Welcome to our dedicated page for Archrock news (Ticker: AROC), a resource for investors and traders seeking the latest updates and insights on Archrock stock.
Archrock Inc (NYSE: AROC) is a leader in natural gas compression and energy infrastructure services, providing critical solutions for midstream operations across North America. This dedicated news hub offers investors and industry professionals centralized access to Archrock's latest corporate developments.
Discover official press releases covering earnings reports, operational milestones, and strategic initiatives. Stay informed about contract operations updates, aftermarket service expansions, and leadership announcements directly impacting the energy sector.
Key content categories include quarterly financial results, equipment fleet expansions, sustainability efforts, and partnerships within the natural gas value chain. Our curated collection ensures you never miss critical updates about AROC's role in enabling efficient energy transportation.
Bookmark this page for real-time access to Archrock's verified news filings and market-moving disclosures. Check back regularly to monitor how the company continues to shape natural gas infrastructure through technical expertise and operational excellence.
Archrock has announced the timing for its second quarter 2024 financial and operating results. The company will host a conference call on July 31, 2024, at 10:00 a.m. Eastern Time to discuss the results. The earnings report will be released prior to the conference call. To listen to the call live, visit www.archrock.com or dial 1 (800) 715-9871 in the U.S. and Canada, or 1 (646) 307-1963 for international calls using the access code 4749623. A replay of the webcast will be available for 90 days on Archrock’s website after the call.
Archrock (NYSE: AROC) has priced its public offering of 11,000,000 common stock shares at $21.00 per share. The offering, expected to close on July 24, 2024, aims to raise approximately $223 million in net proceeds. Underwriters have a 30-day option to purchase up to 1,650,000 additional shares. The funds will primarily finance Archrock's acquisition of Total Operations and Production Services, (TOPS). If the acquisition doesn't materialize, proceeds will be used for general corporate purposes. J.P. Morgan, Evercore ISI, Wells Fargo Securities, and Citigroup are acting as joint book-running managers for the offering.
Archrock (NYSE: AROC) has announced a public offering of 11,000,000 shares of its common stock, with an option for underwriters to purchase an additional 1,650,000 shares. The company plans to use the net proceeds to fund the cash portion of its previously announced acquisition of Total Operations and Production Services, (TOPS). If the TOPS acquisition doesn't materialize, the funds will be used for general corporate purposes. J.P. Morgan, Evercore ISI, Wells Fargo Securities, and Citigroup are acting as underwriters for the offering. The shares will be offered and sold under an effective shelf registration statement on Form S-3 filed with the SEC.
Archrock (NYSE: AROC) has announced a $983 million cash and stock acquisition of Total Operations and Production Services, (TOPS), a leading Permian Basin contract gas compression provider. This strategic move will expand Archrock's compression capacity in the Permian Basin by 30%, adding approximately 580,000 horsepower of predominantly young electric motor drive compression assets.
The transaction is expected to be immediately accretive to Archrock's earnings per share and cash available for dividend. It will enhance Archrock's positioning in lower carbon solutions and is projected to be more than 10% accretive to EPS and over 20% accretive to cash available for dividend per share in 2025. The deal is anticipated to close by the end of 2024, subject to regulatory approvals and closing conditions.
Archrock, Inc. (NYSE: AROC) reported strong first quarter 2024 results with revenue at $268.5 million, net income of $40.5 million, and adjusted EBITDA of $131.0 million. The company raised its 2024 adjusted EBITDA guidance to $510-540 million. Archrock's long-term debt decreased to $1.6 billion, with a leverage ratio of 3.2x. The company declared a quarterly dividend of $0.165 per share and repurchased common shares during the quarter. Shareholders can expect a quarterly dividend payment on May 14, 2024.
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