10-K · February 17, 2026
USA Compression presents a stable, contract-backed compression-services business with 3.9 million horsepower in its fleet as of December 31, 2025 and a strategy focused on modern, flexible units, long-term fixed-fee…
Earnings analysis · 10-Q
USAC earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
USA Compression Partners LP reported Q1 2026 results with revenues of $331.3 million, significantly higher than the $303.8 million consensus estimate, and an EPS of $0.27, below the expected $0.34. The increase in…
Read full summary
USA Compression Partners LP reported Q1 2026 results with revenues of $331.3 million, significantly higher than the $303.8 million consensus estimate, and an EPS of $0.27, below the expected $0.34. The increase in revenue was attributed to the J-W Power Acquisition, which contributed roughly $60.3 million. Despite the revenue surprise, the EPS miss indicates potential operational challenges ahead.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.27
What stood out
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Revenue Growth of 35.1% YoY
Total revenues rose to $331.3 million from $245.2 million year-over-year, a 35.1% increase.
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Contract Operations Revenue Up 30.5%
Contract operations revenue increased to $293.5 million, up from $225.0 million, driven primarily by the J-W Power Acquisition.
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Net Income Doubles Year-over-Year
Net income reached $38.3 million, nearly doubling from $20.5 million in Q1 2025.
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Improved Distributable Cash Flow
Distributable cash flow rose to $130.8 million, compared to $88.7 million in the prior year.
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Adjusted EBITDA Increased by 26.1%
Adjusted EBITDA for Q1 2026 was $188.6 million, up from $149.5 million in Q1 2025, reflecting strong operational performance.
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Higher Horsepower Utilization Despite Acquisition Challenges
Fleet horsepower increased by 27.7% to 4.9 million, reflecting expansion efforts despite lower utilization rates.
What to watch
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EPS Miss Indicates Cost Pressures
EPS for Q1 2026 was $0.27, missing the estimate of $0.34, suggesting potential operational inefficiencies.
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Integration Costs from Recent Acquisition
Integration expenses from the J-W Power Acquisition may strain profitability, increasing SG&A costs by 87.5% year-over-year.
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Rising Interest Expense
Interest expense rose to $48.97 million from $47.37 million, reflecting the higher debt load following acquisitions.
Management's outlook
Full-year 2026 Adjusted EBITDA guidance remains unchanged at $770 million to $800 million.
Earlier filings 4
10-Q · August 6, 2025
USA Compression reported quarterly revenue of $250,125,000 (up $14,812,000 or ~6.3% YoY vs $235,313,000) with operating income of $76,608,000 (operating margin 30.6%). Gross margin compressed modestly to 65.4% and…
10-Q · May 6, 2025
USA Compression reported quarterly revenue of $245,234,000 for the three months ended March 31, 2025, up $15,958,000 versus $229,276,000 a year ago, with operating income rising to $69,391,000. Net income and EPS…
10-Q · August 6, 2024
USA Compression reported quarter revenue of $235.313 million, up from $206.920 million in Q2 2023, with operating income rising to $77.372 million and diluted EPS of $0.23. Operating cash flow remains healthy (six…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.