Archrock Q2 net income $34.4M, revenue $270.5M; reaffirms FY EBITDA guidance $510-540M

Archrock, Inc.

2024-Q2 EPS reported $0.48 revenue$539,014,000

Q2 revenue $270.5M (+9% YoY), net income $34.4M (up from $24.7M), Adjusted EBITDA $129.7M.
Contract ops revenue $225.5M (+12% YoY), margin 65% vs 62%. Aftermarket ops revenue $45.1M, margin 22% vs 24%.
Quarterly dividend raised 6% to $0.165/share; coverage 2.6x. Share repurchase extended, $50M authorized.
Announced acquisition of TOPS (highly utilized, accretive, expected H2 2024 close). No deal value disclosed.
Reaffirmed 2024 Adj. EBITDA guidance $510-540M, capex $290-300M (excl TOPS). Updated net income guidance $139-167M.

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