NGS Q3 rental revenue up 49% YoY to $27.7M; net income $2.2M vs loss of $80K

NATURAL GAS SERVICES GROUP INC

2023-Q3 EPS reported $0.25 revenue$84,946,000

Rental revenue $27.7M, increase of 49% vs Q3 2022 and 15% vs Q2 2023.
Net income of $2.2M ($0.18 per basic share) vs net loss of $80K in Q3 2022 and net income of $504K in Q2 2023.
Adjusted EBITDA of $11.8M vs $7.7M in Q3 2022 and $9.9M in Q2 2023.
Sequential improvement in net income and Adjusted EBITDA reflects strong demand for compression equipment.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NATURAL GAS SERVICES GROUP INC reported third quarter ended September 30, 2023 results: revenue $27.7 million, net income $2.2 million, EPS $0.18 per basic share.

Period: third quarter ended September 30, 2023
Revenue: $27.7 million
Net income: $2.2 million
EPS: $0.18 per basic share
Result: reported results

Exact text from the filing

Natural Gas Services Group, Inc. Reports Third Quarter 2023 Financial and Operating Results Third Quarter 2023 Highlights • Rental revenue of $27.7 million, an increase of 49% when compared to the third quarter of 2022 and 15% when compared to the second quarter of 2023. • Net income of $2.2 million, or $0.18 per basic share, as compared to a net loss of $80,000 in the third quarter of 2022 and net income of $504,000 in the second quarter of 2023.

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Source: SEC EDGAR

accession 0001084991-23-000118

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