NGS - Earnings call transcript Q2 2024 | Natural Gas Services Group, Inc.

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Operator

Good morning, ladies and gentlemen, and welcome to the Natural Gas Services Group Inc. Quarter 2 Earnings Call. [Operator Instructions] I would now like to turn the call over to Ms. Anna Delgado. Please begin.

Anna Delgado

good and Luke, you, morning, everyone. Thank

those of begin, during or may the we will forward-looking making the statements from I cautioned guarantees differ Investors call, and would that you be those meaning the within forward-looking statements future remind are to forward-looking securities course that developments in statements. projected company laws. are like the Before federal of of performance, not conference this results actual materially

no assurance to as give revise forward-looking on such not forward-looking Gas Finally, Group future prove can the statements intention a statements. or that statements will new should information, place to events be Services undue whether company of any forward-looking update Natural or reliance correct. result you or otherwise. disclaims any obligation Accordingly,

year be actual and and our section found June described risks assumptions our the or with yesterday's the or incorrect, These underlying release of XX-Q press XXXX, including XX, at vary located for are may these and period filings earnings in for and in documents our Should more www.ngsgi.com. Form X-Ks should Form XX-K can in ended SEC, the our website Investors ended risks other of prove These the in materialize XXXX. results materially. December XX, one Form

and gross among others. margin, In addition, our EBITDA, discussion today will reference adjusted including adjusted certain non-GAAP financial EBITDA measures,

under comparable For please measures reconciliations directly the yesterday's measures GAAP, of earnings these financial non-GAAP see most release. to

call Jacobs. I over our Justin Officer, will to now turn Chief the Executive

Justin?

Justin Jacobs

We introducing team. earnings I'd start joining you conference Services in our and everyone quarter Anna, us appreciate XXXX the to by Natural interest for morning. I'll good Gas welcome Thank to your Group. you, Thank this morning. like call. second

quick John high-level by morning is a Joining me President remarks start of and industry. the brief and guidance discussion Chief Tucker, Brian Chief followed the some our updated of the today a Interim Financial with Officer; I'll recap quarter, Operating call Officer. Bittner, our on regarding this

move and few of review our strategy to over our end then X comments value and more the levers progress closing next guidance will our XXXX date. Bittner, increased and call in for our a longer-term our bullish. quarter I'll areas I'll I'll detail. who John the which with with on to to remains growth outlook, opportunities turn quite

as rental QX our X% call. higher for as revenue are I our in increase and As in year-over-year and and a rented we cash against growth growth key EBITDA, pleased by as increase we driven results levers from net outlined performance sequentially quite while a delivering our value with results, increases. last with XX% adjusted revenue horsepower rate the tangible well operations We the reported reported more

and range EBITDA outlook million year, million. million second our of right half which from Adjusted adjusted on $XX our looking year-to-date $XX to outlook increased of our quarter is $XX to to favorable moving we quarters, EBITDA the million of $XX.X million XX% second sequentially year's our compared million X results and $XX.X and were prior last $XX.X to a increased between million. XXXX $XX into the Based

this pleased certainly particularly equates year. last but to I with growth plans. our of performance, of growth midpoint am to our range, posting the XX% XX% announce At after XXXX I'm growth future the QX over roughly excited

and equipment capital fleet. strong grow our access our constraints supply of advantage to taking customer service greater for with levels, are to along demand We both our rental

in who a our XXXX. be Premier CapEx all units customers, is growth are outlook will and to new once our recently increased to higher second support it the expect become guidance our with operating contracts customer in these increase for customer long-term The field. we've the new even We we for including XXXX, CapEx long-term largest will signed

compression horsepower above large the The investments return. new and of average our all rental our rate fleet target for rate are above for contracts

as Importantly, XX% electric motor-driven will new these of units. be of contracts added a result the horsepower approximately

I innovation of were in move horsepower units it to we the able organic think is an our a technological large and customer the testament into the that our strength electric to of space nature. relationships

Going we market of in demand any and engines forward, combination address electric natural motor-driven compression. can gas

the commitment out With have working like customer enhance to and capabilities. units, diversify From concentration not turning We thank all your district dedication to we to the important this service. step our in take of exceptional fleet and through reduce larger these new wrenches a mechanics have our rental I'd team could accounts members field. to done management. an taken our second mix, with without

