USA Compression Partners LP
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
USAC$25.52+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Operations
(in thousands, except per unit amounts)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Contract operations | $220,518 | $204,716 | $662,265 | $590,237 |
| Parts and service | 5,756 | 7,153 | 17,043 | 15,133 |
| Related party | 13,694 | 5,216 | 25,249 | 15,759 |
| Total revenues | 239,968 | 217,085 | 704,557 | 621,129 |
| Costs and expenses: | ||||
| Cost of operations, exclusive of depreciation and amortization | 81,814 | 74,928 | 235,048 | 211,515 |
| Depreciation and amortization | 67,237 | 64,101 | 195,801 | 183,626 |
| Selling, general, and administrative | 15,364 | 20,085 | 52,364 | 54,136 |
| Loss (gain) on disposition of assets | (123) | (3,865) | 1,113 | (3,932) |
| Impairment of compression equipment | — | 882 | 311 | 12,346 |
| Total costs and expenses | 164,292 | 156,131 | 484,637 | 457,691 |
| Operating income | 75,676 | 60,954 | 219,920 | 163,438 |
| Other income (expense): | ||||
| Interest expense, net | (49,361) | (43,257) | (144,855) | (125,092) |
| Loss on extinguishment of debt | — | — | (4,966) | — |
| Gain (loss) on derivative instrument | (6,218) | 3,437 | 5,684 | 17,987 |
| Other | 23 | 23 | 83 | 104 |
| Total other expense | (55,556) | (39,797) | (144,054) | (107,001) |
| Net income before income tax expense | 20,120 | 21,157 | 75,866 | 56,437 |
| Income tax expense | 793 | 255 | 1,728 | 1,010 |
| Net income | 19,327 | 20,902 | 74,138 | 55,427 |
| Less: distributions on Preferred Units | (4,388) | (12,188) | (13,163) | (36,563) |
| Net income attributable to common unitholders’ interests | $14,939 | $8,714 | $60,975 | $18,864 |
| Weighted-average common units outstanding – basic | 117,017 | 98,292 | 112,151 | 98,270 |
| Weighted-average common units outstanding – diluted | 118,256 | 100,263 | 113,296 | 99,915 |
| Basic and diluted net income per common unit | $0.13 | $0.09 | $0.54 | $0.19 |
| Distributions declared per common unit for respective periods | $0.525 | $0.525 | $1.575 | $1.575 |
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