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USA Compression Partners, LP (USAC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · USA Compression Partners, LP (USAC) Q3 2026 earnings results →
Q3 2026 Revenue up 43% year over year to $357M · 13¢ of every $1 of revenue kept as net profit · operating margin 28.6%
USA Compression Partners, LP made $357M in Q3 2026 (+43% Y/Y): Contract operations revenue $326M, Retail parts and services revenue $31.3M. Operating margin 28.6%, net earnings $47.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $357.2M in Q3 2026, up 43% year over year and up 4% from the previous quarter. Contract operations revenue was the largest line at 91% of revenue. Contract operations revenue added $83.1M year over year (up 34%), 78% of the total change.
Operating profit was $102.2M, a 28.6% margin (down 4.9 points year over year). Of the extra revenue versus Q3 2025, 17% reached operating profit, below the 34% margin then. Total costs grew 53% against revenue growth of 43%. The fastest-growing cost line was SG&A (+85%). Net earnings were $47.3M, up 37% year over year. The effective tax rate was 10.7%.
Operating cash flow was $117.7M (up 55% year over year), 249% of net earnings. Non-cash charges added back $89.1M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $20.2M. Capital expenditures of $103.5M left free cash flow of $14.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $357M | +43% | 28.6% | $47.3M | $118M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $342M | +37% | 29.3% | $45.7M | $146M |
| Q1 2026 | 10-Q | May 7, 2026 | $331M | +35% | 27.6% | $38.3M | $86.1M |
| Q4 2025 | 10-K | Feb 17, 2026 | $252M | +3% | 30.3% | $27.8M | $139M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $250M | +4% | 33.5% | $34.5M | $75.9M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $250M | +6% | 30.6% | $28.6M | $124M |
| Q1 2025 | 10-Q | May 6, 2025 | $245M | +7% | 28.3% | $20.5M | $54.7M |
Charts
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
- CMI · Stated in 10-K (named, share not stated) · source
- CAT · Stated in 10-K (named, share not stated) · source
- ET · Stated in 10-K (named, share not stated) · source
About USA Compression Partners, LP
USA Compression Partners, LP (the “Partnership”) is a growth-oriented Delaware limited partnership. We are managed by our general partner, USA Compression GP, LLC (the “General Partner”), which is wholly owned by Energy Transfer. All references in this section to the Partnership, as well as the terms “our,” “we,” “us,” and “its” refer to USA Compression Partners, LP, together with its consolidated subsidiaries, unless the context otherwise requires or where otherwise indicated.
In its own words, from its 10-K, filed Feb 17, 2026.
USA Compression Partners, LP against its Natural Gas Transmission peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +43% against the peers' median +35%. Operating margin: 28.6% against the peers' median 25.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| USAC USA Compression Partners, LP | Q3 2026 | $357M | +43% | 28.6% |
| ET Energy Transfer LP | Q3 2026 | $37.1B | +86% | 7.5% |
| EPD Enterprise Products Partners L.P. | Q3 2026 | $17.9B | +49% | 11.1% |
| TRGP Targa Resources | Q3 2026 | $5.6B | +35% | 19.6% |
| KMI Kinder Morgan | Q3 2026 | $4.5B | +9% | 25.6% |
| Northwest Pipeline LLC | Q3 2026 | $3.2B | +10% | 35.2% |
| Western Midstream Operating, LP | Q2 2026 | $1.2B | +30% | 43.0% |
| WES Western Midstream Partners, LP | Q3 2026 | $1.2B | +25% | 38.6% |
| NGL NGL Energy Partners LP | Q2 FY27 | $987M | +46% | 2.4% |
Source: USA Compression Partners, LP 10-Q on SEC EDGAR · CIK 1522727 · Natural Gas Transmission
Guidance and outlook
13F: who owns USAC and who is buying
More on USAC
- How USA Compression Partners, LP makes money: revenue by segment
- USA Compression Partners, LP next earnings date and what analysts expect
- USA Compression Partners, LP stock forecast, price target and fair value
- Who owns USA Compression Partners, LP stock: holders, funds and Congress trades
- USA Compression Partners, LP guidance and outlook
- Is USA Compression Partners, LP a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- USA Compression Partners, LP guidance history: guided vs reported
- USA Compression Partners, LP operating margin by quarter
- USA Compression Partners, LP net income by quarter
- USA Compression Partners, LP free cash flow by quarter
- USA Compression Partners, LP capital expenditures by quarter
- USA Compression Partners, LP Contract operations revenue revenue by quarter
- USA Compression Partners, LP Retail parts and services revenue revenue by quarter
Compare USAC with
- USA Compression Partners, LP vs Kinetik Holdings (USAC vs KNTK)
- USA Compression Partners, LP vs Kodiak Gas Services (USAC vs KGS)
- USA Compression Partners, LP vs Archrock (USAC vs AROC)
- USA Compression Partners, LP vs DT Midstream (USAC vs DTM)
- USA Compression Partners, LP vs Antero Midstream (USAC vs AM)
- USA Compression Partners, LP vs Summit Midstream (USAC vs SMC)