Archrock Q1 revenue $229.8M, net income $16.5M; record 94% utilization

Archrock, Inc.

2023-Q1 EPS reported $0.10 revenue$229,834,000

Revenue $229.8M (+17% YoY), net income $16.5M (vs $1.7M), Adjusted EBITDA $97.2M (vs $81.4M).
Record utilization of 94% at period end, operating horsepower 3.5M (up from 84% and 3.3M YoY).
Declared $0.15/sh dividend (2.0x coverage) and announced $50M share repurchase authorization.
Trending toward high end of 2023 Adjusted EBITDA guidance of $400-430M; leverage 4.1x.
Contract ops revenue $187.7M (+15% YoY); aftermarket services revenue $42.1M (+25% YoY).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Archrock, Inc. reported the first quarter of 2023 results: revenue $229.8 million, net income $16.5 million.

Period: the first quarter of 2023
Revenue: $229.8 million
Net income: $16.5 million
Result: reported results

Exact text from the filing

Revenue for the first quarter of 2023 was $229.8 million compared to $197.2 million in the first quarter of 2022. ● Net income for the first quarter of 2023 was $16.5 million compared to $1.7 million in the first quarter of 2022.

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Archrock, Inc. filing history →

Source: SEC EDGAR

accession 0001389050-23-000019

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