Kodiak Gas Services, Inc. (KGS) Form 10-Q — Aug 7, 2026

$KGSForm 10-QFiled Aug 7, 2026, 4:47 PM ET0001767042-26-000055Original filing

Kodiak Gas Services delivered a strong second quarter, with total revenues of $391.1 million, up 21.1% year over year, and net income attributable to common shareholders of $52.0 million, up 31.6%, lifting diluted EPS to $0.53 from $0.43 a year ago. Compression Infrastructure revenue rose 7.4% on pricing and higher revenue-generating horsepower, with fleet utilization at 98.2%. The quarter marks the company's transformation into a broader energy infrastructure platform following the April 1, 2026 acquisition of Distributed Power Solutions for total consideration of $726.4 million.

Key figures

Eps: $0.54 basic / $0.53 diluted (Q2 2026); $0.76 basic / $0.75 diluted (1H 2026)
Revenue: $391.1M Q2 2026; $736.9M 1H 2026
Net Income: $52.1M Q2 2026 (+30.4% YoY); $70.0M 1H 2026 (-1.4% YoY)
Total Debt: $2.8B total debt outstanding
Revenue Yoy: +21.1% Q2; +12.9% 1H
Total Assets: $5.50B
Cash Position: $137.6M as of June 30, 2026 (vs $3.2M at Dec 31, 2025)
Dividend: $0.49/share declared Aug 5, 2026, payable Aug 27, 2026
Liquidity: ~$1.7B ($137.6M cash + $1.6B ABL availability)
Power fleet: 405 MW capacity; 363 MW revenue-generating; 89.6% utilization; 149 units
Abl facility: $2.0B commitments, $380.9M drawn, maturity Sept 5, 2030
Dps goodwill: $344.8M
Equity offering: 12.2M shares at $71.00; net proceeds $836.1M
Fleet horsepower: 4,495,394 hp (+1.7% YoY); fleet utilization 98.2%
2031 senior notes: $1.0B at 5.875% due 2031
Acquisition costs: $3.3M Q2 / $11.6M 1H
Buyback remaining: $31.7M of $100M authorization
Shares outstanding: 101104031
Purchase commitments: $2.5B, of which $587.9M settles within 12 months
2029 notes defeasance: $785.5M cash outlay; $36.5M loss on extinguishment
Operating cash flow 1h: $170.6M (down $120.9M YoY on $154.6M working capital use)
Dps total consideration: $726.4M ($587.3M cash + $139.0M in 2.4M shares at $57.90)
Texas sales tax liability: $65.8M (down from $102.3M)
Dps revenue contribution 1h: $37.0M
Q2 net income attributable common: $52.0M (+31.6% YoY)
Remaining performance obligations: $2.6B (Compression Infrastructure)

Price after filing

1 day: +3.5%7 days: +13.0%30 days: +8.2%

Close on the filing date to close N calendar days later (from $57.85). Historical, not a forecast.

AI analysis

Red flags5 · Pro

The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.

Upgrade to Pro · $49/mo billed annually

AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.