Announces 2023 Third Quarter Earnings
Release and Conference Call Schedule
MONTGOMERY, Texas, Oct. 24,
2023 /PRNewswire/ -- Kodiak Gas Services, Inc.
(NYSE: KGS), ("Kodiak" or the "Company"), a leading provider of
critical energy infrastructure and contract compression services,
today announced that its board of directors has declared Kodiak's
first quarterly cash dividend of $0.38 per share of common stock, or $1.52 per share of common stock on an annualized
basis, for the third quarter of 2023. This cash dividend will be
paid on November 10, 2023 to all
stockholders of record as of the close of business on November 3, 2023.
Mickey McKee, Kodiak's founder
and Chief Executive Officer, stated, "Consistent with our capital
allocation strategy, we are excited to announce our first quarterly
dividend. We believe the stable, positive cash flow provided by our
resilient business model supports an attractive return of capital
to shareholders via a well-covered dividend while maintaining
conservative balance sheet leverage and providing flexibility to
capitalize on the high-return growth opportunities we see in the
market. The dividend we announced, when annualized, represents one
of the most compelling yields in midstream today, and the highest
among our compression peers."
Kodiak also announced that it will release third quarter 2023
financial results on Wednesday, November 8,
2023 after the market closes. In conjunction with the
release, the Company has scheduled a conference call, which will
also be broadcast live over the Internet, on Thursday, November 9, 2023 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time).
What:
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Kodiak Gas Services
Third Quarter 2023 Earnings Conference Call
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When:
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Thursday, November 9,
2023 at 11:00 a.m. Eastern / 10:00 a.m. Central
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How:
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Live via phone – By
dialing 201-389-0872 and asking for the Kodiak Gas Services call at
least 10 minutes prior to the start time, or Live over the Internet
– By logging onto the web at the address below
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Where:
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https://ir.kodiakgas.com/news-events/ir-calendar
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For those who cannot listen to the live call, a replay will be
available through November 16, 2023
and may be accessed by dialing 201-612-7415 and using pass code
13738946#. Also, an archive of the webcast will be available
shortly after the call at
https://ir.kodiakgas.com/news-events/ir-calendar for 90 days.
About Kodiak Gas Services, Inc.
Kodiak Gas Services, Inc. is one of the largest contract
compression services providers in the continental United States with a revenue-generating fleet
of over 3.2 million horsepower. The company focuses on
providing contract compression services to oil and gas producers
and midstream customers in high–volume gas gathering systems,
processing facilities, multi–well gas lift applications and natural
gas transmission systems. More information is available at
www.kodiakgas.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Forward-looking
statements can be identified by words such as: "anticipate,"
"intend," "plan," "goal," "seek," "believe," "project," "estimate,"
"expect," "strategy," "future," "likely," "may," "should," "will"
and similar references to future periods. Forward-looking
statements contained herein include the amount and timing of future
dividend payments. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. A list and description of risks,
uncertainties and other factors can be found in the "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" sections of our final prospectus filed
with the U.S. Securities and Exchange Commission (the "SEC") on
June 30, 2023 pursuant to Rule
424(b)(4) and in Part I, Item 2. "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and Part
II, Item 1A. "Risk Factors" sections of our Quarterly Report on
Form 10-Q for the quarterly period ended June 30, 2023 and filed with the SEC on
August 10, 2023. Any forward-looking
statement made by us in this news release is based only on
information currently available to us and speaks only as of the
date on which it is made. Except as may be required by applicable
law, we undertake no obligation to publicly update any
forward-looking statement whether as a result of new information,
future developments or otherwise.
Contacts:
Kodiak Gas Services, Inc.
Graham Sones, VP of Investor
Relations
ir@kodiakgas.com
(936) 755-3259
Dennard Lascar Investor
Relations
Ken Dennard / Rick Black
KGS@dennardlascar.com
713-529-6600
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SOURCE Kodiak Gas Services, Inc.