Welcome to our dedicated page for Archrock news (Ticker: AROC), a resource for investors and traders seeking the latest updates and insights on Archrock stock.
Archrock Inc. (NYSE: AROC) is a premier provider of natural gas contract compression services in the United States, holding a prominent position in the energy infrastructure sector. Established over 60 years ago, the company has built a legacy of reliability and expertise, delivering essential compression services to the oil and natural gas industry. With the largest fleet in the country, strategically located assets, and highly skilled, certified technicians, Archrock ensures its services are available where and when they're needed most.
Archrock operates through two primary business segments: Contract Operations and Aftermarket Services. The Contract Operations segment caters to the installation, operation, and maintenance of natural gas compression equipment, supporting customers' efforts to produce, compress, and transport natural gas efficiently. In contrast, the Aftermarket Services segment provides comprehensive services for customers who own compression equipment, including maintenance, overhaul, reconfiguration, and parts sales.
Recent achievements underscore Archrock's robust performance and strategic direction. In the third quarter of 2023, the company achieved record levels in utilization, revenue per horsepower, and Adjusted EBITDA. The contract operations gross margin rose to 64%, reflecting positive pricing trends and effective cost management. Furthermore, Archrock has committed its 2024 new build capital and is experiencing strong booking demand extending into 2025, driven by investments in oil basins with associated gas and infrastructure to support growing LNG exports from the U.S.
Financially, Archrock is focused on maintaining a strong balance sheet, enhancing profitability, and delivering returns to shareholders. The company has increased its dividend and engaged in share buybacks, demonstrating confidence in its financial performance and market prospects. Archrock's strategic initiatives include a differentiated capital allocation framework aimed at sustainable dividend growth, leverage reduction, and high-return capital expenditures.
With a commitment to environmental responsibility and operational excellence, Archrock continues to support the natural gas industry's critical infrastructure needs. By leveraging its extensive market presence and operational capabilities, Archrock remains well-positioned to capitalize on the enduring demand for natural gas compression services, contributing to the broader goal of providing cleaner, reliable, and affordable energy.
Archrock, Inc. (NYSE: AROC) announced that its subsidiary, Archrock Partners, L.P., plans to offer $250 million in senior notes due 2028. The offering will add to previously issued notes of $500 million at a 6.250% interest rate. Proceeds will be used to repay outstanding borrowings and for general partnership purposes. The new notes will not be registered under the Securities Act and are available only to qualified buyers under specific exemptions. Archrock focuses on midstream natural gas compression services in the U.S.
Archrock reported its third quarter 2020 results, showing revenue of $205.6 million, down from $244.9 million in Q3 2019. Net income declined to $18.3 million from $20.4 million year-over-year. Adjusted EBITDA slightly increased to $112.6 million. The company declared a quarterly dividend of $0.145 per share, maintaining a coverage ratio of 3.5x. Archrock reduced its leverage ratio to 4.0x and tightened its Adjusted EBITDA guidance to $405 million to $420 million for 2020.
Archrock (NYSE: AROC) has declared a quarterly dividend of $0.145 per share, maintaining the same rate as the previous quarter and the same period last year. The dividend will be distributed on November 18, 2020 to shareholders recorded by November 12, 2020.
Archrock focuses on midstream natural gas compression services, positioning itself as a leader in the sector within the U.S. The consistent dividend reflects the company's stable financial standing despite the challenging economic environment.
Archrock, Inc. (NYSE:AROC) will host a conference call on November 3, 2020, to review its third quarter 2020 financial and operational results. The call is scheduled for 12:00 p.m. ET, following the release of its earnings report. Investors can access the live webcast on Archrock's website or dial in at 1-877-407-0784 (U.S. & Canada) or 1-201-689-8560 (international). A replay will be available for seven days post-call. Archrock specializes in midstream natural gas compression services across the U.S.
Archrock (NYSE: AROC) announced that its President and CEO, Brad Childers, will meet with investors at the Barclays CEO Energy-Power Conference on September 9, 2020. Additionally, CFO Doug Aron will present at the 9th Annual Gateway Conference on September 10, 2020, at 4:30 p.m. CT.
One-on-one meetings will occur throughout both conferences, with webcast links and slides available on their website prior to the events. Archrock specializes in midstream natural gas compression services across the U.S.
Archrock Services L.P. (NYSE: AROC) has partnered with Williams & Williams to auction surplus real estate properties on September 29. The listings include land lots and two light industrial buildings in Victoria, TX, a 12.22+/- acre lot in Broussard, LA, and a flex office/warehouse property in Belle Chasse, LA. An online auction for a vacant residence in New Castle, PA will occur from September 28-30. Public inspections are scheduled for various dates in September. The auctions are open to the public with no deposit required.
Archrock reported a second-quarter 2020 revenue of $220.3 million, down from $238.4 million in Q2 2019. Net loss reached $30.4 million, contrasting with a profit of $11.4 million the previous year. Adjusted EBITDA was $100.5 million, slightly lower than last year's $100.7 million. Despite a challenging market due to COVID-19, the company maintained its quarterly dividend of $0.145 per share. Archrock's leverage ratio improved to 4.1x, and management remains optimistic about cash flow generation and debt reduction.
Archrock, Inc. (NYSE: AROC) announced a quarterly dividend of $0.145 per share, equating to $0.58 annually, to be paid on August 14, 2020, to stockholders on record by August 10, 2020. This dividend remains unchanged from both the first quarter of 2020 and the second quarter of 2019. As a leading provider of natural gas compression services in the U.S., Archrock focuses on midstream energy infrastructure, supporting the oil and natural gas industry.
Archrock (NYSE: AROC) announced a conference call on July 31, 2020, at 11:00 a.m. Eastern Time to discuss its second quarter 2020 financial and operating results. The conference call will be preceded by the release of the earnings report. Investors can listen to the call via Archrock's website or by dialing designated phone numbers for U.S. and international access. A replay will be available for seven days after the call. Archrock specializes in midstream natural gas compression services and is headquartered in Houston, Texas, with approximately 1,700 employees.
Archrock reported its Q1 2020 financial results, revealing revenue of $249.7 million, a 5.7% increase from $236.2 million in Q1 2019. However, the company suffered a net loss of $61.2 million, a stark contrast to a $19.5 million net income in the previous year, primarily due to a $99.8 million non-cash goodwill impairment. Adjusted EBITDA rose to $112.9 million, up 24% from the previous year. The quarterly dividend was declared at $0.145 per share, reflecting a 10% increase year-over-year. Archrock aims for $75-$85 million in annualized cash savings amid COVID-19 challenges.
FAQ
What is the current stock price of Archrock (AROC)?
What is the market cap of Archrock (AROC)?
What does Archrock Inc. do?
How long has Archrock been in operation?
What are Archrock's primary business segments?
What recent achievements has Archrock reported?
Where is Archrock headquartered?
How does Archrock support its customers?
What is Archrock's approach to environmental responsibility?
What is Archrock's strategy for financial performance?
What drives demand for Archrock's services?
How does Archrock plan to grow in the future?
