USA Compression Partners LP
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +2.54%.
Did USAC Beat Earnings? Q2 2025 Results
USA Compression Partners posted a mixed second quarter for 2025, beating on revenue while falling short on earnings per unit. The partnership reported revenue of $250.13 million, up 6.3% year-over-year and modestly ahead of the $246.99 million consensus estimate, yet its $0.22 EPS missed the $0.24 analyst forecast by 7.06%. The shortfall on the bottom line came despite record top-line results, as higher depreciation and amortization expenses of $70.84 million, a $3.24 million asset impairment charge, and the absence of a $3.13 million derivative gain that benefited the year-ago quarter all weighed on GAAP net income. Adjusted EBITDA climbed to $149.48 million, supported by record average revenue per horsepower of $21.31 per month, reflecting continued pricing strength across oil and gas producing basins. Looking ahead, management reaffirmed full-year 2025 guidance calling for Adjusted EBITDA of $590 million to $610 million and Distributable Cash Flow of $350 million to $370 million, with 39,800 large horsepower units on order for delivery within the next 12 months.
- Record average revenue per revenue-generating horsepower per month of $21.31, up 5% year-over-year
- Strong demand for compression services across both oil and gas producing basins
- Average revenue-generating horsepower increased to 3.55 million from 3.52 million year-over-year
- Average horsepower utilization of 94.4%
“USA Compression's second-quarter financial and operational results reflected another record-setting quarter for revenues and average revenue per-horsepower of $21.31, up 5% from a year ago. We continue to see strong demand for our services across both oil and gas producing basins which drove year-over-year increases in revenues, Adjusted EBITDA, and Distributable Cash Flow.”
USA Compression Partners CEO, on the earnings call
Forward Guidance & Outlook
USA Compression confirmed its full-year 2025 guidance: Adjusted EBITDA of $590 million to $610 million, Distributable Cash Flow of $350 million to $370 million, expansion capital expenditures of $120 million to $140 million (including $21 million of non-compression capital), and maintenance capital expenditures of $38 million to $42 million. The Partnership has 39,800 large horsepower on order for delivery within the next 12 months.
USAC YoY Financials
USAC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.