secwatch.observer — SEC 8-K summary
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Issuer:     Archrock, Inc. (AROC)
CIK:        0001389050
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001389050-24-000022
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Archrock Q1 2024 revenue $268.5M, net income $40.5M; raises FY2024 Adj. EBITDA guidance to $510-540M
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- Q1 revenue $268.5M (+17% YoY), net income $40.5M (+146% YoY); Adjusted EBITDA $131.0M vs $97.2M YoY.
- FY2024 Adjusted EBITDA guidance raised to $510-540M from $500-530M; net income guidance $144-174M.
- Contract ops revenue $223.1M (+19% YoY), gross margin 65% (vs 58% YoY); utilization 95%.
- Quarterly dividend raised 10% to $0.165/share, coverage 3.2x; leverage ratio improved to 3.2x from 4.1x.
- Share repurchase program extended with $50M capacity; 82,972 shares repurchased in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389050/000138905024000022/0001389050-24-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389050/000138905024000022/aroc-20240430x8k.htm
  HTML page:      https://secwatch.observer/filing/0001389050-24-000022

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