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Archrock, Inc. reports developments tied to its U.S. midstream natural gas compression business. The company provides contract operations for owned compression equipment and aftermarket services for customers that own compression equipment, so recurring updates center on fleet horsepower, contract operations margins, aftermarket service activity and demand from natural gas producers and transporters.
Company news also covers quarterly results, adjusted EBITDA, guidance, capital spending for new-build investments, dividends, share repurchases, asset sales and debt actions. Corporate updates may include Board dividend declarations, investor presentations and executive succession matters tied to Archrock's public-company governance.
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Archrock will host a conference call on May 3, 2023, at 10:00 a.m. Eastern Time to discuss its first quarter 2023 financial and operating results. The earnings report will be released prior to the call. Investors can access the call via live webcast on Archrock's website or by dialing 1 (888) 440-5667 for U.S. and Canada calls and 1 (646) 960-0476 for international calls, using access code 4749623. A replay of the call will be available for 90 days on the website.
Archrock specializes in midstream natural gas compression services in the energy sector, focusing on safe and environmentally responsible operations. It is a leader in providing compression services and aftermarket solutions across the U.S.
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Archrock reported strong financial results for Q4 and full-year 2022, with revenue reaching $218.9 million in Q4, up from $195.2 million in Q4 2021. Full-year revenue increased to $845.6 million from $781.5 million. Net income for Q4 was $10.5 million, compared to $6.0 million in 2021, while full-year net income rose to $44.3 million from $28.2 million. The company declared a $0.15 quarterly dividend, marking a 3% increase. 2023 guidance includes adjusted EBITDA of $400,000 to $430,000 and net income of $75,000 to $105,000. Utilization reached a record 93%.