Overview

* Kodiak Q3 revenue missed analyst expectations, adjusted EBITDA also missed

* Company reported net loss of $14 mln, impacted by divestment and tax reserve expenses

* Kodiak increased full-year 2025 discretionary cash flow guidance to $450-$470 mln

Outlook

* Kodiak raises full-year 2025 discretionary cash flow guidance to $450 mln-$470 mln

* Company maintains full-year 2025 adjusted EBITDA guidance at $700 mln-$725 mln

* Kodiak expects 2025 contract services revenues between $1.16 bln and $1.2 bln

Result Drivers

* CONTRACT SERVICES REVENUE - Record revenue of $297 mln driven by increased fleet utilization and deployment of new compression units

* FLEET UTILIZATION - Fleet utilization increased to 97.6%, a 120 basis point increase compared to third quarter 2024

* DISCRETIONARY CASH FLOW - Increased full-year 2025 discretionary cash flow guidance to $450-$470 mln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $322.74 $328.70

Revenue mln mln (7

Analysts

)

Q3 Net -$14.01

Income mln

Q3 Miss $174.70 $176.85

Adjusted mln mln (10

EBITDA Analysts

)

Q3 Free $33.46

Cash mln

Flow

Q3 $64.20

Income mln

from

Operatio

ns

Q3 $258.54

Operatin mln

g

Expenses

Q3 -$20.49

Pretax mln

Profit

Press Release:

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(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.)