Filing Flows › Kodiak Gas Services (KGS) › Q1 2025
Kodiak Gas Services (KGS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Kodiak Gas Services (KGS) reported revenue of $330M for the first quarter 2025 (Q1 2025), +53% from a year earlier and +7% from the quarter before. Operating margin was 27.1%, net earnings $30.4M (9.2% of revenue).
Kodiak Gas Services, Q1 2025: revenue $330M (+53% year over year), operating margin 27.1%, net earnings $30.4M, operating cash flow $114M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $330M | +7% | +53% |
| Operating profit | $89.2M | +29% | +48% |
| Net earnings | $30.4M | +59% | +0.6% |
| Operating cash flow | $114M | -4% | +122% |
| Free cash flow | $36.8M | -19% | — |
What changed
Revenue was $329.6M in Q1 2025, up 53% year over year and up 7% from the previous quarter. Contract Services was the largest line at 88% of revenue. Contract Services added $95.6M year over year (up 49%), 84% of the total change.
Operating profit was $89.2M, a 27.1% margin (down 0.9 points year over year). Of the extra revenue versus a year earlier, 25% reached operating profit, below the 28% margin then. Net earnings were $30.4M, up 1% year over year. The effective tax rate was 25.3%.
Operating cash flow was $114.3M (up 122% year over year), 368% of net income including minority interests. Non-cash charges added back $70.5M of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items added $5.8M. Capital expenditures of $77.6M left free cash flow of $36.8M.
Questions
What was Kodiak Gas Services' revenue in the first quarter 2025?
Kodiak Gas Services (KGS) reported revenue of $330M for the first quarter 2025 (Q1 2025), +53% from a year earlier and +7% from the quarter before.
Was Kodiak Gas Services profitable in the first quarter 2025?
Operating profit was $89.2M (27.1% of revenue) and net earnings $30.4M.