Natural Gas Srv Stock Price, News & Analysis

Natural Gas Services Group (NGS) announced the schedule for its second quarter 2022 earnings release. The financial results for the three months ended June 30, 2022, will be published after market close on August 15, 2022. An earnings conference call is set for August 16, 2022, at 8:30 AM EDT, accessible via webcast or telephone. NGS specializes in gas compression technology, serving the energy sector with manufacturing and maintenance services in key U.S. energy-producing regions.

Natural Gas Services Group (NGS) announced a significant initiative to convert up to 100 compressor packages from gas engines to electric motors within the next three to six months. This move supports NGS's commitment to environmental stewardship and meets increasing client demand for electric options. The electrification process will reduce greenhouse emissions and lower operating costs by over 25%. The estimated cost for conversion is $45,000 - $60,000 per compressor, funded through cash on hand. An update on this program will be provided during the Q2 earnings call in mid-August.

Natural Gas Services Group, Inc. (NYSE: NGS) has announced the retirement of Stephen C. Taylor as President and CEO after over 17 years of service. He will continue as Chairman of the Board until June 2023. John W. Chisholm, the lead independent director, has been appointed as interim President and CEO. Taylor's leadership is credited with transforming NGS into a leader in gas compression services while maintaining a strong financial position. The transition will commence with today's earnings call, ensuring continuity in operations and customer relations.

Natural Gas Services Group (NGS) reported a net income of $0.3 million for Q1 2022, a significant improvement compared to a loss of $5.6 million in the previous quarter. Revenues rose to $20.3 million, marking a 12.8% sequential increase, driven by a 4% uptick in rental revenue, totaling $17.1 million. Adjusted EBITDA soared 191% sequentially to $6.8 million. The company increased capital expenditure projections to $30-$35 million for 2022, highlighting a robust rental fleet demand despite ongoing inflationary pressures. Cash equivalents stood at $16.4 million with no debt.

Natural Gas Services Group (NYSE:NGS) will release its first quarter 2022 earnings on May 16 after market close. The earnings call is scheduled for May 17 at 10:00 a.m. Central (11:00 a.m. Eastern). Interested parties can listen live by dialing 877-358-7306. A replay will be available on their website. NGS specializes in gas compression equipment for the natural gas industry, focusing on non-conventional gas and oil sectors.

Natural Gas Services Group (NGS) reported financial results for the year ending December 31, 2021, showing a net loss of $9.2 million or $(0.70) per share, a significant decline from a net income of $1.8 million in 2020. Total revenue increased by 6.4% to $72.4 million, largely due to a 4.6% rise in rental revenue. However, cash flow from operations fell to $28.5 million, while cash reserves dropped to $22.9 million. Operating losses surged to $12.4 million, influenced by rising costs associated with new unit deployments and maintenance. Despite challenges, rental fleet utilization improved to 71.2%.

Natural Gas Services Group, Inc. (NYSE:NGS) plans to release its fourth-quarter and full-year 2021 earnings on March 16, 2022, after market close. The earnings will be available on their website and through Intrado Digital Media. A conference call will be held on March 17, 2022, at 10:00 a.m. Central, for detailed discussions on the financial results led by CEO Stephen Taylor. The replay will be accessible on NGS's website shortly after the call.

Natural Gas Services Group (NGS) reported a net loss of $1.3 million for Q3 2021, showing an improvement from the previous quarter but a decline from Q3 2020. Rental revenue increased to $16.2 million, a 4% rise from Q2 2021 and 9% from Q3 2020. Adjusted EBITDA was $5.4 million, a 19% increase sequentially but a 13% drop year-over-year. Share repurchases totaled 432,731 shares in 2021. Despite growth in compression rental revenue, operating losses increased due to rising costs in maintenance and new unit setups, impacting overall profitability.

Natural Gas Services Group, Inc. (NYSE:NGS) announced their third quarter earnings release set for November 11, 2021, before market opens. The earnings will be accessible via NGS website and through Intrado Digital Media.

A conference call is scheduled for 10:00 a.m. Central on the same day, led by Stephen Taylor, the Chairman and CEO, to discuss the financial results. Participants are encouraged to join 5 minutes early. A replay will be available shortly after the call on NGS's website.