Kodiak Gas Services Posts Record Q3 2023 Results

**Kodiak Gas Services Reports Strong Q3 2023 Results Amid Robust Natural Gas Demand**

HOUSTON, TX – November 8, 2023 – Kodiak Gas Services, Inc. (NYSE: KGS) announced a robust financial performance for the third quarter of 2023, showcasing significant gains driven by sustained high demand for its natural gas contract compression services. The Houston-based company released its financial results today, detailing impressive growth across key metrics.

For the three months ending September 30, 2023, Kodiak reported revenues of $102.5 million, marking a substantial increase compared to previous periods. The company posted a net income of $17.6 million, translating to diluted earnings per share (EPS) of $0.46. Additionally, Adjusted EBITDA, a key measure of operational profitability, reached $73.3 million, supported by a strong gross margin of 65%.

Operationally, Kodiak maintained an impressive fleet utilization rate of 96% during the quarter, underscoring the efficiency and high demand for its services. Contract compression revenue, which forms the core of its business, accounted for $100.8 million of the total revenue. Looking ahead, the company boasts remaining performance obligations totaling $3.8 billion as of the end of September, indicating a healthy backlog and future revenue visibility.

Mickey McKee, Kodiak’s Founder, Chairman, and CEO, commented on these “outstanding third quarter results,” highlighting “record financial and operating metrics.” He emphasized the “robust demand” for their compression services and a “strong backlog,” indicating expectations for continued demand driven by the critical need for energy infrastructure.

Kodiak Gas Services specializes in providing essential natural gas contract compression services, primarily supporting midstream infrastructure throughout major U.S. natural gas production basins. These services are vital for moving natural gas efficiently from wellheads to processing plants and transmission pipelines, as compression is necessary to maintain pressure and flow rates across vast pipeline networks. The strong demand for Kodiak’s services reflects the broader health of the U.S. natural gas market, buoyed by increased production, growing domestic consumption, and expanding liquefied natural gas (LNG) export capacity. Key basins such as the Permian, Haynesville, and Eagle Ford continue to drive the need for reliable compression solutions.

For the full year 2023, Kodiak Gas Services reaffirmed its guidance, anticipating total revenues to fall between $398 million and $408 million. Adjusted EBITDA is projected to be in the range of $285 million to $295 million. Capital expenditures for the year are expected to be between $350 million and $360 million, signaling continued investment in fleet expansion and infrastructure to meet ongoing demand.

Investors and interested parties can find the full earnings release and related materials on the Kodiak Gas Services investor relations website at https://ir.kodiakgas.com/news-releases/news-release-details/kodiak-gas-services-inc-announces-third-quarter-2023-results. Additional information about the company’s operations can be found at https://kodiakgas.com/.

### About Kodiak Gas Services, Inc.
Kodiak Gas Services, Inc. is a leading provider of natural gas contract compression services in the U.S. oil and gas industry. The company offers a full line of high-horsepower compression units, primarily operating in the most active natural gas producing regions of the United States. Kodiak’s mission is to provide safe, reliable, and cost-effective compression solutions that help its customers efficiently gather, process, and transport natural gas.