Archrock reports Q4 EPS 21c, consensus 21c

Reports Q4 revenue $259.59M, consensus $253.98M. “During the quarter, Archrock sustained outstanding levels of utilization, pricing and profitability, capping a record-breaking year for the company,” said Brad Childers, Archrock’s president and CEO. “For the full year, we improved our period-end utilization to 96%, increased our contract operations gross margin by 300 basis points and grew our adjusted EBITDA by 24%. This step change in our earnings power enabled us to return more than $105 million in capital to our shareholders through dividend increases and the initiation of a share buyback program.”