Welcome to our dedicated page for Kodiak Gas Services news (Ticker: KGS), a resource for investors and traders seeking the latest updates and insights on Kodiak Gas Services stock.
Kodiak Gas Services, Inc. (NYSE: KGS) is a contract compression services provider headquartered in The Woodlands, Texas, operating within the crude petroleum and natural gas extraction industry. This news page aggregates company announcements, market communications and regulatory-related updates that reflect Kodiak’s role in the U.S. energy infrastructure.
Readers can find coverage of earnings releases and quarterly operating updates, where Kodiak reports segment performance for its Contract Services and Other Services businesses, non-GAAP financial measures such as adjusted EBITDA and discretionary cash flow, and detailed compression fleet statistics including horsepower, utilization and unit counts. These disclosures highlight how the company’s compression assets support natural gas and oil production and transportation.
The news stream also includes capital markets and financing developments, such as private offerings of senior unsecured notes issued by Kodiak Gas Services, LLC under its indenture, and underwritten public offerings of Kodiak common stock by a selling stockholder affiliated with EQT Infrastructure funds. Related items describe share repurchases by Kodiak under its repurchase program and the terms of its senior notes and guarantees.
Additional articles cover corporate actions and governance events, including dividend declarations on Kodiak’s common stock and related distributions by its subsidiary, as well as announcements about its listing status on the New York Stock Exchange and NYSE Texas. Together, these updates provide a view into how Kodiak manages its capital structure, supports shareholder returns and communicates operational progress.
Investors, analysts and industry observers can use this page to follow Kodiak’s ongoing disclosures around financial performance, fleet deployment, debt financing and equity transactions, all of which relate to its position as a U.S. contract compression services provider in the natural gas and oil value chain.
Kodiak Gas Services (NYSE: KGS) announced the pricing of an upsized public offering of 5,708,885 shares at $34.50 per share by EQT Infrastructure funds. The underwriters have a 30-day option for additional 856,332 shares. Concurrent with the offering's closing, Kodiak plans to repurchase $15 million worth of shares (434,783 shares) from the selling stockholder at the public offering price. This repurchase is part of the company's $50 million share repurchase program, leaving $35 million remaining after completion. The offering is expected to close on November 18, 2024.
Kodiak Gas Services (NYSE: KGS) announced a public offering of 4,853,556 shares of common stock by an affiliate of EQT Infrastructure III and IV funds. The selling stockholder may grant underwriters a 30-day option for additional 728,034 shares. Kodiak will not receive any proceeds from the offering. The company plans to privately purchase $15 million of common stock from the selling stockholder at the public offering price. The total offering will be 6,000,000 shares less the shares repurchased by the company. This repurchase is part of Kodiak's existing $50 million share repurchase program, leaving $35 million remaining after completion.
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.
FAQ
What is the current stock price of Kodiak Gas Services (KGS)?
What is the market cap of Kodiak Gas Services (KGS)?
