Record-Breaking Quarter Across Key Metrics
NGS delivered a record quarter in total rented horsepower, horsepower utilization, adjusted EBITDA, and earnings per share driven by strong field service execution and technology-enabled uptime.
Significant Increase in Rented Horsepower
Rented horsepower increased by 27,000 during the quarter, with all new sets being large horsepower under long-term contracts, reflecting a strong market share gain.
Adjusted EBITDA Growth and Guidance Raise
Adjusted EBITDA reached $20.8 million, up 15% year-over-year, allowing NGS to raise full year 2025 adjusted EBITDA guidance to $78 million to $81 million.
Introduction and Increase of Quarterly Dividend
NGS paid its inaugural quarterly dividend of $0.10 per share and announced a 10% increase for the fourth quarter to $0.11 per share.
Strong Rental Revenue Growth
Total rental revenue grew 11.1% year-over-year and 4.9% sequentially to $41.5 million.
Fleet Utilization and Efficiency Improvements
Fleet utilization reached a record 84.1%, with rental adjusted gross margin percentage improving by 19 basis points year-over-year.
Market Share Gains and Technology Leadership
NGS is taking market share with new technology and service excellence, reflected in the company's growth capital to EBITDA ratio being higher than competitors.