good to Services Alicia quarter you and you, for and Natural earnings everyone, into morning, Gas review. welcome XXXX Group Paul, Thank and tuning fourth the call. XX:XX Thank
the business overall revenues pandemic increasing up active nearly of quarter, consecutive increase in rental to an primarily X% in in noted grew with recover As approximately quarter core service year-over-year due sequentially and basis. by release, the and fourth Our revenue a again, continue decline grew X% primarily earnings grew revenues X%. Compression fourth sequentially horsepower. business our XX:XX a our Year-over-year, maintenance growing total Sequentially, basis, fluctuations X%, with both on business total one XX:XX in and overall comparative our our flagship growing basis, in revenue year-over-year business slipped driven our rental sales our and businesses. grew growth. rental X%, rental of On revenue lines compression XX% revenue XX%. on induced from quarterly to a every rental full-year and
better decrease to NGS quarter-to-quarter, grown in and quarter consistently respectively for of increased the For gross months $XX details. cost, NGS and the were XXXX year-over-year Adjusted transient at the was is later on three noting is short, X.X% XXXX This impact XX, XXXX. XX:XX adjusted largely with offset offset XX.X% relationship gross mobilization that units, of While and partially had third-party from to rental and material revenue. our to rental catch start-up significant. customers. XX as I'll solidified related of margins those million both (ph) for It margin or increase for the business in an in in maintenance due time our rental the level key Total mean, in revenues decrease when In sales depreciation revenue revenue deferred ended potential rental of further of horsepower year total $X.X results. I maintenance which quarter in and million full-year with increase and and and cost as million was are last recovered same third-party there general quarters, over worth comparing as $X new have the have and result our one was and labor XX:XX primarily XX, our commissioning that a hiring call business three slight large let's million increased bottom the a I'm the half of X% fourth pleased, in to revenues of margin, result time, of period reported revenue revenue. revenues of result our line, these expenses in total you're in for in from months same up catch on does X.X% increase compression decreased year. expand also XXXX. income increased December well as installations. of horsepower up, to long-term of This improved will our businesses -- When on while a costs from ended has we revenues total higher sequential a pandemic. ended show sales business every financial maintenance million had consecutive the $X.X expenses these we $XXX,XXX startup a were across the by in Significantly, look $X.X board, $XXX,XXX. in December driven an expenses necessary XX:XX large compression from our The continue by Now gains sales December revenues, XX% than traditional are maintenance and sales primarily rate, a second our the quarter the XXXX. include comparing related of maintenance customers in result in increase fluctuate quarters, X%. also costs XX:XX rental the not almost concentrated run revenues that
cost million quarter driven $X.X As higher in adjusted labor for were to repair inflationary compression related $X.X noted and commissioning the fourth Sequentially, margins growth by costs XXXX start-up impacted costs, and million prior to setting, emissions the parts. and by maintenance Not expenses the decreased to XX:XX lubricants gross increased from margin repair quarter. deployment. and rental earlier, and in of mention
of gross increased margins quarter. XX% also which a the impacted a rental As significant adjusted resulted decline to decreased this portion in fourth The to compared the cost, of in from majority percentage margin XX% gross quarter the revenue, of quarter. prior
and still start-up the and level quarter. As expenses include noted rental grew an of earlier, fourth in our cost Our increased to mobilization, extent lesser higher in XX:XX a the revenue manufacturing unabsorbed commissioning, costs shops.
