Natural Gas Services Group, Inc. - NGS STOCK NEWS

Natural Gas Services Group (NGS) has appointed Jean Holley to its Board of Directors, expanding the board from six to seven members effective November 1, 2024. Holley, currently serving on the boards of Herc Holdings and Accord Financial Corp, brings extensive experience as a former CIO and board director. Her expertise spans digital transformations, operational efficiency, M&A, and cybersecurity programs. The appointment aligns with NGS's strategy to grow its large horsepower rental fleet and expand its customer base. Holley will contribute to the company's technology infrastructure, cybersecurity programs, and data analytics capabilities.

Natural Gas Services Group (NYSE: NGS), a top provider of natural gas compression equipment and services, announced its participation in two investor conferences in September 2024. CEO Justin Jacobs will present at the Lake Street Capital Markets 8th Annual Best Ideas Growth (BIG8) Conference on September 12, 2024, at The Yale Club in New York City.

This event offers NGS an opportunity to showcase its latest innovations and market strategies to potential investors and industry analysts. The company's participation in such conferences highlights its commitment to transparency and shareholder engagement, potentially impacting its stock performance and investor relations.

Natural Gas Services Group (NGS) reported strong Q2 2024 results, with rental revenue up 45% year-over-year to $34.9 million. The company's net income increased to $4.3 million ($0.34 per basic share), compared to $0.5 million in Q2 2023. Adjusted EBITDA rose 66.6% to $16.5 million. NGS also increased its 2024 guidance, now expecting Adjusted EBITDA of $64-68 million and growth capital expenditures of $60-80 million. The company cited robust compression demand, particularly in the Permian Basin, and new contracts with blue-chip customers as drivers for growth. NGS plans to focus on large horsepower compression investments, including electric-driven units, targeting a return on invested capital above 20%.

Natural Gas Services Group (NYSE:NGS), a leading provider of natural gas compression equipment, has scheduled its Q2 2024 earnings release and conference call. The company will release its financial results for the three months ended June 30, 2024, after market close on August 14, 2024. A conference call to discuss these results is set for August 15, 2024, at 8:30 a.m. EST. Investors can join the call by accessing the Investor Relations section of the company's website or dialing (800) 550-9745 with conference ID 167298. NGS designs, rents, sells, and maintains natural gas compressors for oil and natural gas production facilities, utilizing equipment from third-party fabricators and OEM suppliers with in-house assembly.

Natural Gas Services Group (NYSE: NGS) announced the retirement of James Hazlett, Vice President and Chief Technical Officer, effective August 1, 2024. Hazlett, who joined the company in 2005, has been a key figure in NGS's technical success. To ensure a smooth transition, NGS has entered into a 19-month consulting agreement with Hazlett, which includes cash compensation and modified vesting terms for his equity awards.

The company has proactively divided Hazlett's responsibilities among existing leadership, with Brian Tucker (President and COO) and John Rowell (VP, Technical) taking over his duties. NGS anticipates a seamless transition due to established operational continuity. Both the Chairman and CEO expressed gratitude for Hazlett's contributions and confidence in the company's future direction.

Natural Gas Services Group (NGS), a leading provider of natural gas compression equipment, has expanded its existing credit facility by $75 million, increasing the total borrowing capacity to $300 million. This expansion, led by Texas Capital Bank, aims to support NGS's growth strategy by funding the expansion of its rental equipment fleet. The credit facility amendment became effective on June 6, 2024. CEO Justin Jacobs expressed gratitude towards the lending partners for their support in achieving this agreement.

On May 15, 2024, Natural Gas Services Group (NYSE: NGS) reported its financial results for Q1 2024. The key highlights include:

Rental revenue increased by 48% YoY to $33.7 million, and net income surged to $5.1 million ($0.41 per share) from $0.4 million ($0.03 per share) in Q1 2023. Adjusted EBITDA more than doubled to $16.9 million from $7.8 million in the prior-year period.

Total revenue for Q1 2024 rose by 38.6% YoY to $36.9 million. The company also noted an increase in gross margin to $14.2 million and operating income to $9.3 million. Cash and cash equivalents were $5.2 million with a working capital of $54.4 million.

Debt stands at $172 million with a leverage ratio of 2.57. The company reaffirmed its full-year 2024 outlook for adjusted EBITDA between $61 million and $67 million.

Natural Gas Services Group, Inc. (NYSE:NGS) will host a conference call to review Q1 2024 financial results on May 16, 2024. The Company provides natural gas compression equipment, technology, and services to the energy industry. Financial and operating results for Q1 2024 will be released on May 15, 2024. NGS manufactures, rents, sells, and maintains natural gas compressors for oil and natural gas production and plant facilities.