USA Compression Partners, LP reported a total revenue of $998.1 million for the fiscal year ending December 31, 2025, marking a 5% increase from $950.4 million in 2024. The growth was primarily driven by a 3% rise in contract operations revenue, which reached $912.0 million, attributed to higher market-based rates and increased demand for compression services. The company also noted a significant increase in related-party revenue, which surged by 57.4% to $65.0 million, reflecting the full-year impact of customers acquired through its relationship with Energy Transfer. However, parts and service revenue declined by 11.6% to $21.1 million, primarily due to reduced maintenance work outside core activities.
In terms of profitability, USA Compression reported a net income of $111.3 million, an 11.8% increase from $99.6 million in the previous year. Operating income also rose by 4.1% to $306.5 million, supported by a gross margin increase to $384.5 million. The company’s Adjusted EBITDA for 2025 was $613.8 million, up 5% from $584.3 million in 2024, reflecting improved operational efficiency and revenue growth. The Distributable Cash Flow (DCF) increased by 8.5% to $385.7 million, resulting in a DCF coverage ratio of 1.45x, slightly up from 1.44x in 2024.
A significant operational development for USA Compression was the acquisition of J-W Power on January 12, 2026, for approximately $860 million, which added 1.0 million horsepower to its fleet. This acquisition is expected to enhance the company’s service capabilities across key regions, including the Northeast and Permian Basin. The company’s total fleet horsepower reached 3.9 million by the end of 2025, with a utilization rate of 94.7%. The average revenue per revenue-generating horsepower per month was $4,256, reflecting a 4.7% increase year-over-year.
Looking ahead, USA Compression anticipates continued demand for its compression services, driven by the expected growth in natural gas production and associated gas volumes from crude oil plays. The company plans to invest between $290 million and $320 million in capital expenditures for 2026, focusing on expanding its large-horsepower compression unit orders. However, the company also acknowledges potential risks from geopolitical events, inflationary pressures, and changes in global trade policies that could impact its operations and financial performance. Overall, USA Compression remains optimistic about its long-term growth prospects in the natural gas compression market.
About USA Compression Partners, LP
USA Compression Partners, LP provides natural gas compression and related services primarily in the U.S. energy sector. Its core activities include operating a fleet of standardized, flexible compression units for infrastructure, artificial lift, and processing applications across major shale plays. Serving major oil and gas companies, the company emphasizes reliability, safety, and long-term fixed-fee contracts to generate stable cash flows.
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