Archrock Inc

Latest Results (05.04.2026):

Archrock Inc reported results for the third quarter of 2025 (Q3 2025). The company delivered strong top- and bottom-line growth driven by its contract operations segment, with total revenue of $382.4 million, net income of $71.2 million (EPS $0.40), and adjusted EBITDA of $220.9 million for the quarter.

Revenue and earnings

Q3 2025 revenue was $382.4M (up from $292.2M in Q3 2024). Net income was $71.2M ($0.40 per share); adjusted net income was $73.2M ($0.42 per share).

Adjusted EBITDA and margins

Adjusted EBITDA for Q3 2025 was $220.9M (vs. $150.9M in Q3 2024). Contract operations adjusted gross margin rose to $239.6M (73% margin for the segment); total adjusted gross margin was $252.6M (66% of revenue).

Cash flow and dividend coverage

Net cash provided by operating activities in Q3 2025 was $164.5M. Cash available for dividend was $135.7M, giving dividend coverage of 3.7x. Adjusted free cash flow for the quarter was $113.8M and adjusted free cash flow after dividends was $76.9M.

Shareholder returns

Board declared a quarterly dividend of $0.21/share (20% increase year-over-year). Archrock repurchased ~1.09M shares in Q3 for ~$25.4M and returned $159.1M to stockholders through dividends and repurchases through the first three quarters of 2025. The repurchase authorization was increased by $100M (available capacity $130.4M as of Oct. 22, 2025).

Operations and fleet

Total operating horsepower at quarter end was ~4.65 million with utilization at 96% (spot and average). Management reported sequential fleet growth of ~56,000 horsepower (after asset sales) and continued sequential improvement in installed-base pricing.

Balance sheet and liquidity

Long-term debt totaled ~$2.56 billion and available liquidity was $728M at Sept. 30, 2025. Leverage ratio improved to 3.1x (from 3.6x a year earlier).

Guidance and outlook

Archrock raised full-year 2025 Adjusted EBITDA guidance to $835M–$850M. Full-year guidance also projects net income of $265.2M–$280.2M and cash available for dividend of $526M–$531M. Management expects continued demand into 2026 and referenced a potential minimum $250M in growth capex for 2026 across key basins.

Capital expenditures

Updated 2025 capex guidance: growth capex $345M–$355M, maintenance capex $110M–$115M, and other capex $35M–$40M. Q3 net capital expenditures were $124.0M (including acquisition-related activity).