Archrock Q2 revenue $247.5M (+15% YoY); raises 2023 EBITDA guidance to $430-450M; dividend up 3.3%

Archrock, Inc.

2024-Q2 EPS reported $0.26 revenue$477,377,000

Q2 revenue $247.5M (15% YoY growth), net income $24.7M (up 48% YoY), adjusted EBITDA $112.8M.
Record fleet utilization of 95% at period end (vs 87% YoY); operating horsepower 3.6M.
Raised 2023 adjusted EBITDA guidance to $430-450M from $400-430M; expects 2024 growth and dividend increase.
Declared quarterly dividend of $0.155/share (up 3.3% QoQ), paid Aug 15; coverage 2.1x.
Repurchased 222,250 shares at average $9.33 for $2.1M; $48M remaining under buyback.

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 0.98

Archrock, Inc. reported second quarter of 2023 results: revenue $247.5 million, net income $24.7 million. Guidance raised.

Period: second quarter of 2023
Revenue: $247.5 million
Net income: $24.7 million
Guidance: raised
Result: reported results

Exact text from the filing

- Archrock, Inc. (NYSE: AROC) (“Archrock”) today reported results for the second quarter of 2023. Second Quarter 2023 Highlights ● Revenue for the second quarter of 2023 was $247.5 million compared to $215.8 million in the second quarter of 2022. ● Net income for the second quarter of 2023 was $24.7 million compared to $16.7 million in the second quarter of 2022. ●

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Source: SEC EDGAR

accession 0001389050-23-000034

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