Natural Gas Services' deal costs fall to $0.8 million in the first full quarter with Flatrock

Natural Gas Services Group's third-quarter 2026 earnings release, dated November 9, reports total revenue of $61.3 million, up from $51.4 million in the second quarter. Rental revenue was $58.9 million, up from $49.4 million, and adjusted EBITDA was $29.6 million, up from $25.1 million. The company says the quarter included the first full quarter of financial contribution from Flatrock, which it acquired in June.

The company's second-quarter release gives the closing date as June 12, 2026, with 87,233 rented horsepower added as of June 30. It does not state a total purchase price. It shows $108.7 million of cash paid, net of cash acquired, plus common stock worth about $10.0 million issued in connection with the acquisition. Long-term debt rose from $230.0 million at the end of 2025 to $328.0 million at June 30, 2026, though the release does not tie that rise to the deal.

Costs tied to the deal fell. Integration and strategic transaction costs were $0.8 million in the third quarter, compared with $3.3 million in the second. The company raised the low end of its 2026 adjusted EBITDA guidance to a range of $105 million to $108 million, from $103 million to $108 million. At September 30 its fleet was 779,093 horsepower, with 87.8% utilized. Apart from Flatrock, it added more than 20,000 horsepower in the quarter and about 43,000 so far this year.