Why Kodiak Gas Services Shares Are Down Today
Portfolio Pulse from Lekha Gupta
Kodiak Gas Services, Inc. (NYSE:KGS) shares fell after reporting a Q4 EPS loss of $(0.09), missing estimates of $0.29, despite beating revenue expectations with $225.98 million. The company provided FY24 guidance with adjusted EBITDA of $460-$490 million and Discretionary Cash Flow of $295-$310 million. Kodiak also announced the acquisition of CSI Compressco LP (NASDAQ:CCLP) in a deal valued at approximately $854 million.
March 07, 2024 | 5:31 pm
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POSITIVE IMPACT
CSI Compressco LP is being acquired by Kodiak Gas Services in an all-equity transaction valued at approximately $854 million.
The acquisition announcement by Kodiak Gas Services could potentially be positive for CCLP shareholders, as it values the company at approximately $854 million, indicating a significant investment and confidence in CCLP's assets and operations.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Kodiak Gas Services reported a Q4 EPS loss and provided FY24 guidance, leading to a share price drop of 6.08%.
The EPS miss and the issuance of FY24 guidance, despite a revenue beat, have negatively impacted investor sentiment, leading to a significant drop in KGS shares.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100