Kodiak Gas Services Inc Stock Price, News & Analysis

Kodiak Gas Services (NYSE: KGS) reported third-quarter 2025 results and raised full-year discretionary cash flow guidance. Key Q3 metrics: total revenues $322.7M, Contract Services revenue $297.0M, adjusted EBITDA $174.7M, adjusted net income $31.5M, and a net loss $14.0M that included a $33.3M loss on disposal of Mexico operations and a $28.0M reserve for Texas sales/use tax.

Cash flow highlights: discretionary cash flow $116.7M (+13.2% YoY), free cash flow $33.5M, and updated full-year 2025 discretionary cash flow guidance of $450M–$470M. Operationally, fleet utilization rose to 97.6%, revenue-generating horsepower increased, and the company declared a quarterly dividend of $0.49 per share while returning >$90M to shareholders YTD.

Kodiak Gas Services (NYSE: KGS) announced a $0.49 per share quarterly cash dividend for Q3 2025, payable November 13, 2025 to holders of record as of November 3, 2025. Kodiak Gas Services LLC will pay a parallel $0.49 per unit distribution on the same dates.

The company will release Q3 2025 results on November 4, 2025 after market close and host a conference call and live webcast on November 5, 2025 at 11:00 a.m. ET. Telephonic replay and webcast replay will be available through stated access links and codes.

Kodiak Gas Services (NYSE: KGS) has announced the pricing of additional senior unsecured notes through its subsidiary. The offering consists of $170 million of 6.500% notes due 2033 and $30 million of 6.750% notes due 2035.

The total $200 million offering is expected to close on September 22, 2025. The company plans to use the net proceeds to repay a portion of its outstanding revolving asset-based loan credit facility. The notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

Kodiak Gas Services (NYSE: KGS) has announced a private offering of $200 million in additional 6.500% senior unsecured notes due 2033. The notes will be issued through its subsidiary, Kodiak Gas Services, LLC, under the existing indenture dated September 5, 2025.

The company plans to use the net proceeds to repay a portion of its outstanding revolving asset-based loan credit facility. The offering is restricted to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, and the notes will not be registered under the Securities Act of 1933.

EQT Infrastructure, through its affiliate Frontier TopCo Partnership, has completed an underwritten public offering of 10 million shares of Kodiak Gas Services (NYSE: KGS) common stock. The offering, underwritten by Goldman Sachs & Co. LLC, generated gross proceeds of $344 million.

It's important to note that Kodiak Gas Services did not sell any shares in this offering and will not receive any proceeds from the sale, as all shares were sold by the EQT-affiliated selling stockholder.

Kodiak Gas Services (NYSE: KGS) has announced the pricing of an underwritten secondary offering of 10,000,000 shares of common stock by Selling Stockholder Frontier TopCo Partnership, an affiliate of EQT Infrastructure III and IV funds. The shares are priced at $34.40 per share.

The offering is expected to close on September 9, 2025. Goldman Sachs & Co. LLC is serving as the underwriter. Importantly, Kodiak will not sell any shares or receive any proceeds from this offering, as it represents a sale by existing shareholders.

Kodiak Gas Services (NYSE: KGS) announced a secondary public offering of 10 million shares of common stock by its major shareholder, Frontier TopCo Partnership, L.P., an affiliate of EQT Infrastructure III and IV funds. The offering will be underwritten by Goldman Sachs & Co. LLC as the sole underwriter.

Notably, Kodiak will not sell any shares or receive any proceeds from this offering, as all shares are being sold by the existing stockholder. The offering will be conducted through a prospectus supplement and base prospectus filed under an automatic shelf registration statement that became effective on July 10, 2024.

Kodiak Gas Services (NYSE: KGS) has announced the pricing of a significant $1.2 billion senior unsecured notes offering. The offering consists of two tranches: $600 million of 6.500% notes due 2033 and $600 million of 6.750% notes due 2035.

The notes will be issued at par and guaranteed on a senior unsecured basis by the Company and its subsidiaries. The proceeds will be used to repay a portion of the outstanding debt under their ABL Facility. Additionally, KGS plans to amend the ABL Facility to reduce total commitments to $2.0 billion and extend its maturity date.

Kodiak Gas Services (NYSE: KGS) has announced a significant $1 billion private notes offering through its subsidiary. The offering consists of $500 million in senior unsecured notes due 2033 and another $500 million due 2035.

The company plans to use the proceeds to repay part of its existing revolving asset-based loan credit facility. Additionally, KGS intends to amend its ABL Facility to reduce total commitments to $2.0 billion and extend the maturity date. The notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.