Natural Gas Srv Stock Price, News & Analysis

Natural Gas Services Group (NGS) reported its 2020 financial results showing a 13.2% drop in total revenue to $68.1 million. Despite a challenging market, the company experienced a cash balance increase of 150% to $28.9 million, driven by strong operating cash flow of $32.6 million. Rental revenue rose 7.3% to $60.8 million, but sales revenue plummeted 71% to $5.7 million. Net income for 2020 was $1.8 million per share, an improvement from a $13.9 million loss in 2019. The company also posted an adjusted EBITDA of $22.7 million, down 5.5% from 2019.

Natural Gas Services Group, Inc. (NYSE:NGS) will release its fourth quarter and full year 2020 earnings on March 30, 2021, before market opens. The earnings distribution will be available via Nasdaq OMX and on the company's website. A conference call is scheduled for 10:00 a.m. Central on the same day, led by CEO Stephen Taylor, to discuss financial results. A replay of the call will be accessible on their website shortly after the event. NGS specializes in gas compression equipment, focusing on non-conventional gas and oil sectors.

Natural Gas Services Group, Inc. (NGS) reported Q3 2020 results with total revenue of $15.8 million, down from $20.9 million in Q3 2019, primarily due to a drop in compressor sales. Despite a net loss of $562,000 ($0.04 per diluted share), cash flow from operations increased by 31% to $27.9 million year-over-year. Cash balance surged 78% to $27.6 million due to strong cash flow and reduced CAPEX. Although rental revenue rose 3% to $14.9 million, total gross margins fell to $1.7 million from $3.8 million in the prior year, emphasizing challenges in sales but solid rental performance.

Natural Gas Services Group, Inc. (NYSE:NGS) announced it will file its Form 10-Q after market close on November 16, 2020, with an earnings call scheduled for November 17, 2020, at 10:00 am CST. The company filed Form 12b-25 to extend the filing deadline for its Quarterly Report due to challenges related to the COVID-19 pandemic. Staff exposure and positive cases led to office closures and staffing constraints, delaying financial data collection necessary for the report.

Natural Gas Services Group, Inc. (NGS) reported its financial results for Q2 2020, showing a net income of $165,000 ($0.01 per diluted share). Adjusted EBITDA increased 13% from Q1 2020 to $6.5 million, while rental revenue rose 11.5% year-over-year to $15.1 million. However, total revenue decreased to $17.4 million, down from $19.9 million last year, primarily due to a significant drop in sales revenue. The company maintains a strong liquidity position with $15.5 million in cash and low debt. Management forecasts capital expenditures between $8-$10 million for H2 2020.

Natural Gas Services Group (NGS) filed Form 12b-25 to extend the due date for its Quarterly Report on Form 10-Q for the period ending June 30, 2020. Citing challenges due to COVID-19, the company was unable to finalize financial results timely, with its headquarters closed since June 29, 2020, following positive virus tests among staff. NGS plans to file the report soon and will hold an earnings call on August 18, 2020. The ongoing pandemic has impacted the company’s operations, necessitating these extensions.

Natural Gas Services Group, Inc. (NYSE: NGS) announced the retirement of Charles G. Curtis from its Board of Directors effective June 10, 2020. Curtis, who served as Lead Director, played a vital role in the Company's growth and stability. The Company appointed Leslie Shockley Beyer to the Board, bringing extensive experience in oilfield services and public affairs. CEO Stephen C. Taylor noted Beyer’s expertise will enhance strategic decision-making as NGS seeks future success.