Quarterly ResultMay 11, 2026, 04:12 PM
Kodiak Gas Q1 Revenue $345.8M; Net Income $17.9M; Debt Restructured
AI Summary
Kodiak Gas Services reported Q1 2026 revenues of $345.8 million, an increase from $329.6 million in Q1 2025. However, net income decreased to $17.9 million from $31.0 million in the prior year, primarily due to a $36.5 million loss on extinguishment of debt. The company redeemed its 2029 Senior Notes and issued $1.0 billion in new 2031 Senior Notes, leading to an increase in long-term debt to $2.79 billion. Cash and cash equivalents significantly increased to $94.4 million.
Key Highlights
- Net income decreased to $17.86 million in Q1 2026 from $31.04 million in Q1 2025.
- Total revenues increased to $345.76 million in Q1 2026 from $329.64 million in Q1 2025.
- Recognized a $36.51 million loss on extinguishment of debt for the three months ended March 31, 2026.
- Redeemed 2029 Senior Notes with a cash outlay of $785.5 million.
- Issued $1.0 billion in 5.875% senior unsecured 2031 Senior Notes.
- Cash and cash equivalents rose to $94.36 million as of March 31, 2026, from $3.18 million at year-end 2025.
- Long-term debt, net, increased to $2.79 billion as of March 31, 2026, from $2.56 billion at year-end 2025.
- Paid $43.02 million in dividends to stockholders for the three months ended March 31, 2026.
Price Impact
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