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Why Kodiak Gas Services Stock Wasn't Catching Fire This Week
KGSKodiak Gas Services(KGS) The Motley Fool·2024-08-16 12:20

Core Insights - Kodiak Gas Services experienced a challenging quarter, with stock prices dropping nearly 9% following a disappointing earnings report [1] Financial Performance - Revenue for the second quarter increased by 52% year-over-year, reaching nearly 310million,significantlysurpassingtheaverageanalystestimateof310 million, significantly surpassing the average analyst estimate of 223 million [2] - Net income fell sharply by 62%, amounting to 6.7million,or6.7 million, or 0.06 per share, which was below the consensus estimate of 0.34pershare[2]StrategicDevelopments−Thecompanyhighlightedpositivedevelopments,includingthecompletionoftheacquisitionofCSICompressco,whichformedthelargestcontractcompressionfleetintheindustry[3]−Kodiakhasraiseditsfull−yearguidancefornon−GAAP(adjusted)EBITDAtoarangeof0.34 per share [2] Strategic Developments - The company highlighted positive developments, including the completion of the acquisition of CSI Compressco, which formed the largest contract compression fleet in the industry [3] - Kodiak has raised its full-year guidance for non-GAAP (adjusted) EBITDA to a range of 590 million to 610millionfor2024,upfromapreviousrangeof610 million for 2024, up from a previous range of 580 million to $610 million [3]