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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) has appointed Micah C. Foster as Vice President and Chief Financial Officer, effective immediately. Foster brings over 17 years of experience in the energy sector, previously serving as Chief Accounting Officer at Legacy Reserves. He replaces G. Larry Lawrence, who held the interim CFO role since January. The leadership change aims to strengthen NGS’s financial operations as the company continues to provide gas compression solutions. A Current Report detailing Foster’s appointment will be filed with the SEC.
Natural Gas Services Group, Inc. (NYSE:NGS) has announced its first quarter 2021 earnings release scheduled for Thursday, May 13, 2021, before market opens. The earnings will be distributed via Nasdaq OMX and the company's website. A conference call to discuss these results will occur on the same day at 10:00 a.m. Central. Stephen Taylor, the CEO, will lead the discussion. NGS specializes in manufacturing and maintaining gas compression equipment for the natural gas industry, focusing on non-conventional gas and oil sectors.
Natural Gas Services Group, Inc. (NGS) announces the appointment of Nigel Jenvey to its Board of Directors, filling the vacancy left by retiring director William F. “Frank” Hughes, Jr. Jenvey, an expert in carbon management, will chair the newly established Environmental, Social, and Governance (ESG) Committee. This committee will focus on developing company policies addressing ESG issues. Additionally, director Leslie Beyer received recognition as an influential leader in the energy sector.
Natural Gas Services Group (NGS) reported its 2020 financial results showing a 13.2% drop in total revenue to $68.1 million. Despite a challenging market, the company experienced a cash balance increase of 150% to $28.9 million, driven by strong operating cash flow of $32.6 million. Rental revenue rose 7.3% to $60.8 million, but sales revenue plummeted 71% to $5.7 million. Net income for 2020 was $1.8 million per share, an improvement from a $13.9 million loss in 2019. The company also posted an adjusted EBITDA of $22.7 million, down 5.5% from 2019.
Natural Gas Services Group, Inc. (NYSE:NGS) will release its fourth quarter and full year 2020 earnings on March 30, 2021, before market opens. The earnings distribution will be available via Nasdaq OMX and on the company's website. A conference call is scheduled for 10:00 a.m. Central on the same day, led by CEO Stephen Taylor, to discuss financial results. A replay of the call will be accessible on their website shortly after the event. NGS specializes in gas compression equipment, focusing on non-conventional gas and oil sectors.
Natural Gas Services Group, Inc. (NGS) reported Q3 2020 results with total revenue of $15.8 million, down from $20.9 million in Q3 2019, primarily due to a drop in compressor sales. Despite a net loss of $562,000 ($0.04 per diluted share), cash flow from operations increased by 31% to $27.9 million year-over-year. Cash balance surged 78% to $27.6 million due to strong cash flow and reduced CAPEX. Although rental revenue rose 3% to $14.9 million, total gross margins fell to $1.7 million from $3.8 million in the prior year, emphasizing challenges in sales but solid rental performance.
Natural Gas Services Group, Inc. (NYSE:NGS) announced it will file its Form 10-Q after market close on November 16, 2020, with an earnings call scheduled for November 17, 2020, at 10:00 am CST. The company filed Form 12b-25 to extend the filing deadline for its Quarterly Report due to challenges related to the COVID-19 pandemic. Staff exposure and positive cases led to office closures and staffing constraints, delaying financial data collection necessary for the report.
Natural Gas Services Group, Inc. (NGS) reported its financial results for Q2 2020, showing a net income of $165,000 ($0.01 per diluted share). Adjusted EBITDA increased 13% from Q1 2020 to $6.5 million, while rental revenue rose 11.5% year-over-year to $15.1 million. However, total revenue decreased to $17.4 million, down from $19.9 million last year, primarily due to a significant drop in sales revenue. The company maintains a strong liquidity position with $15.5 million in cash and low debt. Management forecasts capital expenditures between $8-$10 million for H2 2020.
Natural Gas Services Group (NGS) filed Form 12b-25 to extend the due date for its Quarterly Report on Form 10-Q for the period ending June 30, 2020. Citing challenges due to COVID-19, the company was unable to finalize financial results timely, with its headquarters closed since June 29, 2020, following positive virus tests among staff. NGS plans to file the report soon and will hold an earnings call on August 18, 2020. The ongoing pandemic has impacted the company’s operations, necessitating these extensions.
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