Natural Gas Services Group, Inc. - NGS STOCK NEWS

Natural Gas Services Group, Inc. (NYSE: NGS) has announced its schedule for releasing third quarter 2022 results on November 10, 2022. The financial results will cover the period ending September 30, 2022, and will be released before the market opens. An earnings conference call will take place at 10:00 AM EDT (9:00 AM CDT) on the same day. Participants can access the call via webcast or phone, with details provided in the press release. NGS specializes in gas compression technology for the energy sector, headquartered in Midland, Texas.

Natural Gas Services Group, Inc. (NGS) has rescheduled its second quarter earnings call to August 16, 2022, at 10:00 AM ET after a technical issue disrupted the original connection. Interim CEO John Chisholm apologized for the inconvenience and looks forward to the discussion. Participants can join via the company's website or by phone. NGS specializes in natural gas compression technology and services for the energy industry, with operations in key U.S. energy-producing areas. The company emphasizes the importance of upcoming communications to investors.

Natural Gas Services Group (NGS) reported financial results for Q2 2022, highlighting a 16% increase in rental revenue, totaling $18.1 million, compared to Q2 2021. However, the company faced a net loss of $70,000, an improvement from a loss of $1.9 million a year earlier, yet a decline from a $300,000 profit in Q1 2022. Adjusted EBITDA rose 49% to $6.7 million year-over-year. Despite ongoing inflation and supply chain challenges, NGS plans to invest $40-$50 million in capital expenditures, focusing on equipment demand and efficiency improvements.

Natural Gas Services Group (NGS) announced the schedule for its second quarter 2022 earnings release. The financial results for the three months ended June 30, 2022, will be published after market close on August 15, 2022. An earnings conference call is set for August 16, 2022, at 8:30 AM EDT, accessible via webcast or telephone. NGS specializes in gas compression technology, serving the energy sector with manufacturing and maintenance services in key U.S. energy-producing regions.

Natural Gas Services Group (NGS) announced a significant initiative to convert up to 100 compressor packages from gas engines to electric motors within the next three to six months. This move supports NGS's commitment to environmental stewardship and meets increasing client demand for electric options. The electrification process will reduce greenhouse emissions and lower operating costs by over 25%. The estimated cost for conversion is $45,000 - $60,000 per compressor, funded through cash on hand. An update on this program will be provided during the Q2 earnings call in mid-August.

Natural Gas Services Group, Inc. (NYSE: NGS) has announced the retirement of Stephen C. Taylor as President and CEO after over 17 years of service. He will continue as Chairman of the Board until June 2023. John W. Chisholm, the lead independent director, has been appointed as interim President and CEO. Taylor's leadership is credited with transforming NGS into a leader in gas compression services while maintaining a strong financial position. The transition will commence with today's earnings call, ensuring continuity in operations and customer relations.

Natural Gas Services Group (NGS) reported a net income of $0.3 million for Q1 2022, a significant improvement compared to a loss of $5.6 million in the previous quarter. Revenues rose to $20.3 million, marking a 12.8% sequential increase, driven by a 4% uptick in rental revenue, totaling $17.1 million. Adjusted EBITDA soared 191% sequentially to $6.8 million. The company increased capital expenditure projections to $30-$35 million for 2022, highlighting a robust rental fleet demand despite ongoing inflationary pressures. Cash equivalents stood at $16.4 million with no debt.

Natural Gas Services Group (NYSE:NGS) will release its first quarter 2022 earnings on May 16 after market close. The earnings call is scheduled for May 17 at 10:00 a.m. Central (11:00 a.m. Eastern). Interested parties can listen live by dialing 877-358-7306. A replay will be available on their website. NGS specializes in gas compression equipment for the natural gas industry, focusing on non-conventional gas and oil sectors.

Natural Gas Services Group (NGS) reported financial results for the year ending December 31, 2021, showing a net loss of $9.2 million or $(0.70) per share, a significant decline from a net income of $1.8 million in 2020. Total revenue increased by 6.4% to $72.4 million, largely due to a 4.6% rise in rental revenue. However, cash flow from operations fell to $28.5 million, while cash reserves dropped to $22.9 million. Operating losses surged to $12.4 million, influenced by rising costs associated with new unit deployments and maintenance. Despite challenges, rental fleet utilization improved to 71.2%.