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USA Compression Q2 Earnings & Revenues Top Estimates
USA Compression Partners (NYSE: USAC) reported a second-quarter adjusted net profit of 21 cents per common unit, which beat the Zacks Consensus Estimate of 17 cents due to its improved pricing and utilization. The metric also improved significantly from the year-ago quarter's adjusted net profit of 8 cents per share on the back of a higher-than-expected, revenue-generating capacity.
The largest independent provider of natural gas compression services generated revenues of $235.3 million, improving 13.7% from the year-ago quarter's level and beating the Zacks Consensus Estimate of $233 million. This revenue growth was propelled by a 13.5% year-over-year increase in Contract operations and a notable 42.1% surge in Parts and Service revenues.
USA Compression Partners, LP Price, Consensus and EPS Surprise
USA Compression Partners, LP price-consensus-eps-surprise-chart | USA Compression Partners, LP Quote
Adjusted EBITDA increased 14.9% to $143.7 million and came ahead of our estimate of $134.6 million.
Distributable cash flow increased from $67 million in the prior-year quarter to $85.9 million. The company reported a net income worth $31.2 million compared with $23.6 million a year ago.
USAC reported operating cash flow of $96.7 million in the second quarter, up from the prior-year quarter's $87.9 million.
Adjusted gross operating margin of 66.8% marked an increase from the year-ago period's 66.2%.
The company's revenue-generating capacity increased 6.2% year over year to 3.5 million horsepower, surpassing the Zacks Consensus Estimate by 0.1%. The figure came in above our estimate of 3.44 million horsepower.
Further, the average monthly revenue per horsepower rose to $20.29 from $18.65 in ...