secwatch.observer — SEC 8-K summary
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Issuer:     Archrock, Inc. (AROC)
CIK:        0001389050
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001389050-23-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389050/000138905023000019/0001389050-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389050/000138905023000019/aroc-20230502x8k.htm
  HTML page:      https://secwatch.observer/filing/0001389050-23-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer