Kodiak Gas Services Q1 revenue beats on DPS acquisition boost

Kodiak Gas Services

11/05/2026 11:12

Overview

U.S. energy infrastructure provider's Q1 revenue and adjusted EBITDA beat analyst expectations

Company raised full-year guidance to include new distributed power business after DPS acquisition

Net income fell yr/yr due to debt extinguishment and acquisition-related expenses

Outlook

Kodiak raises 2026 adj EBITDA guidance to $820 mln-$860 mln including new power segment

Company expects 2026 compression infrastructure revenue of $1.25 bln-$1.28 bln

Kodiak anticipates annual power generation capacity growth of 300-500 MWs through 2030

Result Drivers

CONTRACT COMPRESSION GROWTH - Record Contract Services revenue and gross margin driven by strong demand for natural gas compression infrastructure

POWER SEGMENT EXPANSION - Acquisition of DPS and increased power generation capacity positioned to meet rising demand from data centers and industrial customers

HIGH FLEET UTILIZATION - Tight market for large horsepower compression units led to high fleet utilization, supporting revenue growth

Company press release: ID:nBw6Ss92ta

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$345.76 mln
$340.25 mln (7 Analysts)
Q1 Net Income
$17.81 mln
Q1 Adjusted EBITDA
Beat
$190.09 mln
$185.59 mln (10 Analysts)
Q1 Free Cash Flow
$36.96 mln
Q1 Income from Operations
$106.81 mln
Q1 Operating Expenses
$238.95 mln
Q1 Pretax Profit
$20.62 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil related services and equipment peer group is "buy"

Wall Street's median 12-month price target for Kodiak Gas Services Inc is $63.00, about 9.5% below its May 8 closing price of $69.65

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 18 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)