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Natural Gas Services Group (NGS) Q3 FY2026 earnings: revenue $61 million, up 41.1% on the year

Natural Gas Services Group Inc. (NGS) reported revenue of $61 million for Q3 FY2026, the quarter ended 30 September 2026, up 41.1% on the same quarter a year earlier. Net income was $6 million, down 3.0% on the year, and diluted earnings per share $0.43. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.

Revenue
$61 million
+41.1% on the year · +19.2% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
22.4%
24.8% a year earlier
Q4 FY2024Q3 FY2026
Net income
$6 million
-3.0% on the year · +46.5% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.43
-6.5% on the year · +43.3% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 1 narrowed, 1 kept.

  • Revenue up 41% on Flatrock: Total revenue was $61.3 million, up from $43.4 million a year earlier. Management attributed the increase mainly to a full quarter of Flatrock, contracted fleet expansion and pricing.
  • Adjusted EBITDA up 42%: Adjusted EBITDA was $29.6 million, up 42.2% from a year earlier and 18.2% from the second quarter of 2026. The release attributes the increase to the first full quarter of Flatrock and organic growth.
  • Organic additions of 43,000 horsepower: During the third quarter the company added more than 20,000 horsepower organically. Year-to-date organic additions reached approximately 43,000 horsepower.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Revenue61.351.443.4+19.2%+41.1%
Cost of revenue24.420.617.6+18.5%+38.9%
Gross profit36.930.825.8+19.6%+42.7%
Gross margin60.2%59.9%59.5%
Selling, general and administrative9.49.95.9-5.5%+59.6%
Operating income13.79.910.8+38.5%+27.8%
Operating margin22.4%19.3%24.8%
Interest expense6.14.43.4+36.9%+78.1%
Pre-tax income7.75.57.6+38.4%+1.5%
Income tax2.11.71.8+20.5%+16.2%
Effective tax rate26.9%30.9%23.5%
Net income5.63.85.8+46.5%-3.0%
Net margin9.2%7.5%13.3%
Diluted EPS$0.43$0.30$0.46+43.3%-6.5%
$ million except per share.
Read moreFree 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

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow16.725.416.8-34.1%-0.3%
Capital expenditure25.918.841.9+38.0%-38.1%
Free cash flow-9.26.6-25.1
Free cash flow margin-15.0%12.9%-57.7%
Cash from investing-25.9-127-41.9
Cash from financing9.899.824.7-90.2%-60.4%
Depreciation and amortisation13.811.09.2+25.4%+48.8%
Share-based compensation1.00.90.8+7.5%+34.4%
Dividends paid1.91.91.3+2.2%+54.3%
Dividend per share$0.15$0.15$0.100.0%+50.0%
Diluted shares, weighted13m13m13m+1.6%+2.8%
Shares outstanding at period end13m13m13m+0.1%+2.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ3 FY2026Q2 FY2026Q3 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity299294271+1.6%+10.2%
Debt340328208+3.7%+63.5%
Other liabilities93.895.982.9-2.1%+13.2%
Total liabilities and equity733718562+2.0%+30.4%
Fixed assets11.822.022.5-46.7%-47.8%
Goodwill0.80.8n/a+0.1%
Intangible assets1.11.1n/a-5.0%
Cash and equivalents0.70.10.0+742.9%
Receivables24.622.013.6+11.7%+80.7%
Inventory30.529.121.5+4.9%+42.0%
Other assets664643505+3.2%+31.5%
Total assets733718562+2.0%+30.4%

Questions

What was Natural Gas Services Group's revenue in Q3 FY2026?

Natural Gas Services Group (NGS) reported revenue of $61 million for Q3 FY2026, the quarter ended 30 September 2026, up 41.1% on the same quarter a year earlier.

How much did Natural Gas Services Group earn in Q3 FY2026?

Net income for Q3 FY2026 was $6 million, down 3.0% on the year, and diluted earnings per share $0.43.

When did Natural Gas Services Group report Q3 FY2026 results?

Natural Gas Services Group filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022 †Q4 FY2022 * †Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024 †Q3 FY2024 †Q4 FY2024 * †Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue18.020.319.922.023.826.627.031.436.236.938.540.740.741.441.443.446.148.551.461.3
Cost of revenuen/an/an/an/an/an/an/an/an/a15.817.517.817.717.117.217.619.918.220.624.4
Gross profitn/an/an/an/an/an/an/an/an/a21.121.022.923.024.324.225.826.230.230.836.9
Gross marginn/an/an/an/an/an/an/an/an/a57%55%56%57%59%59%60%57%62%60%60%
SG&A2.82.52.34.14.84.64.92.84.24.75.05.55.85.45.55.95.76.59.99.4
Operating income-8.20.40.7-1.50.90.40.74.94.49.38.59.56.09.59.910.87.113.19.913.7
Operating margin-45%2%3%-7%4%2%3%16%12%25%22%23%15%23%24%25%15%27%19%22%
Interest expense0.00.00.00.00.30.00.21.62.32.92.93.03.03.23.23.43.74.04.46.1
Pre-tax income-7.80.30.3-0.2-0.50.50.83.22.16.65.56.43.16.36.87.65.88.95.57.7
Tax raten/a-3%123%n/an/a29%33%33%20%22%23%22%9%23%24%24%30%24%31%27%
Net income-5.60.3-0.1-0.1-0.80.40.52.21.75.14.25.02.94.95.25.84.16.83.85.6
Net margin-31%2%-0%-0%-3%1%2%7%5%14%11%12%7%12%13%13%9%14%7%9%
Diluted EPS-$0.43$0.03-$0.01-$0.01-$0.06$0.03$0.04$0.18$0.13$0.41$0.34$0.40$0.23$0.38$0.41$0.46$0.32$0.53$0.30$0.43
Operating cash flow8.65.08.35.68.918.24.43.1-7.75.625.525.99.421.311.016.813.923.025.416.7
Capital expenditure6.68.211.016.229.847.845.735.125.410.917.329.114.519.325.841.934.615.218.825.9
Free cash flow1.9-3.2-2.7-10.5-20.9-29.6-41.3-32.0-33.0-5.38.2-3.2-5.12.0-14.8-25.1-20.77.86.6-9.2
Buybacks3.42.93.70.00.00.00.00.00.0n/an/an/an/an/an/an/an/an/an/an/a
Dividends paidn/an/an/an/an/a0.00.00.00.00.00.00.00.00.00.01.31.41.41.91.9
Shares outstanding13m12m12m12m14m13m12m12m14m12m12m12m12m13m13m13m13m13m13m13m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 9 November 2026: the filing.