Kodiak Gas Services Inc - KGS STOCK NEWS

Kodiak Gas Services (NYSE: KGS) has announced a $50 million share repurchase program approved by its Board of Directors. The program will run through December 31, 2025, allowing the company to repurchase shares through open market transactions or privately negotiated deals. The repurchases will comply with Rule 10b-18 requirements, and the company may implement Rule 10b5-1 plans. While not obligated to purchase any specific amount, Kodiak maintains flexibility to suspend or terminate the program based on factors including price, market conditions, and alternative investment opportunities.

Kodiak Gas Services (NYSE: KGS) reported record Q3 2024 financial results, with Contract Services revenue of $284.3 million and record quarterly Adjusted EBITDA of $168.4 million. Despite posting a net loss of $6.2 million due to asset impairments and hedging losses, the company achieved record quarterly Free Cash Flow of $52.5 million. Fleet utilization improved to 96.4%. The company raised its full-year 2024 Adjusted EBITDA guidance to $600-610 million and provided a 2025 outlook of $675-725 million. During the quarter, Kodiak deployed 50,000 horsepower of new compression units while divesting 95,000 horsepower of small units.

Kodiak Gas Services (NYSE: KGS) has announced a quarterly cash dividend of $0.41 per share for Q3 2024, payable on November 8, 2024, to stockholders of record as of November 1, 2024. Concurrently, Kodiak Gas Services, , a subsidiary, declared a distribution of $0.41 per unit for Q3 2024 with the same record and payment dates.

The company will release its Q3 2024 financial results on November 6, 2024 after market close. A conference call is scheduled for November 7, 2024, at 11:00 a.m. Eastern Time to discuss the results. Investors can join via phone or webcast, with replay options available until November 21, 2024.

Kodiak Gas Services (NYSE: KGS) announced the pricing of a public offering of 6,086,957 shares of its common stock by an affiliate of EQT Infrastructure III and IV funds at $25.00 per share. The underwriters have a 30-day option to purchase up to 913,043 additional shares. Kodiak will not receive any proceeds from the sale. The offering is expected to close on September 11, 2024. Concurrent with the closing, Kodiak plans to repurchase $25 million of common stock from the selling stockholder at the public offering price. Barclays, Goldman Sachs & Co. , and J.P. Morgan are acting as joint book-running managers for the offering.

Kodiak Gas Services (NYSE: KGS) has announced a public offering of 6,140,182 shares of its common stock by an affiliate of EQT Infrastructure III and IV funds. The underwriters have a 30-day option to purchase an additional 921,027 shares. Kodiak will not sell any shares or receive proceeds from this offering. The company plans to repurchase $25 million worth of shares from the selling stockholder in a private transaction at the public offering price. The total offering will be 8,000,000 shares minus the number of shares Kodiak repurchases. Barclays, Goldman Sachs & Co. , and J.P. Morgan are joint book-running managers for the offering, which is subject to market conditions.

Kodiak Gas Services (NYSE: KGS) has announced that the 2023 Schedule K-3 investor tax packages for former CSI Compressco LP unitholders are now available online. These packages contain information on items of international tax relevance and can be accessed through the K-1 Tax Package Support website. Kodiak, which acquired CSI Compressco on April 1, 2024, notes that a number of former unitholders may require the detailed information on Schedule K-3 for specific reporting requirements. For assistance, unitholders can call the K-1 Tax Package Support line. Kodiak, headquartered in The Woodlands, Texas, is the largest contract compression services provider in the United States, playing a important role in natural gas and oil production and transportation infrastructure.

Kodiak Gas Services (NYSE: KGS) reported record second quarter 2024 financial results and increased full-year Adjusted EBITDA guidance. Key highlights include:

- Total revenues of $309.7 million, up from $203.3 million in Q2 2023
- Record quarterly Adjusted EBITDA of $154.3 million, compared to $107.9 million in Q2 2023
- Net income of $6.7 million, down from $17.5 million in Q2 2023
- Increased expected transaction run-rate cost synergies to over $30 million
- Deployed 41,500 horsepower of new large compression units
- ~98% horsepower utilization on units >1,000 horsepower
- Raised full-year 2024 Adjusted EBITDA guidance to $590-$610 million
- Declared a cash dividend of $0.41 per share, an 8% increase over Q1 2024

Kodiak Gas Services (NYSE: KGS), a leading provider of critical energy infrastructure and contract compression services, has announced an 8% increase in its quarterly cash dividend to $0.41 per share of common stock for Q2 2024. The dividend will be paid on August 16, 2024 to stockholders of record as of August 12, 2024. CEO Mickey McKee emphasized that returning capital to stockholders is a key element of their strategy, reflecting enhanced cash flow from their large contract compression fleet and confidence in the market outlook. Additionally, Kodiak Gas Services, , a subsidiary, declared a distribution of $0.41 per unit for Q2 2024, payable on the same date to unitholders of record.

Kodiak Gas Services (NYSE: KGS), a leading provider of critical energy infrastructure and contract compression services, has announced its schedule for the release of second quarter 2024 financial results. The company will release its earnings report on Monday, August 12, 2024 after market close. A conference call to discuss the results is scheduled for Tuesday, August 13, 2024, at 11:00 a.m. Eastern Time (10:00 a.m. Central Time).

Investors can participate in the call by dialing 877-407-4012 or accessing the webcast at https://ir.kodiakgas.com/news-events/ir-calendar. A replay of the call will be available until August 27, 2024, by dialing 877-660-6853 with access code 13747895. The webcast replay will be accessible on the company's website for 90 days.