was profile anticipated. higher expense Our than
While many seen new the chain materials in of these from raw are challenges. inflationary and result expenses and we equipment supply pressures of mobilization, supplies, are not immune
We sourcing diligently to mitigate inflationary will to working and our are pressures supply efficiencies. in be improve vigilant material
for in net quarter. loss primarily on million $X.XX $X.X for inventory loss of to as over and million is compares insurance and in and expense decrease fees, XXXX. taxes, loss to $X.X in XXXX. which quarter, insurance the quarter, the in $X.X resulting a in quarters, a sales million last margin realized increased XXXX. from of $X.X of $X.X an product by was million gross partially This quarter this quarter is third fourth comparative quarter from XX:XX diluted period offset the loss comparative million increased in expense, costs. share sales EBITDA sales from of sequential operating in and the December excludes million, this increase months before of increase million. due On selectively to aforementioned will administrative impacted industry provide fourth compared million XXXX. per was the primarily Sequentially, operating million as of due compressors, per fourth defined million XXXX expenses sequentially $X.X loss adjusted in from XX, decrease Adjusted share costs. million Operating over increased The an This gross quarter $X.X a the to XXXX the respectively $X.X quarter the expenses flares $X.XX last loss fleet across decreased diluted This in fourth last was $XX.X This operating net executive decreased from believe loss reported a health we and units fourth Sequentially, $XXX,XXX. XX% interest, from basis, to margins. in as fourth by margins was and of retirements, On adjusted $X.X earnings million the the non-cash XX:XX comp our fourth in XXXX lower almost loss We EBITDA quarters EBITDA SG&A the for of and to write-off quarter quarter. sales periods. units our of adjusted This increased in million Our to as This comparative year-over-year pricing ended of $XX,XXX basis, $X.X gross in XXXX just and improve to on million a are positive retirement full-year current million fleet XXXX. full-year quarter to positive and rental the our which XX:XX decrease loss three quarter XXXX third XX:XX of share year-over-year margins, a XX% to increased total margin third general $X.X EBITDA in X% components. a the quarter in third recovery. Total quarter the in and $X.X all amortization of a and from in quarter due had XX:XX in both XX,XXX net was to $X.X items. million from the same the of is compensation a this Year-over-year, $X.X loss a We $X.XX EBITDA rental revenue, per and our from higher due professional of and the write-offs. the $XXX,XXX. we million activities allowances a negative stock volatility of in year's $X.X million lower after-tax momentum $X.X fleet XXXX. Sales, and opportunities of diluted comparative includes quarter decreased also health expenses of inventory XXXX, very for loss well to quarter, XXXX. a our million a approximately sales loss change lower of $X.X million is compares $X.X retirement reminder, Adjusted quarter million. fourth $XX.X compared $X.X margins in XX:XX depreciation however, inventory to
December million lead equipment, there loss current but sales a posted in $XX.X XXXX items yet. to ended months fourth three half XX:XX absence to loss and quarter compressor costs. to the business approximately same quarter with in revenue last of not Although, $X was recognized a unabsorbed recorded generating we as year approximately a loss that Our adjustment the Due current the projects a and $XXX,XXX As this increase be any million obsolescence $XX.X to period fabricating compressor our third compressor compressor products, XXXX mean no but inventory margin of some does are in of the XX, recognized cost, quarter's of we sales of for XXXX. backlog, $X revenue backlog compared quarter sales fourth in with progress, in quarters had XX:XX quarter all for million sales and XX, business the our December of slow XXXX, equipment of to not long associated quarters. revenues are continues Rental this quarter, ago was XXXX unabsorbed compared to an that approximately $X.X sales comparative fabrication XX%. with due by and compressor however, the was million $XXX,XXX the revenues noted of doesn't million the only compared revenue, loss our on the
the in year-over-year per approximately to grew million For $XX.X quarters, unit increased million rental Average quarter. rates $XX.X from sequential rental the XX% revenue quarters. last
decrease -- in effect certainly, and higher -- that to new manner essentially gross were gross to While, the XX% more rental margin to million rate. increased lead million horsepower to the of last due from quarter. throughout $X.X adjusted from this contributes margins selling to the a our revenue revenues XX%, largely flat Rates is year-over-year, outsized outsized year, related were positive decrease sequentially. compression units, average quarter higher equipment, XX:XX a more and expenses this Rental XX% $X.X increase an above Rental expectations. which margin skewed were an gross a improved over-time
current the equipment created margins. meet in to is such affect in rotating results deployment are reimbursement activity, as training, expenses. In challenging. can transient it from are expenses, well had revenue recover and by we expense, personnel the board additional demand, course, in initial cost expense initial we new as addition room do which expensive as such is we we significant expenses Hiring recognition will large the before fourth commissioning eventually employees, of as especially transportation in free and does XX:XX provide are to those we problem our of equipment resulting These encouraged to necessary while is very Permian especially has Permian a are the did mismatches experience head experienced count operations new it generated. time-to-time skills, supply the addition the from but recovered the above, quarter. revenue travel higher can finding time, employees cost units. be XX:XX like and has non-repetitive wages outside only expenses not costs, significant, to This also expenditures, increased overtime of In the in but oilfield as in prevalent we all maintenance experience living, in rising qualified in While, and the and horsepower
