Archrock Q3 2022 Earnings Report
Key Takeaways
Archrock reported strong Q3 2022 results with revenue of $213.7 million, a net income of $15.4 million, and record period-end utilization of 89%. The company is optimistic about future growth, driven by resilient demand for natural gas and successful field tests of a proprietary methane capture technology.
Revenue increased to $213.7 million compared to $195.2 million in Q3 2021.
Net income rose to $15.4 million compared to $9.3 million in Q3 2021.
Record period-end utilization of 89% was achieved, compared to 82% in Q3 2021.
The company completed a successful field test for a proprietary methane capture technology.
Archrock
Archrock
Archrock Revenue by Segment
Forward Guidance
Archrock expects to exceed its previously issued 2022 Adjusted EBITDA guidance due to solid underlying business performance and the benefit of net gains related to the sale of compression and other assets realized during the third quarter of 2022.
Positive Outlook
- Resilient demand for abundant, affordable and cleaner natural gas
- Sequential operating horsepower growth
- Improved horsepower utilization
- Robust backlog levels
- Repricing installed base of horsepower
Revenue & Expenses
Visualization of income flow from segment revenue to net income