USA Compression Partners posts 49% rise in Q3 revenue

Oct 31, 2014
Austin Business Journal

USA Compression Partners LP reported Thursday a nearly 49 percent rise in third-quarter revenue

The Austin-based company posted a quarterly profit of $5 million, or 11 cents per share, on revenue of $55.2 million compared with a profit of $1.7 million, or 5 cents per share, on revenue of $37.9 million during the same period last year, according to a filing with the U.S. Securities and Exchange Commission

USA Compression generated earnings on a non-GAAP basis of 13 cents per share, meeting analysts' estimates. The company's shares have declined about 7.4 percent this year

USA Compression, founded in 1998, is a provider of natural gas compression services. It services businesses in 13 states and employs 240 workers

In May, company executives revealed plans to raise $150 million through the sale of 6.6 million common shares to reduce its debt burden, which stood at $555.2 million

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