchase program of up to $50 million, with $15 million of shares repurchased during the year.

The filing outlines various risks, including dependence on the natural gas and oil industry, competition, and regulatory changes that could impact future operations.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Kodiak Gas Services Inc. annual 10-K report dated March 7, 2025. To report an error, please email [email protected].