Core Insights - Natural Gas Services Group, Inc. (NGS) reported significant financial growth for the year ended December 31, 2024, with expectations for continued momentum into 2025 and beyond [1][3]. Financial Performance - For Q4 2024, total revenue increased by 12% to 36.2 million in Q4 2023, driven primarily by a 21% rise in rental revenue [9]. - Full-year 2024 rental revenue reached 69.5 million, representing a 52% increase from 2023, marking the highest level in the company's history [5][15]. - Net income for Q4 2024 was 0.23 per diluted share, up 68% year-over-year, while full-year net income was 1.37 per diluted share, reflecting a 263% increase [5][12]. Operational Highlights - The utilized rental fleet approached 500,000 horsepower in 2024, with a year-over-year growth of 17% [4][6]. - The company maintained a leverage ratio of 2.36x at year-end 2024, down from 2.53x at the end of 2023, indicating improved capital efficiency [3][16]. 2025 Guidance - For 2025, NGS expects growth capital expenditures to be in the range of 120 million, primarily for new units under contract [5][8]. - The company anticipates 2025 Adjusted EBITDA to be between 78 million, representing a 9% increase over 2024 [7][8]. - Rented horsepower is projected to increase by approximately 90,000 horsepower, or 18%, by year-end 2025 [6][8]. Market Position and Strategy - NGS has diversified its customer base and expanded its fleet, positioning itself to capture market share and drive organic growth [3]. - The company emphasizes its commitment to maintaining industry-leading service levels and strong partnerships with customers as key drivers of its success [3].
Natural Gas Services Group, Inc. Reports Fourth Quarter and Year-End 2024 Financial and Operating Results; Provides 2025 Guidance