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Fleet Horsepower
Total horsepower capacity the company owns, whether deployed or idle. Indicates growth potential and capital intensity—excess idle horsepower can be a source of near‑term growth if demand returns, but it also represents assets that incur maintenance and depreciation costs.Fleet horsepower showed modest organic expansion through 2025, then jumps sharply in early‑2026 after the accretive J‑W acquisition — a deliberate scale move that materially boosts revenue and cash-flow runway but also leaves a gap between total and active HP (idle units), and brings margin dilution and integration costs. Management's ~2.5%/yr growth target and in-house manufacturing capacity (100–125k HP/yr) mean future increases will be gradual absent more M&A; long lead times and incremental lube costs are the main near-term risks.
Date | Fleet Horsepower |
|---|---|
Jun 30, 2026 | 4.95M |
Mar 31, 2026 | 4.93M |
Dec 31, 2025 | 3.89M |
Sep 30, 2025 | 3.87M |
Jun 30, 2025 | 3.86M |
Mar 31, 2025 | 3.86M |
Dec 31, 2024 | 3.86M |
Sep 30, 2024 | 3.86M |
Jun 30, 2024 | 3.85M |
Mar 31, 2024 | 3.83M |