Archrock Inc Stock Price, News & Analysis

Archrock (NYSE:AROC) has announced it will release its fourth quarter and full-year 2024 financial results before hosting a conference call on Tuesday, February 25, 2025, at 9:00 a.m. Eastern Time. The company will discuss Q4 and full-year 2024 financial and operating results, along with providing annual 2025 guidance.

Investors can access the call via webcast on Archrock's website or by phone using the following numbers: 1 (800) 715-9871 (US) or 1 (646) 307-1963 (international), with access code 4749623. A replay will be available on the company's website for 90 days after the call.

Archrock (NYSE: AROC) has announced a 9% increase in its quarterly dividend to $0.19 per share, or $0.76 annually. This represents a 15% increase compared to Q4 2023. The dividend will be paid on February 19, 2025, to stockholders of record as of February 12, 2025.

This marks the fifth dividend increase since January 2023, reflecting the company's high utilization and transformed platform. CEO Brad Childers emphasized their commitment to increasing shareholder returns while maintaining prudent dividend coverage and leverage ratios. The company continues to invest in high-return assets to support customer needs and grow their natural gas compression business in response to robust market conditions.

Archrock (NYSE: AROC) reported strong Q3 2024 results with revenue of $292.2 million, up from $253.4 million in Q3 2023. Net income reached $37.5 million with EPS of $0.22, compared to $30.9 million and $0.20 in Q3 2023. The company increased its quarterly dividend by 6% to $0.175 per share and completed the acquisition of TOPS. Contract operations revenue grew 18% to $245.4 million, with adjusted gross margin at 67%. Based on strong performance, Archrock raised its full-year 2024 adjusted EBITDA guidance to $575-585 million.

Archrock has released its 2023 Sustainability Report, highlighting significant achievements in safety, environmental performance, and operational excellence. The company exceeded safety targets, achieving zero Lost Time Incident Rate for the third consecutive year and winning the GPSA Excellence in Safety Award. Key accomplishments include a 19% reduction in CO2 emissions intensity, 20% investment of organic growth capex in electric drive compression, and recognition as one of America's Most Responsible Companies by Newsweek.

The report coincides with Archrock's 70th Anniversary, showcasing the company's commitment to digitization, automation, and decarbonization through innovative technology investments. The report follows SASB midstream and TCFD reporting frameworks, demonstrating Archrock's dedication to transparency and sustainability standards.

Archrock (NYSE:AROC) has scheduled its third quarter 2024 earnings conference call for Tuesday, November 12, 2024, at 9:00 a.m. Eastern Time. The company will release its Q3 2024 financial and operating results before the call. Investors can access the call via webcast on www.archrock.com or by phone using the access code 4749623. A replay of the webcast will be available on the company's website for 90 days after the call.

Archrock (NYSE: AROC) announced an increased quarterly dividend of $0.175 per share, equivalent to $0.70 annually. The dividend will be paid on November 13, 2024, to stockholders of record as of November 6, 2024. This represents a 6% increase from Q2 2024 and a 13% increase year-over-year. The company attributes the increase to strong natural gas demand growth, platform transformation, and the accretive TOPS acquisition. Management expressed commitment to high-return investments while maintaining prudent dividend and leverage coverage ratios.

Archrock (NYSE: AROC) has completed its acquisition of Total Operations and Production Services, (TOPS), adding 580,000 horsepower to its fleet, including 500,000 operating horsepower and a contracted backlog of new equipment. The transaction strengthens Archrock's compression operations in the Permian Basin and establishes its leadership in electric motor drive compression. Archrock issued approximately 6.87 million new common shares to the sellers and funded the $826 million cash portion of the purchase price with proceeds from recent capital markets transactions. The acquisition is expected to be accretive and create significant shareholder value, capitalizing on the robust market for natural gas and compression while increasing returns to shareholders.

Archrock, Inc. (NYSE: AROC) has announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) for its pending acquisition of Total Operations and Production Services, . This expiration marks a significant milestone in the acquisition process, satisfying a important condition for the transaction's completion. The company anticipates the deal will close in the third quarter of 2024, subject to meeting other customary closing conditions. This development signifies progress in Archrock's strategic move to expand its operations and potentially strengthen its market position in the energy services sector.

Archrock (NYSE: AROC) has announced the closing of a $700 million senior notes offering by its subsidiary, Archrock Partners. The notes, due in 2032, carry a 6.625% interest rate. The proceeds will primarily fund the acquisition of Total Operations and Production Services, , and a tender offer for up to $200 million of Archrock Partners' existing 6.875% senior notes due 2027. Any remaining funds will be used for general corporate purposes, potentially including debt repayment.

The notes were offered privately to qualified institutional buyers and non-U.S. persons, in compliance with Securities Act regulations. This offering is not registered under the Securities Act and is subject to certain restrictions on resale and transfer.