USA Compression reports Q4 EPS 2c, consensus 10c

Reports Q4 revenue $225.0M, consensus $220.8M. “Our Q4 results continued the trend of outstanding financial and operational results driven by high market demand for our exceptional level of compression services. Our fourth-quarter achievements consisted of consecutive-quarter record-setting revenues, Adjusted EBITDA, Distributable Cash Flow, and Distributable Cash Flow Coverage,” commented CEO Eric Long. “These financial results were made possible by near-record utilization, exiting 2023 over 94%, achieving record per-horsepower average revenue of $19.52, record average revenue-generating horsepower of approximately 3.41 million, and at the same time maintaining consistent operating margins. As we turn to 2024, we believe the large-horsepower compression market will continue to be historically tight as crude oil and natural gas production is expected to grow in the key basins in which we operate, and capital discipline is expected to remain prevalent in the oil and gas industry. We look forward to continuing to deliver high-quality service to our customers, and remain focused on improving our financial condition and returning value to our stakeholders.”