Loading...
•
Jun 30, 2022
Archrock Q2 2022 Earnings Report
Revenue and net income increased compared to the same quarter last year.
Key Takeaways
Archrock reported a strong second quarter with revenue of $215.8 million and net income of $16.7 million. The company saw increased demand for its large midstream compression services and aftermarket services.
Revenue increased to $215.8 million compared to $195.6 million in Q2 2021.
Net income increased to $16.7 million compared to $8.8 million in Q2 2021.
Adjusted EBITDA increased to $99.5 million compared to $87.0 million in Q2 2021.
Horsepower utilization improved meaningfully to 87% at the end of June.
Archrock
Archrock
Archrock Revenue by Segment
Revenue by Segment
Contract Operations Revenue
CapyFin.comAftermarket Services Revenue
CapyFin.com Forward Guidance
Archrock provided updated 2022 annual guidance.
Positive Outlook
- Capacity across the industry will remain limited in light of continued capital discipline and extending lead-times for new large horsepower units.
- Increase spot prices to record levels.
- Reclaim the increasing costs as we raise pricing on our installed base of operating horsepower.
- Significant and sustained demand for abundant, affordable and cleaner U.S. natural gas.
- Leveraging our best-in-class customer service and operational execution.
Challenges Ahead
- Near-term challenges and uncertainties that have emerged for the global economy.
- Intense cost inflation.
- The increasing costs we are currently experiencing.
- Impact of recent and unfortunate geopolitical conflicts will be lasting.
- Industry-wide labor scarcity is driving encouraging outsourcing trends for this work.
Revenue & Expenses
Visualization of income flow from segment revenue to net income