USA Compression Partners, LP

Listed Company

USACCIK 0001522727NYSELarge AcceleratedNatural Gas TransmissionFY ends Dec 31

Period

FY 2025

Revenue

$998.10M

Net Income

$111.32M

Total Assets

$2.62B

Equity

—

Shares Out

144.97M

Op. Cash Flow

$394.26M

Business

USA Compression Partners, LP provides natural gas compression and related field services to the oil and gas industry, operating and maintaining a large fleet of compression units. It offers engineered compression units, installation, operation, maintenance, overhaul services, and natural gas treating (CO2/H2S removal, cooling, dehydration), and deploys remote monitoring and dual-drive technology. The business is organized as a single reportable segment providing compression and related services and is managed by its general partner. Its operations are conducted across the U.S., concentrated in unconventional resource plays and served to major oil companies, independents, and midstream operators under fixed-fee contracts.

Summary from filing dated 2025-02-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	998	950	846	705	633
Cost of operations, exclusive of depreciation and amortization	329	313	285	234	194
Depreciation and amortization	285	265	246	237	239
Selling, general, and administrative	66	73	73	61	56
Loss (gain) on disposition of assets	4	5	−2	2	−3
Impairment of assets	8	913,000	12	1	—
Total costs and expenses	692	656	614	535	492
Operating income	307	294	232	169	141
Interest expense, net	−187	−193	−170	−138	—
Loss on extinguishment of debt	−3	−5	0	0	—
Gain on derivative instrument	0	6	7	0	0
Other	97,000	110,000	127,000	91,000	107,000
Total other expense	−190	−193	−162	−138	−130
Income before income tax expense	116	102	70	31	11
Income tax expense	5	2	1	1	874,000
Net income	111	100	68	30	10
Less: distributions on Preferred Units	−8	−18	−48	−49	−49
Net income attributable to common unitholders interests	103	82	20	−18	−38
Weighted-average common units outstanding basic (in units)	121	113	99	98	97
Weighted-average common units outstanding diluted (in units)	121	115	101	98	97
Basic net income (loss) per common unit (in dollars per unit)	0.85	0.72	0.21	−0.19	−0.4
Diluted net income (loss) per common unit (in dollars per unit)	0.85	0.72	0.2	−0.19	−0.4
Distributions declared per common unit for respective periods (in dollars per unit)	2.1	2.1	2.1	2.1	2.1

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	9	14,000	11,000	35,000	0
Inventories	134	134	115	94	86
Prepaid expenses and other assets	11	12	11	9	6
Total current assets	237	235	226	186	205
Property and equipment, net	2,163	2,273	2,238	2,173	2,222
Lease right-of-use assets	14	14	17	18	20
Identifiable intangible assets, net	187	216	246	275	304
Other assets	20	7	10	13	16
Total assets	2,620	2,746	2,737	2,666	2,768
Accrued liabilities	94	99	85	76	114
Deferred revenue	65	64	63	62	51
Total current liabilities	187	191	188	174	188
Long-term debt, net	2,524	2,503	2,336	2,107	1,973
Operating lease liabilities	11	12	15	16	19
Other liabilities	11	13	11	8	10
Total liabilities	2,732	2,718	2,554	2,305	2,190
Commitments and contingencies	—	—	—	—	—
Preferred Units	0	169	476	477	477
Common units, 126,795,135 and 117,314,783 units issued and outstanding, respectively	−113	−141	−293	−125	87
Total liabilities, Preferred Units, and partners deficit	2,620	2,746	2,737	2,666	2,768

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for expected credit losses	0	630,000	2	−700,000	−3
Amortization of debt issuance costs	9	9	7	7	10
Unit-based compensation expense	4	17	22	16	16
Deferred income tax expense (benefit)	466,000	574,000	−52,000	−151,000	−42,000
Change in fair value of derivative instrument	0	1	−1	0	0
Accounts receivable and related-party receivables, net	7	6	−13	30	145,000
Inventories	−41	−102	−77	−32	−13
Prepaid expenses and other current assets	920,000	−1	−2	−3	−4
Other assets	−4	4	4	3	3
Accounts payable	−729,000	−4	523,000	8	9
Accrued liabilities and deferred revenue	8	36	4	−38	−5
Other liabilities	−17,000	410,000	0	0	0
Net cash provided by operating activities	394	341	272	261	265
Capital expenditures, net	−117	−205	−239	−134	−45
Proceeds from disposition of property and equipment	2	1	5	4	4
Proceeds from insurance recovery	68,000	2	535,000	597,000	2
Net cash used in investing activities	−115	−202	−233	−130	−39
Proceeds from revolving credit facility	1,795	1,118	1,089	845	698
Proceeds from issuance of senior notes	750	1,000	0	0	—
Payments on revolving credit facility	−1,773	−1,218	−863	−715	−655
Repayments of Senior Debt	−750	0	0	—	—
Investments in government securities in connection with legal defeasance of the Senior Notes 2026	0	−749	0	0	—
Cash paid related to net settlement of unit-based awards	−9	−5	−6	−3	−3
Deferred financing costs	−18	−19	−379,000	−549,000	−10
Other	−372,000	−2	−489,000	−518,000	−558,000
Net cash used in financing activities	−271	−139	−39	−131	−226
Increase (decrease) in cash and cash equivalents	9	3,000	−24,000	35,000	−2,000
Interest Paid, Excluding Capitalized Interest, Operating Activity	181	154	164	129	121
Income Taxes Paid	2	1	1	887,000	819,000
Distribution Made to Member or Limited Partner Non Cash Distributions Paid	192,000	2	2	2	2
Transfers to from inventory to property and equipment	37	79	55	22	11
Increase (Decrease) in Capital Expenditures Incurred but Not yet Paid	787,000	−9	4	7	720,000
Financing Costs Included In Accounts Payable And Accrued Liabilities	61,000	14,000	125,000	−265,000	391,000
Non Cash Exercise And conversion Of Warrants Into Common Units	0	0	9	5	0
Exercise And Conversion Of Preferred Units	164	301	0	0	—
Government Securities Transferred In Connection With The Legal Defeasance Of Debt	0	749	0	0	—
Legal Defeasance Of Debt	0	725	0	0	—

Filings

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