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Sep 30, 2024
Archrock Q3 2024 Earnings Report
Archrock's third quarter performance was driven by strong financial results and strategic achievements, including record-setting adjusted gross margins and the acquisition of TOPS.
Key Takeaways
Archrock reported strong third-quarter results, with revenue increasing to $292.2 million and net income reaching $37.5 million. The company's performance was boosted by the acquisition of TOPS, which contributed to its financial and operational strength. Archrock also raised its full-year 2024 adjusted EBITDA guidance, reflecting confidence in its future performance.
Revenue increased to $292.2 million compared to $253.4 million in Q3 2023.
Net income increased to $37.5 million, with EPS at $0.22.
Adjusted EBITDA rose to $150.9 million, compared to $120.2 million in Q3 2023.
Acquisition of Total Operations and Production Services, LLC (TOPS) was completed.
Revenue by Segment
Forward Guidance
Archrock raised its full-year 2024 adjusted EBITDA guidance to a range of $575 million to $585 million.
Positive Outlook
- Sustained strength in compression booking demand.
- Customers planning for continuing production growth
- Increased LNG export capacity
- Electric generation demand from AI and data centers
- Enhanced position in the Permian Basin.
Challenges Ahead
- Inability to achieve the expected benefits of the TOPS acquisition and difficulties in integrating TOPS.
- Risks related to acquisitions, including the TOPS acquisition, which can reduce our ability to make distributions to our common stockholders.
- Risks related to pandemics and other public health crises.
- An increase in inflation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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