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Natural Gas Services Group (NGS) investor relations material
Natural Gas Services Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
First full quarter of Flatrock contribution; Q3 rental revenue and Adjusted EBITDA reached records, while organic fleet additions exceeded 20,000 horsepower.
Rented horsepower reached 683,952 with 87.8% utilization; organic additions totaled ~43,000 horsepower through Q3.
Flatrock expanded customer relationships, basin density and electric-compression capabilities; fleet-management practices are being applied across the combined fleet.
Financial highlights
Q3 revenue was $61.256M versus $43.401M a year earlier; rental revenue was $58.9M versus $41.5M.
Adjusted EBITDA was $29.622M versus $20.838M, up 42.2% YoY and 18.2% QoQ; operating cash flow was $16.7M.
Net income was $5.610M, or $0.43 per diluted share, versus $5.784M, or $0.46; Adjusted Net Income was $6.208M, or $0.48 per diluted share.
Nine-month revenue was $161.1M versus $126.2M; Adjusted EBITDA was $78.9M versus $59.8M and Adjusted Net Income was $19.0M versus $15.9M.
Adjusted gross margin was $36.852M versus $25.828M; operating income was $13.746M versus $10.755M.
Outlook and guidance
FY2026 Adjusted EBITDA guidance increased to $105M–$108M from $103M–$108M; growth capex guidance is $60M–$75M and maintenance capex is $15M–$19M.
~43,000 organic horsepower additions through Q3 keep the 55,000-horsepower FY target on track; horsepower expectations were unchanged.
Strong demand and equipment commitments support confidence in a fifth consecutive year of market-share gains in 2027; no formal 2027 guidance was provided.
Q4 is expected to include the final period of meaningful integration costs; inflationary pressures are balanced against strong performance, high utilization and fleet growth.
- Strong EBITDA growth, low leverage, and expanding rental fleet drive industry outperformance.NGS
Investor presentation - Record Q2 2026 rental revenue and EBITDA growth, with raised guidance and high utilization.NGS
Q2 2026 - $120M acquisition expands scale, diversifies customers, and accelerates growth in key basins.NGS
M&A announcement - Record Q1 rental revenue, EBITDA, and dividend hike drive higher 2026 outlook.NGS
Q1 2026 - Shareholders to vote on director elections, executive pay, auditor, and Texas redomestication.NGS
Proxy filing - Key votes include director elections, auditor ratification, and redomestication to Texas.NGS
Proxy filing - Record rental revenue, EBITDA, and utilization in 2025; 2026 guidance signals further growth.NGS
Q4 2025 - Q2 revenue and net income surged, driving higher guidance and investment in rental fleet.NGS
Q2 2024 - Record revenue, EBITDA, and net income growth driven by large horsepower fleet and capital efficiency.NGS
Q4 2024
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