HOUSTON, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) today announced that it had received tenders for an aggregate principal amount of approximately $312.3 million of its outstanding 6.875% Senior Unsecured Notes due 2027 (the “Notes”) in its previously announced cash tender offer (the “offer”) to purchase up to $200 million aggregate principal amount (the “Tender Cap”) of the $500 million aggregate principal amount outstanding of the Notes, as of 5:00 p.m., New York City time ...

HOUSTON, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) today announced the pricing of an upsized private offering by Archrock Partners, L.P. (“Archrock Partners”), a wholly-owned subsidiary of Archrock, of $700 million aggregate principal amount of 6.625% senior notes due 2032 (the “Notes”). The Notes were priced at par. The offering is expected to close on August 26, 2024, subject to the satisfaction of customary closing conditions. Archrock Partners Finance Corp. (“Finance Cor ...

HOUSTON, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) announced today that its subsidiaries, Archrock Partners, L.P. and Archrock Partners Finance Corp. (together, the “Offerors”), have commenced an offer to purchase for cash up to $200,000,000 of the outstanding aggregate principal amount of the Offerors’ 6.875% Senior Unsecured Notes due 2027 (the “Notes”), upon terms and subject to the conditions set forth in the Offer to Purchase, dated August 12, 2024 (as may be amended or ...

HOUSTON, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) today announced that Archrock Partners, L.P. (“Archrock Partners”), a wholly-owned subsidiary of Archrock, intends, subject to market and other conditions, to offer and sell to eligible purchasers $500 million aggregate principal amount of senior notes due 2032 (the “Notes”). Archrock Partners Finance Corp., a wholly-owned subsidiary of Archrock Partners (together with Archrock Partners, the “Issuers”), will serve as co-issu ...

Archrock Inc. (AROC) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this natural gas compression services business have returned -6% over the past month versus the Zacks S&P 500 composite's -5.9% change. The Zacks Oil and Gas - Field Services industry, to which Archrock Inc. belongs, has lost 4.5% over this period. Now the key question is: Where could the stock be hea ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-33666 Archrock, Inc. (Exact name of registrant as specified in its charter) Delaware 74-3204509 (State or other ju ...

Financial Data and Key Metrics Changes - Archrock reported a net income of $34 million for Q2 2024, an increase from $25 million in Q2 2023 [7] - Adjusted EBITDA for the quarter was $130 million, reflecting a 15% increase year-over-year, driven by higher pricing and effective cost management [7] - The leverage ratio stood at 3.2x, maintaining a strong financial position [7] - Quarterly dividend per share increased by 6% compared to the previous year, with a robust dividend coverage of 2.6x [7][17] Business Line Data and Key Metrics Changes - The Aftermarket Service segment generated revenues of $45 million, with an adjusted gross margin of 22%, exceeding full-year guidance expectations [11] - The contract operations segment maintained a utilization rate of 95%, with continued strong booking activity expected into 2025 [9][10] Market Data and Key Metrics Changes - Market conditions for compression services remain favorable, particularly in oil plays with associated gas production, such as the Permian Basin [9] - The average revenue per horsepower increased to $20.85, marking the 11th consecutive quarter of sequential increases [10] Company Strategy and Development Direction - The acquisition of TOPS is expected to enhance Archrock's position in the contract compression services market, adding 580,000 horsepower of young assets [12][13] - The acquisition aligns with the company's strategic focus on investing in high-quality, high-return compression assets while maintaining a strong balance sheet [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing strength of the natural gas market, anticipating sustained demand for compression services [6][19] - The company reaffirmed its full-year 2024 adjusted EBITDA guidance, excluding the impact of the TOPS acquisition, projecting a range of $510 million to $540 million [18] Other Important Information - Growth capital expenditures for Q2 2024 totaled $62 million, with a year-to-date total of $140 million [15] - The company plans to fund the TOPS acquisition with a combination of cash and newly issued common shares, maintaining a consistent leverage ratio [16] Q&A Session Summary Question: Year-to-date growth CapEx spending and horsepower dynamics - Management noted a 95% utilization rate, indicating that much of the idle fleet horsepower has been put to work, resulting in less horsepower available for new bookings [22] Question: Lead times and equipment cost inflation - Lead times for equipment are approximately 40 weeks, with inflation for equipment costs returning to historic levels of 3% to 5% [25] Question: Pricing strategy and market conditions - Management indicated that 80% to 90% of the fleet is eligible for price increases over the next 18 months, with ongoing strong demand supporting pricing power [28][29] Question: Maintenance CapEx and guidance - Higher maintenance CapEx in the quarter was attributed to parts expenses and timing, with current guidance remaining unchanged [31] Question: Outlook for aftermarket business margins - The aftermarket service segment is expected to maintain above 20% margins due to strong service activity driven by high utilization levels [33]

Archrock Inc. (AROC) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.17%. A quarter ago, it was expected that this natural gas compression services business would post earnings of $0.22 per share when it actually produced earnings of $0.26, delivering a surprise of 18.18%.Over the l ...

Archrock Reports Second Quarter 2024 Results HOUSTON, July 30, 2024 - Archrock, Inc. (NYSE: AROC) ("Archrock") today reported results for the second quarter 2024. Second Quarter 2024 and Recent Highlights | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

HOUSTON, July 30, 2024 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) today reported results for the second quarter 2024. Second Quarter 2024 and Recent Highlights Revenue for the second quarter of 2024 was $270.5 million compared to $247.5 million in the second quarter of 2023.Net income for the second quarter of 2024 was $34.4 million compared to $24.7 million in the second quarter of 2023.Adjusted EBITDA (a non-GAAP measure defined below) for the second quarter of 2024 was $129.7 million co ...