Record Quarter Performance
The company delivered a record quarter across several key metrics, driven by exceptional field service and the performance of the smart enabled large horsepower fleet. Rented horsepower ended the quarter at an all-time high, and rental revenue and gross margin were strong.
Increased 2025 EBITDA Guidance
Adjusted EBITDA for the second quarter was a record $19.7 million, with first half adjusted EBITDA at $39 million. The company raised its 2025 adjusted EBITDA guidance to $76 million to $80 million.
Inaugural Quarterly Dividend and Share Repurchase Program
In July, NGS initiated its inaugural quarterly dividend and authorized a share repurchase program, underscoring the durability of its cash generation and confidence in its outlook.
Strong Fleet Expansion and Utilization
Rented horsepower increased 10% year-on-year, with fleet utilization improving to 83.6%. Rental revenue per average horsepower per month increased by 2.7% year-over-year.
Improved Financial Metrics
Total revenue was $41.4 million, up 8% from the prior year quarter. Net income was $5.2 million, up $0.9 million year-over-year. The leverage ratio was 2.3%, the lowest among public comparables.