USA Compression Partners (USAC) Reports Q2 Revenues Above Consensus; Offers FY18 Outlook

USA Compression Partners (NYSE: USAC) reported Q2 EPS of ($0.64), versus ($0.06) reported last year. Revenue for the quarter came in at $166.9 million versus the consensus estimate of $103.53 million.

• Total revenues were $166.9 million.
• Net income was $3.2 million.
• Net cash provided by operating activities was $75.5 million.
• Adjusted EBITDA was $95.4 million.
• Distributable Cash Flow was $51.4 million.
• Announced cash distribution of $0.525 per common unit.
• Distributable Cash Flow Coverage was 1.09x.
• Cash Coverage was 1.09x.

GUIDANCE:

Full-Year 2018 Outlook

USA Compression is providing the following full-year 2018 guidance to incorporate the expected results following the closing of the Transactions on April 2, 2018 and the use of the USA Compression Predecessor’s results of operations for all periods prior to the closing of the Transactions:

• Net income range of $10.0 million to $30.0 million;
• A forward-looking estimate of net cash provided by operating activities is not provided because the items necessary to estimate net cash provided by operating activities, in particular the change in operating assets and liabilities, are not accessible or estimable at this time. The Partnership does not anticipate the changes in operating assets and liabilities to be material, but changes in accounts receivable, accounts payable, accrued liabilities and deferred revenue could be significant, such that the amount of net cash provided by operating activities would vary substantially from the amount of projected Adjusted EBITDA and Distributable Cash Flow;
• Adjusted EBITDA range of $310.0 million to $330.0 million; and
• Distributable Cash Flow range of $170.0 million to $190.0 million.

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

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