USA Compression Partners Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw strong revenue and margin growth, driven by the J-W acquisition and robust demand outlook. Integration and technology investments are enhancing efficiency, while extended equipment lead times and rising lube oil costs present challenges. Leverage remains below target, with disciplined capital allocation and M&A focus.
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Q1 2026 saw strong financial and operational results, driven by the J-W Power integration, record pricing, and high contracting rates for new horsepower. Guidance remains unchanged, with leverage and distribution coverage metrics improving and advanced planning mitigating supply chain risks.
Fiscal Year 2025
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Record 2025 results with Adjusted EBITDA of $613.8M and DCF of $385.7M, high utilization, and expanded horsepower following the J-W Power acquisition. 2026 guidance projects further growth, with $770M–$800M Adjusted EBITDA and significant capital investment planned.
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The acquisition adds 1.05 million horsepower, expands the geographic footprint, and is expected to be accretive to DCF in 2026 while reducing leverage below 4x. Integration will drive operational and tax synergies, with a focus on growth in key basins and customer diversification.
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Q3 2025 saw record revenues, strong margins, and improved leverage, prompting raised EBITDA and DCF guidance. Refinancing efforts reduced borrowing costs, while robust demand and pricing trends support continued growth into 2026.
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Record Q2 revenue and margins were achieved, with strong demand and utilization across basins. Guidance for 2025 is maintained, and long-term growth is expected from tech and utility investments. Leverage and distribution coverage remain within targets.
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Q1 2025 saw record revenue per horsepower, high utilization, and strong adjusted margins. Guidance for 2025 is maintained, with expansion capital back-end loaded and ongoing RFPs for 2026. Market consolidation and stable lead times support a positive outlook.
Fiscal Year 2024
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Record financial and operational results for Q4 and 2024, with high utilization and improved leverage. 2025 guidance projects stable EBITDA and cash flow, with growth capital focused on the Permian and ongoing efficiency initiatives.
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Record Q3 2024 results with double-digit revenue growth, high utilization, and robust margins driven by strong compression market demand. Raised full-year CapEx guidance due to higher redeployment costs and opportunistic asset purchases, while maintaining a disciplined outlook for 2025.
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Record Q2 results with all-time high utilization, revenue, and margins, supported by strong demand and disciplined pricing. 2024 guidance raised, with continued focus on deploying idle assets and managing capital structure amid robust market conditions.