USA Compression Partners, which provides natural gas compression services, announced a significant rise in their fourth quarter profits this past Tuesday. The company saw profits increase to $1.63 million, or $0.02 per share, a marked turnaround from a loss of $3.82 million, or $0.09 per share, during the same quarter the previous year. This increase was largely attributed to a rise in revenue.
Revenue for the quarter was reported at $225.05 million, up from $190.11 million the previous year. In a poll conducted by Thomson-Reuters, the average prediction of analysts was that the company would report earnings of $0.10 per share on a revenue of $220.8 million. However, such estimates often overlook contingency costs.
Looking towards the future, USA Compression Partners projects a full-year profit in the range of $95.0 million to $115.0 million for 2024.
