USA Compression Partners, LP (USAC - Free Report) reported fourth-quarter 2020 net loss per common unit of 14 cents, wider than the Zacks Consensus Estimate of a loss of 12 cents and the year-ago loss of a penny. The unfavorable comparisons were due to lower utilization.
Revenues of $158.4 million were 11.1% below the year-ago quarter and missed the Zacks Consensus Estimate of $159 million due to lower-than-expected revenue-generating horsepower capacity, which, at 3,004,069 horsepower, fell short of the Zacks Consensus Estimate of 3,009,000 horsepower.
Adjusted EBITDA was down 10% to $98.3 million. Moreover, the partnership’s distributable cash flow fell from $58 million in the prior-year quarter to $50.5 million.
The partnership reported operating cash flow of $97.5 million in the quarter. This marked an increase from $91.7 million that it had generated in the prior-year quarter. Also, gross operating margin, at 68.4%, marked an improvement over the year-ago period’s 68.2%.
In the fourth quarter, the partnership’s revenue-generating horsepower capacity decreased 9.2% from last year’s corresponding period to 3,004,069 horsepower. Further, the average monthly revenue per horsepower fell to $16.55 from $16.82 in the fourth quarter of 2019. Meanwhile, USA Compression Partners’ average quarterly horsepower utilization rate came in at 83%, down from 93.9% in the year-ago period.
Guidance
For 2021, USA Compression Partners projects full-year DCF between $193 million and $213 million. Meanwhile, it sees adjusted EBITDA of $385-$405 million.
Zacks Rank & Stock Picks
USA Compression Partners currently carries a Zacks Rank #4 (Sell).
Some better-ranked players in the energy space are PDC Energy , Royal Dutch Shell and Pioneer Natural Resources Company (PXD - Free Report) . Each of the companies sports a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
PDC Energy has an expected earnings growth rate of 165.91% for the current year.
Royal Dutch Shell has an expected earnings growth rate of 163.71% for the current year.
Pioneer Natural Resources has an expected earnings growth rate of 323.95% for the current year.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
USA Compression Partners, LP (USAC - Free Report) reported fourth-quarter 2020 net loss per common unit of 14 cents, wider than the Zacks Consensus Estimate of a loss of 12 cents and the year-ago loss of a penny. The unfavorable comparisons were due to lower utilization.
Revenues of $158.4 million were 11.1% below the year-ago quarter and missed the Zacks Consensus Estimate of $159 million due to lower-than-expected revenue-generating horsepower capacity, which, at 3,004,069 horsepower, fell short of the Zacks Consensus Estimate of 3,009,000 horsepower.
Adjusted EBITDA was down 10% to $98.3 million. Moreover, the partnership’s distributable cash flow fell from $58 million in the prior-year quarter to $50.5 million.
The partnership reported operating cash flow of $97.5 million in the quarter. This marked an increase from $91.7 million that it had generated in the prior-year quarter. Also, gross operating margin, at 68.4%, marked an improvement over the year-ago period’s 68.2%.
In the fourth quarter, the partnership’s revenue-generating horsepower capacity decreased 9.2% from last year’s corresponding period to 3,004,069 horsepower. Further, the average monthly revenue per horsepower fell to $16.55 from $16.82 in the fourth quarter of 2019. Meanwhile, USA Compression Partners’ average quarterly horsepower utilization rate came in at 83%, down from 93.9% in the year-ago period.
Guidance
For 2021, USA Compression Partners projects full-year DCF between $193 million and $213 million. Meanwhile, it sees adjusted EBITDA of $385-$405 million.
Zacks Rank & Stock Picks
USA Compression Partners currently carries a Zacks Rank #4 (Sell).
Some better-ranked players in the energy space are PDC Energy , Royal Dutch Shell and Pioneer Natural Resources Company (PXD - Free Report) . Each of the companies sports a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
PDC Energy has an expected earnings growth rate of 165.91% for the current year.
Royal Dutch Shell has an expected earnings growth rate of 163.71% for the current year.
Pioneer Natural Resources has an expected earnings growth rate of 323.95% for the current year.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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