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Natural Gas Services Group ( (NGS) ) has provided an announcement.
Natural Gas Services Group reports strong growth in its third quarter, with a 35% increase in rental revenue year-over-year and a 61.3% adjusted rental gross margin. The company is leveraging supply constraints and strong customer demand to drive expansion, focusing on optimizing fleet utilization and investing in high-horsepower compression units. Despite weaker natural gas prices, the firm remains optimistic about growth prospects, increasing its 2024 EBITDA outlook and planning significant capital expenditures to support new contracts.
For a thorough assessment of NGS stock, go to TipRanks’ Stock Analysis page.
