AcquisitionsAug 10, 2026, 04:10 PM
Natural Gas Services Group Acquires Flatrock for $119M
AI Summary
Natural Gas Services Group completed the accretive acquisition of Flatrock Compression Holdings for $118.98 million, significantly expanding its operational density in the Permian Basin and Eagle Ford. For the second quarter of 2026, total revenue rose 24.2% to $51.4 million, though net income decreased 26.2% to $3.83 million. For the six months ended June 30, 2026, total revenue increased 20.6% to $99.87 million, and net income grew 5.5% to $10.59 million. The company also increased its credit facility to $500 million and received a $13.8 million income tax refund.
Key Highlights
- Acquired Flatrock Compression Holdings for $118.98 million, including $108.9 million cash and $9.999 million in common stock.
- Total revenue for Q2 2026 increased 24.2% to $51.4 million from $41.4 million in Q2 2025.
- Net income for Q2 2026 decreased 26.2% to $3.83 million ($0.30 EPS) from $5.19 million ($0.42 EPS) in Q2 2025.
- Total revenue for H1 2026 increased 20.6% to $99.87 million from $82.77 million in H1 2025.
- Net income for H1 2026 increased 5.5% to $10.59 million ($0.83 EPS) from $10.04 million ($0.80 EPS) in H1 2025.
- Increased credit facility commitment to $500.0 million from $400.0 million, with $328.0 million outstanding.
- Received $13.8 million in federal income tax refunds and related interest through June 30, 2026.
- Declared quarterly dividends of $0.11 per share for Q1 2026 and $0.15 per share for Q2 2026.
Price Impact
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