Archrock (AROC) FY2022 results: revenue $846 million, up 8.2% on the year

Archrock, Inc. (AROC) reported revenue of $846 million for fiscal 2022, the year ended 31 December 2022, up 8.2% on the year before. Net income was $44 million, up 57.0%, and diluted earnings per share $0.28. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.

Revenue

$846 million

+8.2% on the year

FY2015FY2022

Operating margin

n/a

FY2015FY2022

Net income

$44 million

+57.0% on the year

FY2015FY2022

Diluted EPS

$0.28

+55.6% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	846	781	875	+8.2%
Cost of revenue	419	359	377	+16.9%
Gross profit	262	423	498	-38.0%
Gross margin	31.0%	54.1%	56.9%
Selling, general and administrative	117	107	105	+9.3%
Interest expense	101	108	106	-6.4%
Pre-tax income	60.6	39.0	-86.0	+55.5%
Income tax	16.3	10.7	-17.5	+51.6%
Effective tax rate	26.9%	27.6%	n/a
Net income	44.3	28.2	-68.4	+57.0%
Net margin	5.2%	3.6%	-7.8%
Diluted EPS	$0.28	$0.18	-$0.46	+55.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	203	237	335	-14.3%
Capital expenditure	240	97.9	140	+145.0%
Free cash flow	-36.4	140	195
Free cash flow margin	-4.3%	17.9%	22.3%
Cash from investing	-131	16.1	-85.0
Cash from financing	-72.5	-253	-253
Depreciation and amortisation	164	179	193	-8.2%
Share-based compensation	11.9	11.3	10.6	+5.2%
Buybacks	2.4	2.5	1.8	-0.7%
Dividends paid	90.3	89.3	88.8	+1.1%
Dividend per share	$0.58	$0.58	$0.58	0.0%
Diluted shares, weighted	153m	152m	151m	+1.0%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	861	891	936	-3.4%
Debt	1,548	1,531	1,689	+1.1%
Operating lease liabilities	14.9	15.9	16.9	-6.8%
Other liabilities	175	152	138	+15.2%
Total liabilities and equity	2,599	2,590	2,780	+0.3%
Fixed assets	2,199	2,227	2,390	-1.2%
Intangible assets	37.1	47.9	61.5	-22.6%
Cash and equivalents	1.6	1.6	1.1	-0.2%
Receivables	112	105	104	+6.6%
Inventory	84.6	72.9	63.7	+16.1%
Other assets	164	136	159	+20.7%
Total assets	2,599	2,590	2,780	+0.3%

10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.