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Natural Gas Services Group, Inc. (NGS) is a key player in the energy sector, specializing in the production and maintenance of natural gas compression equipment. Headquartered in Midland, Texas, the company has established itself as a reliable provider for the oil and gas industry. Natural Gas Services Group offers a comprehensive range of products and services, including the manufacture, fabrication, rental, and sale of natural gas compressors and flare systems.
The company's business operations are divided into three main segments: Rental, Sales, and Aftermarket services. A significant portion of its revenue is generated through the rental of low- to medium-horsepower compression equipment, primarily targeting natural gas production companies operating in unconventional oil and gas regions across the United States.
Recently, NGS has focused on expanding its rental fleet to meet the growing demand for natural gas compression in various energy markets. This strategic move has not only strengthened its market position but also ensured a steady revenue stream. The company's dedication to quality and customer satisfaction is evident in its robust after-sales support and maintenance services.
Financially, Natural Gas Services Group has shown resilience and adaptability, navigating through market fluctuations and maintaining a stable financial condition. The company continues to explore new partnerships and projects to enhance its offerings and expand its market reach.
For the latest updates, investor relations information, and more details about Natural Gas Services Group, Inc., visit their official website.
Natural Gas Services Group, Inc. (NYSE:NGS) reported its financial results for the year ended December 31, 2022. Total revenue rose 17.1% to $84.8 million, driven by a 17.0% increase in rental revenue, totaling $74.5 million. The company's GAAP net loss improved to $0.6 million, or $(0.05) per share, compared to a net loss of $9.2 million in 2021. Adjusted EBITDA increased significantly to $29.2 million from $18.7 million. Rental fleet utilization also improved, reaching 74.8% for horsepower and 65.3% for units. The Earnings Call is scheduled for April 3, 2023, to discuss these results further.
Natural Gas Services Group, Inc. (NYSE:NGS) has announced the rescheduling of its earnings conference call for the fourth quarter and full year of 2022. This decision is made to complete the 2022 audit for the 10-K. The call was initially set for March 23, 2023, at 11:00 a.m. Eastern. NGS plans to release a separate announcement detailing the new date and time for the call.
Based in Midland, Texas, NGS specializes in providing wellhead compression equipment to the natural gas industry, focusing on non-conventional gas and oil sectors. The company also manufactures, rents, and maintains natural gas compressors and flare systems.
Natural Gas Services Group, Inc. (NYSE: NGS) will conduct a conference call on March 23, 2023, at 10:00 a.m. CDT to discuss its fourth-quarter and full-year 2022 financial results. Participants can access the call via webcast on the company's website or by calling (800) 715-9871 with conference ID 5410343. A recording will be available post-call. NGS specializes in natural gas compression technology, providing equipment and services to the energy sector. The company has facilities in Midland, Texas and Tulsa, Oklahoma, serving major energy production areas in the U.S.
Natural Gas Services Group (NGS) received letters from Hoak & Co., owning 9.3% of its shares, requesting the Company halt its CEO search and consider strategic opportunities, including a sale or merger. In response, NGS emphasizes the importance of appointing a permanent CEO and expanding the Board for enhanced expertise. As the retirement of Interim CEO Steve Taylor approaches on June 30, 2023, NGS is working with search firms to identify suitable candidates. The Board remains focused on organic growth through expanding its compressor rental fleet, funded by operating cash flows and an expanded bank facility.
Natural Gas Services Group, Inc. (NGS) announced the resignation of Interim CEO John W. Chisholm, effective November 11, 2022, with Stephen C. Taylor appointed as his successor. In Q3 2022, NGS reported rental revenue of $18.6 million, a 15% increase year-over-year, contributing to total revenue of $20.7 million. The company recorded a net loss of $80,000, improving from a $1.3 million loss in Q3 2021. Adjusted EBITDA surged by 44% to $7.7 million. NGS noted inflationary pressures impacting operating expenses but emphasized continued demand for large horsepower compression.
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