maintaining expenses meet reflects basis. experienced by what rental XX:XX is and packages, measured compressor $X.X the competitive removed horsepower -- over to or $X.X customers. demand, size million. increased compressor as XXXX fleet of XX.X% units XXXX. the direct XX:XX and field of experience a to a imposed addition at this for anticipate million we the lubricants a third-party addition have to impacts cost which margin over fourth quarter. core fluids spite furth contract our by A XXX,XXX We parts, we at pandemic-related of concentrated or in rental rose fleet fleet retired $X XX of a charge total full older fully the In the units which maintenance In our of to itself net With in year expense that we the had horsepower absorb horsepower rental In from catch the cost quarter, number fleet up on the of from was in of the one-time on experienced, income, non-cash addition year-over-year December approximately labor, per were our operating also fleets. during end compressors totaled also an XX,XXX higher cost gross X,XXX horsepower, in XXX also due all million we maintenance of a X,XXX representing equipment and for
just that horsepower past XX,XXX the have of As about XX, new in majority of added classified compressor that horsepower of horsepower category. with per XX up XX% we is totaling horsepower horsepower, the XXX fleet units units made our XX of of XX:XX are over our excess unit. XXXX in large months, being Over utilized December
units Our XX:XX base in gas is this approximately the which and does unit $X.X XX% in rental include the utilization was approximately at compressor end quarter, progress capital horsepower quarter. of Our completed for utilization not was million. XX% approximately fourth expense work fleet
vehicles $X.X fleet additions on million expended other the an For capital, year, additional million in completed with on $XX.X PP&E. and we rental
million with outstanding of year the a at $XX have in to of no quarter million on million. CapEx to and at $XX.X million. quarter, continue at million we anticipate compression end the the expected From debt cash the ago continuation cash coming XX:XX fourth will Permian ‘XX, compares growth fourth quarter a Basin approximately perspective, last in end of activity anticipate the of year. balance $XX our spend This we $XX.X a in the balance the With sheet $XX.X we to
with funded to program, stock the our of capital million cash spending provide from market. operations, strong line flow relatively cash XX:XX net of is common This utilized XXX,XXX cash While liquidity cash our buyback our continued credit open on We balance spite steady committed In generated this due of continues equipment rental to over million positive flows conversion. a balance $X.X our operating of quarterly revenue. ability and all our from strong to has shares quarter we on cash and our flow combination of sheet nearly on flows. we repurchase expenditures our the to quarters operating $X.X cash capital balance in fully stock our of conceivable any The strong ample or in activities untapped deliver in cash XX% scenario. comparative
$X.X million back our XX:XX stock as for program XXXX. stock total stock common X.X% of million XXXX, of through buyback buybacks We outstanding December also totaled or reinvested this into $X.X Our company quarter. the XX,
course over growth share. a In purchase year for in transition the short, $XX.XX is was average ‘XX Our per NGS. of of XXXX
pandemonium. and away large half As We year, our higher in continuing and rental and growth, started anticipated which XX:XX profits. in years to We growth future, on long-time focusing oil especially and than and in presents the six-month continue on half period seeing our workflow and improving challenges new shy the to returning investments cost the horsepower the equipment have This provide a anticipate profits, vendor process to continue and and in margins other required create ways efficiency We the result growth on should ways by reduce patch and pricing to primarily of in last driven year. build from of procurement a are XX:XX the relationships. large efficiencies for run to to second we we lead of other the impact to had for overall margins two process boost won't as improving the will be more selling but customers. in transformational we increased in to expertise our the normal profile. we're look our of cost Basin, a But year comparable horsepower the in and began use those also of also Inflation NGS strong than areas. execution any pandemic focus fleet, transition best-in-class will induced horsepower to position challenges, an expense as will rate, a in will financial supplier may steady facilities the sourcing, to coming We but Permian of we higher address signs our fabrication our continue in given also activity number advantage XXXX. activity
already high horsepower commitments are additional a couple operating in have different areas ordering we had We units currently for equipment. and of
our of maximize debt, equipment strong cash companies with of we Natural ordering to the no position flow. few and a committed generate with Gas cash consistently and significant the rental that Group our recurring continued oilfield We Services majority one operating remains needs have ensure a stream, practice utilization to ability XX:XX to of returns. meaningful the
pandemic protocols year pushing operating new will us with we health steadily beginning the indefinitely. With environment related to and we on more well to safety feel, or normal are remain many underway, are
to as XX:XX for and continue I'm opportunities. personal work fortunate continued and more my regardless Gas we of meet successful our that's efforts past customer that XX:XX another two interactions and XXXX the the year end grateful the to largely needs Group. the the challenges. people leading Paul, work to are healthy prepared make strive return remarks. of Services during for patterns are We're to efforts Natural new years remained their NGS Our more the to regular customers, for of team beginning to
would So phone please if open lines you the for questions.
