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]

Midland, Texas, May 15, 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 March 31, 2024. First Quarter 2024 Highlights Rental revenue of $33.7 million, an increase of 48% when compared to the first quarter of 2023 and 7% when compared to the fourth quarter of 2023. Net income of $5.1 million, or $0. ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 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 Number 1-31398 NATURAL GAS SERVICES GROUP, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Colorado 75-2811855 (State or oth ...

Midland, Texas, May 09, 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 first-quarter financial results on Thursday, May 16, 2024 at 8:30 a.m. (EST), 7:30 a.m. (CST). The Company's Q1 2024 financial and operating results for the three months ended March 31, 2024 will be disseminated via press release and made available on the Company's website ( ...

Natural Gas Services Group, Inc. (NYSE:NGS) Q4 2023 Earnings Conference Call April 2, 2024 8:30 AM ET Company Participants Anna Delgado - Investor Relations Justin Jacobs - Chief Executive Officer Steve Taylor - Chairman John Bittner - Interim Chief Financial Officer Conference Call Participants Rob Brown - Lake Street Capital Markets Tim O'Toole - TETRA Capital Tate Sullivan - Maxim Group Operator Good morning. Ladies and gentlemen, and welcome to the Natural Gas Services Group Incorporated Quarter Four Ea ...

Natural Gas Services Group, Inc. Reports Full Year and Fourth Quarter 2023 Earnings MIDLAND, Texas April 1, 2024- Natural Gas Services Group, Inc. (NYSE:NGS) (the "Company" or "NGS"), a leading provider of gas compression equipment, technology and services to the energy industry, announces its financial results for the three months and full year ended December 31, 2023. Financial results contained herein reflect the consolidated financial statements included in the Company's Form 10-K that will be filed on ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 number: 1-31398 NATURAL GAS SERVICES GROUP, INC. (Exact Name of Registrant as Specified in its Charter) Co ...

Natural Gas Services Group, Inc. (NYSE:NGS) Q3 2023 Earnings Conference Call November 15, 2023 11:00 AM ET Company Participants Anna Delgado - IR Steve Taylor - Chairman and Interim CEO John Bittner - CFO Conference Call Participants Tate Sullivan - Maxim Group Rob Brown - Lake Street Capital Markets Tim O'Toole - TETRA Capital Operator Good morning, ladies and gentlemen, and welcome to the Natural Gas Services Group Inc. Quarter 3, 2023 Earnings Call. [Operator Instructions] I would now like to turn the ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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 Number 1-31398 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Colorado 75-28118 ...

Natural Gas Services Group, Inc. (NYSE:NGS) Q2 2023 Earnings Conference Call August 15, 2023 11:00 AM ET Company Participants Anna Delgado - Investor Relations Steve Taylor - Chairman and Interim President and Chief Executive Officer Conference Call Participants Rob Brown - Lake Street Capital Hale Hoak - Hoak & Company Kyle Krueger - Apollo Capital Operator Good morning, ladies and gentlemen, and welcome to the Natural Gas Services Group, Inc. Quarter Two 2023 Earnings Call. At this time, all participants ...