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Kodiak Gas Services Reports Third Quarter 2026 Financial Results, Increases Full Year 2026 Adjusted EBITDA and Discretionary Cash Flow Guidance

KGS
  • Kodiak Gas Services reported record Compression Infrastructure segment revenues of $318.4 million for the quarter ended September 30, 2026.
  • Power Infrastructure segment revenues increased 27.6% to $42.0 million compared to the second quarter of 2026.
  • The company reported net income attributable to common shareholders of $71.5 million, or $0.70 per diluted share.
  • Adjusted EBITDA reached a record $224.5 million, representing a 28.5% increase compared to the third quarter of 2025.
  • Discretionary cash flow increased 35.9% to $158.5 million for the quarter.
  • The Board declared a quarterly dividend of $0.51 per share, a 4.1% increase over the second quarter of 2026.
  • Kodiak added 102,000 horsepower of new large compression units to its revenue-generating fleet.
  • Compression Infrastructure fleet utilization reached 98.3%, while Power Infrastructure fleet utilization was 92.5%.
  • The company announced an agreement to provide 76 megawatts of baseload power capacity to a West Texas data center.
  • Full-year 2026 Adjusted EBITDA guidance was raised to a range of $840 million to $860 million.
  • Full-year 2026 discretionary cash flow guidance was raised to a range of $580 million to $600 million.
  • Growth capital expenditures were adjusted with a reduction in Power Infrastructure expectations & a slight increase in Compression Infrastructure expectations.
  • Total long-term debt stood at $2.8 billion as of September 30, 2026, with total liquidity of $1.7 billion.
  • The share repurchase program was extended to December 31, 2027, with approximately $31.7 million available for repurchases.