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Horsepower Utilization Rate
Share of the company’s total horsepower that is currently deployed and earning revenue. High utilization indicates strong demand and better fixed‑cost absorption; low or falling utilization highlights spare capacity, seasonal weakness, or potential margin risk if idle assets remain costly to maintain.After a steady climb into the mid‑90s, utilization has flattened and recently dipped into the low‑90s largely due to the JW acquisition adding idle horsepower — this is a timing/structural mix issue, not falling demand. Management’s >90% pre‑contracting on new horsepower, record pricing and stronger small‑hp deployment support a re‑acceleration, but extended engine lead times and JW’s lower gross margins mean any utilization-driven margin recovery may be gradual and could pressure near‑term leverage as new units are delivered.
Date | Horsepower Utilization Rate |
|---|---|
Jun 30, 2026 | 92.00 |
Mar 31, 2026 | 92.00 |
Dec 31, 2025 | 94.70 |
Sep 30, 2025 | 94.00 |
Jun 30, 2025 | 94.20 |
Mar 31, 2025 | 94.40 |
Dec 31, 2024 | 94.60 |
Sep 30, 2024 | 94.40 |
Jun 30, 2024 | 95.00 |
Mar 31, 2024 | 94.80 |