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Natural Gas Services Group (NGS) investor relations material
Natural Gas Services Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Achieved record Q3 2025 results with rental revenue up 11.1% year-over-year to $41.5 million, driven by large horsepower deployments, high utilization, and technology-enabled uptime.
Net income for Q3 2025 was $5.8 million ($0.46 per diluted share), up from $5.0 million in Q3 2024, with nine-month net income at $15.8 million.
Adjusted EBITDA reached $20.8 million, up 14.6% year-over-year and 6% sequentially.
Devon Energy now represents over 10% of year-to-date revenue, reflecting deepening customer relationships.
Increased quarterly dividend by 10% to $0.11 per share, reflecting confidence in cash generation and capital allocation.
Financial highlights
Total Q3 2025 revenue was $43.4 million, up 6.7% year-over-year; rental revenue comprised 95.6% of total revenue.
Rental adjusted gross margin was $25.8 million (59.5%), up from $22.9 million year-over-year.
Operating income for Q3 2025 was $10.8 million, up from $9.5 million in Q3 2024.
Cash flow from operations was $16.8 million; investing activities used $41.9 million in Q3 2025.
EPS for Q3 2025 was $0.46 basic and diluted, up from $0.40 in Q3 2024.
Outlook and guidance
Raised full-year 2025 Adjusted EBITDA guidance to $78M–$81M, a 2% increase at midpoint.
2025 growth CapEx expected at $95M–$110M; maintenance CapEx at $11M–$14M.
Plans to deploy approximately 90,000 horsepower in large horsepower and electric motor drive compression into early 2026.
Liquidity supported by $163 million available under the credit facility and positive operating cash flow.
Target return on invested capital remains at least 20%.
What is the contract status of 2026's 90k HP?
How is customer concentration risk mitigated?
How will 2026 growth capex be funded?
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Next Natural Gas Services Group earnings date
Q4 202520 Mar, 2026
Next Natural Gas Services Group earnings date
Q4 202520 Mar, 2026
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Frequently asked questions
Natural Gas Services Group Inc. is a provider of equipment and services to the natural gas and oil industries, specializing in compression systems used in the production and transportation of natural gas. The company manufactures and leases a range of natural gas compression units, including small to medium horsepower compressors, designed for wellhead compression, gas gathering, and other applications. Natural Gas Services Group is headquartered in Midland, Texas, and its shares are listed on the NYSE.
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