Kodiak Gas Services Doubles Revenue, Posts Q3 Profit

**Kodiak Gas Services Reports Monumental Q3 Turnaround, Exceeding Expectations**

**MONTGOMERY, Texas** – Kodiak Gas Services, Inc. (NYSE: KGS), the Montgomery-based natural gas compression powerhouse, has announced a dramatic financial turnaround for its third quarter, which concluded on September 30. The company reported a profit of $27.5 million, or 36 cents per share, a significant reversal from the $3.5 million loss, or 10 cents per share, recorded during the same period last year.

This impressive shift was mirrored in Kodiak’s revenue, which more than doubled to $109.9 million for the quarter, an increase of 103.1% from $54.1 million reported in the third quarter of 2022. Both profit and revenue figures comfortably surpassed financial analysts’ projections, which, according to a survey by Zacks Investment Research, anticipated a profit of 29 cents per share on revenue of $109.4 million.

“Our strong third-quarter results underscore the robust demand for our essential contract compression services and the operational excellence of our teams,” stated Dorian John Murray, President and CEO of Kodiak Gas Services, in a statement to investors following the earnings release. “We continue to capitalize on the increasing need for efficient and reliable infrastructure within the U.S. onshore natural gas and oil markets, reinforcing our position as the industry leader.”

Kodiak provides critical natural gas compression services predominantly to the U.S. onshore natural gas and oil production and midstream markets. These services are vital for moving natural gas from the wellhead through pipelines to processing plants and end-users, ensuring pressure is maintained for efficient transport. The company holds its position as the largest contract compression company in the nation by horsepower. As of the close of Q3, its extensive operations involved managing over 3.2 million horsepower distributed across more than 1,000 compression units.

Looking ahead, the company maintains an optimistic outlook for its full-year performance in 2023, forecasting revenue to land between $435 million and $445 million. This guidance reflects continued confidence in the demand for their services and the company’s strategic positioning within the energy sector.

Investors and interested parties can find more detailed financial information and future announcements on the company’s investor relations website at ir.kodiakgas.com. Shares of Kodiak Gas Services, Inc. are traded on the New York Stock Exchange under the ticker symbol KGS.