)
Visual
earnings real time
Kodiak Gas Services (KGS) investor relations material
Kodiak Gas Services Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Achieved strong Q3 2025 results with sequential and year-over-year growth in revenue, margins, and discretionary cash flow, driven by robust US demand, strategic divestitures, and technology investments.
Revenue for the nine months ended September 30, 2025, increased 14.8% year-over-year to $975.2 million, with net income up 81.4% to $55.9 million.
Successfully exited all international operations, including the sale of Mexico operations, incurring a $33.3 million loss and focusing exclusively on the US market.
Implemented a new ERP system under budget, enabling real-time data and AI integration across business processes.
Returned over $90 million to shareholders through share repurchases and dividends, with a 9% dividend increase sequentially and 20% year-to-date.
Financial highlights
Q3 adjusted EBITDA was $175 million, impacted by $5 million in non-recurring SG&A from the Mexico divestiture; adjusted EBITDA for the nine months was $530.6 million, up 20.5% year-over-year.
Adjusted net income was $31.5 million ($0.36 per diluted share); net loss attributable to common shareholders was $14 million due to one-time items.
Discretionary cash flow reached $117 million for the quarter and over $450 million for the last four quarters, with free cash flow for the quarter at $33 million.
Maintenance CapEx was $20 million, trending to the low end of guidance; growth CapEx doubled to $80 million on new horsepower additions.
Dividends paid totaled $117 million year-to-date, with a quarterly dividend of $0.49 per share declared for Q3 2025.
Outlook and guidance
On track to meet or exceed full-year 2025 revenue, margin, and adjusted EBITDA guidance, with discretionary cash flow guidance increased to $450–$470 million.
Full-year 2025 adjusted EBITDA guidance raised to $700–$725 million.
2026 capital plan is nearly fully contracted, with strong demand and extended equipment lead times; more detailed guidance to be provided next quarter.
Contract Services revenue expected between $1.16–$1.2 billion with adjusted gross margin percentage of 67–69%.
Management expects to fund dividends and growth capital expenditures primarily through discretionary cash flow.
What drove the Q3 net loss vs. adjusted income?
Reason for Other Services segment revenue drop?
Reconcile Q3 FCF drop with higher growth capex.
Prioritized M&A opportunities for 2026
What drives expected 2026 margin expansion
Customer shift from electric compression
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Kodiak Gas Services earnings date
Q4 20255 Mar, 2026
Next Kodiak Gas Services earnings date
Q4 20255 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
Related articles
)
)
Frequently asked questions
Kodiak Gas Services, Inc. is a provider of contract compression services in the United States, specializing in the operation of both company-owned and customer-owned compression infrastructure. This infrastructure supports the production, gathering, and transportation of natural gas and oil. Kodiak operates in two main segments: Compression Operations and Other Services. The latter includes a variety of contract services such as station construction, maintenance, overhaul, and other ancillary services. The company's headquarters are located in The Woodlands, Texas, and its shares are listed on the New York Stock Exchange.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage