Welcome to our dedicated page for Natural Gas Srv news (Ticker: NGS), a resource for investors and traders seeking the latest updates and insights on Natural Gas Srv stock.
Natural Gas Srv (NGS) delivers essential compression technology solutions for the energy sector through equipment manufacturing, rental services, and maintenance support. This news hub provides investors and industry professionals with comprehensive updates on NGS's operational developments and financial milestones.
Access authoritative coverage of earnings announcements, technology innovations, and strategic partnerships. Our curated collection includes press releases about compressor system deployments, service expansions, and leadership updates directly from NGS corporate communications.
Key focus areas include equipment rental program updates, aftermarket service initiatives, and market position developments in natural gas compression. Bookmark this page for real-time insights into how NGS maintains operational excellence across North American energy operations.
On May 15, 2024, Natural Gas Services Group (NYSE: NGS) reported its financial results for Q1 2024. The key highlights include:
Rental revenue increased by 48% YoY to $33.7 million, and net income surged to $5.1 million ($0.41 per share) from $0.4 million ($0.03 per share) in Q1 2023. Adjusted EBITDA more than doubled to $16.9 million from $7.8 million in the prior-year period.
Total revenue for Q1 2024 rose by 38.6% YoY to $36.9 million. The company also noted an increase in gross margin to $14.2 million and operating income to $9.3 million. Cash and cash equivalents were $5.2 million with a working capital of $54.4 million.
Debt stands at $172 million with a leverage ratio of 2.57. The company reaffirmed its full-year 2024 outlook for adjusted EBITDA between $61 million and $67 million.
Natural Gas Services Group, Inc. (NYSE:NGS) will host a conference call to review Q1 2024 financial results on May 16, 2024. The Company provides natural gas compression equipment, technology, and services to the energy industry. Financial and operating results for Q1 2024 will be released on May 15, 2024. NGS manufactures, rents, sells, and maintains natural gas compressors for oil and natural gas production and plant facilities.
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