Kodiak Gas Services reported 22% year-over-year adjusted EBITDA growth and higher pricing in its compression business.
Kodiak Gas Services posted record second-quarter adjusted EBITDA of $217 million, a 22% increase from the prior year, and raised portions of its 2026 outlook. Revenue rose 21% year over year to $391 million, driven by the acquisition of DPS and growth in its Compression Infrastructure segment.
The company’s Compression Infrastructure segment ended the quarter with 4.4 million revenue-generating horsepower, up 24,000 sequentially, and fleet utilization at 98.2%. Revenue per horsepower increased 4.5% year over year to $23.80, while adjusted gross margin expanded 170 basis points to 70%.
Management attributed the results to higher pricing, improved margins, and a focus on larger, long-term power infrastructure projects. Adjusted net income reached $54 million, or $0.55 per diluted share.