USA Compression Companions LP reported a web revenue of $25.4 million within the fourth quarter of 2024, doubling the online revenue reported within the corresponding quarter a yr prior. The corporate famous that its revenues hit a file excessive within the fourth quarter of 2024, reaching $245.9 million, which compares to $225 million reported in Q3, 2023.
“Our fourth-quarter monetary outcomes included one other consecutive quarter of record-setting revenues and Adjusted EBITDA, in addition to record-setting Distributable Money Movement and Distributable Money Movement Protection. These monetary outcomes had been pushed by improved operational efficiencies as we once more achieved file common income per-horsepower of $20.85 and file revenue-generating horsepower of three.56 million, which continues to mirror the tight contract compression service area”, Clint Inexperienced, USA Compression’s President and Chief Govt Officer, stated.
USA Compression’s adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) for the fourth quarter of 2024 reached $155.5 million, versus $138.6 million within the fourth quarter of 2023.
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“We consider the macro backdrop continues to be favorable within the near- and medium-term. We anticipate the value of oil to stay constructive and proceed to drive development in related fuel volumes, notably within the Permian”, Inexperienced stated. “We consider our property in Texas, Oklahoma, and Louisiana will profit from anticipated development in pure fuel volumes essential to assist elevated LNG and pipeline exports alongside the Gulf Coast, in addition to the electrification of all the pieces, pushed by AI and information middle demand”, he added.
In accordance with Inexperienced, USA Compression anticipates an enlargement capital vary of $120 million to $140 million with a refocus on contracted new horsepower unit additions that will probably be largely back-end loaded for the yr. “Moreover, we anticipate the Vitality Switch shared providers mannequin to start taking impact on the outset of 2025 and anticipate a discount in back-office prices in addition to improve administration of the enterprise from an operations perspective all through 2025 and 2026”, concluded Inexperienced.
To contact the writer, electronic mail andreson.n.paul@gmail.com
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