USA Compression Partners (NYSE: USAC) reported Q3 EPS of ($0.10), $0.07 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $168.9 million versus the consensus estimate of $171.82 million.

• Total revenues were $168.9 million.
• Net loss was $0.6 million.
• Net cash provided by operating activities was $38.8 million.
• Adjusted EBITDA was $90.1 million.
• Distributable Cash Flow was $47.5 million.
• Announced cash distribution of $0.525 per common unit.
• Distributable Cash Flow Coverage was 1.01x.
• Cash Coverage was 1.01x.

“The third quarter saw continued progress on integrating the CDM assets and people into USA Compression. I am pleased with what we have accomplished in the first six months following the acquisition and, while there is still work to be done, we are ahead of where we expected to be at this point in the year. Our progress this quarter was made against a market backdrop of continued strong demand for our compression services, as evidenced by the top-line revenue growth during the quarter. We experienced both active horsepower growth during the quarter as well as increased pricing across the fleet, illustrating the continued attractive market dynamics we are experiencing. Utilization for the quarter averaged 92.8%, an increase of approximately 10% over the utilization averaged by our accounting predecessor for the same period last year,” commented Eric D. Long, USA Compression’s President and Chief Executive Officer.

“During the quarter, we took delivery of 60,000 horsepower, almost all of which consisted of 2,500 horsepower CAT 3608 units. With lead times still elevated, all of these units were contracted with customers prior to delivery. We expect to take delivery of approximately 38,000 additional horsepower in the fourth quarter of 2018 and have over 120,000 horsepower scheduled for delivery in 2019, almost all of which has already been committed to customers,” he added.

“With the continued strength in the marketplace for our large horsepower services, we expect to continue to drive not only revenue growth but also margin expansion over time, while maintaining a healthy balance sheet and building coverage.”

For earnings history and earnings-related data on USA Compression Partners (USAC) click here.