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USA Compression Partners

USAC Q1 2026 Earnings

Reported May 5, 2026 at 7:02 AM ET · SEC Source

Q1 26 EPS

$0.27

MISS 24.03%

Est. $0.36

Q1 26 Revenue

$331.3M

BEAT +8.02%

Est. $306.7M

vs S&P Since Q1 26

-12.7%

TRAILING MARKET

USAC -11.4% vs S&P +1.3%

Market Reaction

Did USAC Beat Earnings? Q1 2026 Results

USA Compression Partners delivered a mixed first quarter for 2026, posting revenue of $331.27 million, well ahead of the $306.69 million consensus and up 35.1% year over year, while earnings per unit of $0.27 fell short of the $0.36 estimate by 24.03… Read more USA Compression Partners delivered a mixed first quarter for 2026, posting revenue of $331.27 million, well ahead of the $306.69 million consensus and up 35.1% year over year, while earnings per unit of $0.27 fell short of the $0.36 estimate by 24.03%. The headline story was the January 12 closing of the J-W Power Acquisition, which added over 0.8 million active horsepower and pushed the combined fleet to roughly 4.4 million active horsepower, directly fueling the revenue surge but also lifting cost of operations to $117.90 million and SG&A to $35.36 million, weighing on per-unit earnings. Net income nearly doubled to $38.34 million, Adjusted EBITDA climbed to $188.59 million, and distributable cash flow coverage strengthened to 1.72x. Management reaffirmed full-year 2026 guidance of $770 million to $800 million in Adjusted EBITDA and $480 million to $510 million in Distributable Cash Flow, signaling confidence that integration gains will build through the remainder of the year.

Key Takeaways

  • • J-W Power Acquisition added over 0.8 million active horsepower, creating combined fleet of approximately 4.4 million active horsepower
  • • Average revenue per revenue-generating horsepower per month increased to $22.73 from $21.06 year-over-year
  • • Average revenue-generating horsepower grew to 4.44 million from 3.56 million year-over-year
  • • Distributable Cash Flow Coverage Ratio improved to 1.72x from 1.44x year-over-year
  • • Adjusted EBITDA margin of 56.9% for Q1 2026

USAC Forward Guidance & Outlook

USA Compression confirmed its full-year 2026 guidance: Adjusted EBITDA of $770 million to $800 million, Distributable Cash Flow of $480 million to $510 million, expansion capital expenditures of $230 million to $250 million (including $38 million of non-compression related capital), and maintenance capital expenditures of $60 million to $70 million. Management expressed confidence in building on first-quarter momentum throughout 2026, citing visibility into improved earnings from the combined J-W Power assets and steady demand conditions.

24/7 Wall St

USAC YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

USAC Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“First-quarter results reflect steady demand and strong operational execution. Since closing the highly accretive J-W Power Acquisition on January 12, our first quarter results reflect improvement in metrics for leverage, cash flow and distribution coverage. Looking ahead, we are encouraged by the J-W cultural alignment across the organization and have visibility into improved earnings of the combined assets. Additionally, as new engine procurement lead times have recently moved out beyond two years, the acquisition of a high-quality fleet and customer base is certainly well-timed. Looking ahead, we remain focused on executing consistently, generating reliable cash flows that support our distribution, and building on first quarter momentum throughout 2026.”

— Clint Green, Q1 2026 Earnings Press Release

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