Filing Flows › Kodiak Gas Services (KGS) › Q2 2026
Kodiak Gas Services (KGS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Kodiak Gas Services (KGS) reported revenue of $391M for the second quarter 2026 (Q2 2026), +21% from a year earlier and +13% from the quarter before. Operating margin was 31.8%, net earnings $52.0M (13.3% of revenue).
Kodiak Gas Services, Q2 2026: revenue $391M (+21% year over year), operating margin 31.8%, net earnings $52.0M, operating cash flow $99.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $391M | +13% | +21% |
| Operating profit | $124M | +16% | +25% |
| Net earnings | $52.0M | +192% | +32% |
| Operating cash flow | $99.5M | +40% | -44% |
What changed
Revenue was $391.1M in Q2 2026, up 21% year over year and up 13% from the previous quarter. Compression Infrastructure was the largest line at 81% of revenue. Compression Infrastructure added $21.6M year over year (up 7%), 32% of the total change.
Operating profit was $124.2M, a 31.8% margin (up 0.9 points year over year). Of the extra revenue versus Q2 2025, 36% reached operating profit, above the 31% margin then. Total costs grew 20% against revenue growth of 21%. The fastest-growing cost line was Cost of revenue (+25%). Net earnings were $52.0M, up 32% year over year. The effective tax rate was 28.8%.
Operating cash flow was $99.5M (down 44% year over year), 191% of net earnings. Non-cash charges added back $78.7M of depreciation and amortization and $8.6M of share-based compensation. Working capital and other items used $40.0M. Capital expenditures of $200.2M exceeded it, leaving free cash flow of −$100.7M.
Questions
What was Kodiak Gas Services' revenue in the second quarter 2026?
Kodiak Gas Services (KGS) reported revenue of $391M for the second quarter 2026 (Q2 2026), +21% from a year earlier and +13% from the quarter before.
Was Kodiak Gas Services profitable in the second quarter 2026?
Operating profit was $124M (31.8% of revenue) and net earnings $52.0M.