Midland, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. (NYSE:NGS), a leading provider of natural gas compression equipment, technology and services to the energy industry, will host a conference call to review its third-quarter financial results on Friday, November 15, 2024 at 8:30 a.m. (EST), 7:30 a.m. (CST). The Company’s Q3 2024 financial and operating results for the nine months ended September 30, 2024 will be disseminated via press release and made available on the Company’ ...

GUANGZHOU, China, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR, the "Company" or "Burning Rock"), an innovative company in the field of precision oncology, and Dizal, a global biopharmaceutical company focused on malignant tumors and immunological diseases, jointly announced that the companion diagnostic (CDx) for EGFR exon 20 insertion mutation (exon20ins) for sunvozertinib, developed through their collaboration, has been approved by the National Medical Products Administrati ...

Midland, Texas, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. ("NGS" or the "Company") (NYSE: NGS), a leading provider of natural gas compression equipment, technology, and services to the energy industry, today announced its participation at two investor conferences in September 2024. Justin Jacobs, Chief Executive Officer of Natural Gas Services Group will present at the Lake Street Capital Markets 8th Annual Best Ideas Growth (BIG8) Conference on Thursday, September 12, 2024. The co ...

Midland, Texas, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. ("NGS" or the "Company") (NYSE:NGS), a leading provider of natural gas compression equipment, technology, and services to the energy industry, today announced financial results for the three months ended June 30, 2024. The Company also updated its prior guidance for the full year, increasing its outlook for both Adjusted EBITDA and growth capital expenditures. Second Quarter 2024 Highlights Rental revenue of $34.9 million, an ...

Midland, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. (NYSE:NGS), a leading provider of natural gas compression equipment, technology and services to the energy industry, will host a conference call to review its second-quarter financial results on Thursday, August 15, 2024 at 8:30 a.m. (EST), 7:30 a.m. (CST). The Company's Q2 2024 financial and operating results for the three months ended June 30, 2024 will be disseminated via press release and made available on the Company's website ...

Midland, Texas, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. (NYSE: NGS), a leading provider of gas compression equipment, technology, and services to the energy industry, announced today that James Hazlett, who served as Chief Technology Officer of the Company and worked with Natural Gas Services Group since 2005, has officially retired. "I would like to personally thank Jim for his two decades of dedicated service to Natural Gas Services Group," said Steve Taylor, Chairman of the Com ...

Venlo, the Netherlands, and Redwood City, California, June 13, 2024 (GLOBE NEWSWIRE) -- QIAGEN (NYSE: QGEN; Frankfurt Prime Standard: QIA) today announced the release of a new version of its clinical decision support software, QIAGEN Clinical Insight Interpret (QCI Interpret), that brings significant performance and scalability enhancements tailored for high-throughput, next-generation sequencing (NGS) labs moving to larger test panels and higher test volumes. The latest version of QCI Interpret introduces ...

Midland, Texas, June 10, 2024 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. ("NGS" or the "Company"), a premier provider of natural gas compression equipment to the energy industry, announced today the closing of an expansion of its existing credit facility (the "Facility") led by Texas Capital Bank. The Company added $75 million of additional borrowing capacity to increase the committed borrowing capacity to $300 million. The Facility provides the Company with additional capital to fund further grow ...

Midland, Texas, June 10, 2024 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. ("NGS" or the "Company"), a premier provider of natural gas compression equipment to the energy industry, announced today the closing of an expansion of its existing credit facility (the "Facility") led by Texas Capital Bank. The Company added $75 million of additional borrowing capacity to increase the committed borrowing capacity to $300 million. The Facility provides the Company with additional capital to fund further grow ...

Financial Data and Key Metrics Changes - The company's adjusted EBITDA for 2023 was $45.6 million, reflecting a growth rate of 56% from $29.2 million in 2022 [2] - Total revenue for Q1 2024 increased to $36.9 million, up 39% from $26.6 million in Q1 2023 [61] - Adjusted gross margin for Q1 2024 was 57.2%, significantly higher than 41.8% in Q1 2023 [20] - Net income for Q1 2024 was $5.1 million, compared to $370,000 in Q1 2023 [21] Business Line Data and Key Metrics Changes - Rental revenue for Q1 2024 was $33.7 million, a 48% increase year-over-year from $22.7 million in Q1 2023 [61] - Rental adjusted gross margin dollars increased to $20.6 million in Q1 2024 from $11.1 million in Q1 2023, representing an 86% increase [4] - The rental adjusted gross margin as a percentage of sales for Q1 2024 was 61.1%, compared to 48.8% in Q1 2023 [4] Market Data and Key Metrics Changes - Approximately 75% of the active fleet is located in oil and liquids-oriented basins, where activity is primarily driven by crude oil prices [7] - The company reported stable to increasing production levels in the near to medium term, supported by steady oil prices [7] Company Strategy and Development Direction - The growth strategy includes optimizing the existing utilized fleet, improving asset utilization, expanding the high-horsepower rental fleet, and executing accretive mergers and acquisitions [9] - The company aims to maintain a target return on invested capital of at least 20% for growth capital expenditures [25] - The company is actively discussing new unit contracts but will only spend capital when units are pre-contracted [26] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook for the compression market, citing significant demand for rental equipment and attractive pricing [7] - The company anticipates some moderation in rental adjusted gross margin percentage over the course of the year [24] - Management remains cautious about the natural gas market, noting reduced production and low prices, but sees a favorable environment for growth in high horsepower units [65] Other Important Information - The company ended Q1 2024 with $5.2 million in cash and $172 million outstanding on its credit facility, maintaining compliance with financial covenants [22] - The average horsepower per unit increased to 286 horsepower as of March 31, 2024, up from 277 horsepower at year-end 2023 [63] Q&A Session Summary Question: What is the sense of how gross margin normalizes? - Management indicated that while they expect some retrenchment, they are gathering more data to understand the sustainability of higher margins with the increasing high-horsepower mix [27] Question: How much opportunity is there for pricing in the pre-existing fleet? - Management noted that the majority of gross profit increase comes from new units, with a substantial contribution from price increases on existing units [30] Question: What is the demand environment for high horsepower units? - Management confirmed strong demand for high horsepower units, with good pricing and contract lengths, similar to previous calls [13]