Filing Flows › Kodiak Gas Services (KGS) › Q3 2026
Kodiak Gas Services (KGS) Q3 2026 earnings results (third quarter 2026)
8-K filed Nov 9, 2026
Kodiak Gas Services (KGS) reported revenue of $402M for the third quarter 2026 (Q3 2026), +24% from a year earlier and +3% from the quarter before. Operating margin was 34.5%, net earnings $71.5M (17.8% of revenue).
Kodiak Gas Services, Q3 2026: revenue $402M (+24% year over year), operating margin 34.5%, net earnings $71.5M, operating cash flow $196M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $402M | +3% | +24% |
| Operating profit | $138M | +11% | +116% |
| Net earnings | $71.5M | +37% | — |
| Operating cash flow | $196M | +97% | +73% |
What changed
Revenue was $401.8M in Q3 2026, up 24% year over year and up 3% from the previous quarter. Compression Infrastructure revenue was the largest line at 79% of revenue. Compression Infrastructure revenue added $21.5M year over year (up 7%), 27% of the total change.
Operating profit was $138.5M, a 34.5% margin (up 14.6 points year over year). Of the extra revenue versus Q3 2025, 94% reached operating profit, above the 20% margin then. Total costs grew 2% against revenue growth of 24%. The fastest-growing cost line was Other operating costs (+111%). Net earnings were $71.5M. The effective tax rate was 20.9%.
Operating cash flow was $196.3M (up 73% year over year), 274% of net earnings. Non-cash charges added back $75.6M of depreciation and amortization. Working capital and other items added $49.2M. Capital expenditures of $225.7M exceeded it, leaving free cash flow of −$29.4M.
Questions
What was Kodiak Gas Services' revenue in the third quarter 2026?
Kodiak Gas Services (KGS) reported revenue of $402M for the third quarter 2026 (Q3 2026), +24% from a year earlier and +3% from the quarter before.
Was Kodiak Gas Services profitable in the third quarter 2026?
Operating profit was $138M (34.5% of revenue) and net earnings $71.5M.
Source: Kodiak Gas Services 8-K on SEC EDGAR.