As market, the prior from new for from strong, strong horsepower Demand and today. comments us, customers and compression industry long-term near- quarters my by new as both remains for both as units. high the evidenced horsepower dynamics ones true for existing we for large well as announced hold remain contracts

to continues where is lesser terms in of approximately a basins is some pricing, on activity as see has this While active us of XX% driven by our oil. oil impact the gas liquids-oriented and instability industry primarily fleet natural in

the Crude anticipate prices the industry years. oil remain production over coming relatively forecasts increased stable and

progress. value as look we that recap, at like to and X in the driving for to particularly tracking customers far now our as already as as significant and third, new unit As growth using are industry the looking first utilization; accretive fleet the on fourth, see our To the improving our I've asset shift XXXX. our we large opportunity, horsepower; M&A. opportunities levers framework growth, horizon is utilized growth discussed strategy. executing second, the out I'd optimizing

QX against to showed increased guidance. leading quarterly strong progress XXXX X I our In demonstrable we results buckets, end, these and believe since of and quarter

encompasses X quarter. $XX $X converting start accounts $XX the existing receivable the parts, went increasing to with former, into assets of utilization to million respect from in which me and With asset fleet. Let cash million, noncash improvement million our utilization our cash X a

I'm create cash. assets, other income there notably We our into am believe noncash as returns of continue accounts will in we is share our -- cash converted more well see cash, from reduce confident per the I and higher to $X.XX owned more estate. tax approximately real leading that for represents to assets shareholders. opportunity This to as confident you receivable as execute, receivable

As I and is an take ongoing up last This to call. our quarter to initiative on noted months will execute. fully XX

our we us, increasing rental With investments key readiness. this to for fleet, of respect to to modest utilization a priority technology, medium-term unit more our convert and make initiative look is units in of upgrade a increase fleet but as

quarters. We expect to have more share in future to information

fleet more And key expansion. come. is we consistent have our here, made with significantly Next opportunity to progress

X,XXX basis representing rented, totaling approximately XXX,XXX in Horsepower compressors, XX% from horsepower year. horsepower which increase at XX, year-over-year. June had stood natural was we of last XXX points utilization gas XX.X%, up a As rented

our contracts new earnings we customers release, with to blue-chip In fleet. expand announced our

portion horsepower As are a compression I mentioned, significant new are all electric-driven units. large and units of the

our larger do increasing contracts CapEx given and be position facility. credit will our support to leverage We growth next these are able and year year this to something we

These rate return services projected all of and for natural gas are target with material awards XX%. are on our capital long-term above invested contracts

is A innovation. utilization, strong I of we'll result, new our a contracts driver cash see As growth key profitability technology in revenue, flow. commitment and these and believe to

customers. this hearing from our We consistently are

another our potential as the beyond commitment XXXX, many interest awards, out our customers this of growing service closing is remarks. come I'll my And customer is sign our to apart future. the technology good towards back from Again, Our stands and looking to pipeline as exceed does large for of is new expectations. this with customers.

the call to pleasure turn it's over my And now John. to

John Bittner

Thank you, and Justin, morning, good everyone.

revenue Total in from into quarter $XX.X QX me ended XXXX. million the Let to months the XXXX, which XX% or jump increased review our results. XX, million, for was up of June $XX.X $XX X second million

QX up increase for XXXX. $XX.X and million up XXXX $XX.X X% for from ended March $XX.X the $XX.X sequential up a Our in QX from million XXXX was million for a XX% revenue million QX, $X.X months increase. million, Rental year-over-year from revenue was X XX, in

second $XX XXXX, decreased adjusted the QX of gross when for to dollars Adjusted was XXXX. gross adjusted XXXX. from and total increased period for XX.X% approximately gross in in Sequential a versus QX QX million margin XX.X% XXXX in last XX% X% quarter. million as percent the compared margin same margin $XX.X XX.X% quarter in $XX.X million Our sales of

increase rented lower decrease as but to horsepower increased material rental primarily was increased in pricing lower margin increase year. along percent from gross primarily margins across of board from driven compared by by XXXX in in gross the The from combination This with in rental was previous year-over-year adjusted driven margins gross by QX. QX an a driven adjusted margins the QX

essentially were QX a million increasing rental margin in adjusted for increased Sequentially, QX million rental gross dollars adjusted in gross XXXX to year-over-year $XX.X margin QX $XX,XXX million by $XX.X from representing $XX.X Our increase. XX% XXXX, dollars from XXXX. flat

gross QX XXXX margin a as for adjusted for QX and QX in percent sales XXXX. XX.X% XX.X% XXXX rental XX.X% of versus Our was

As call, levels XX% we QX previous mentioned revenue quarters with these quarter. expected from last for approximately have to on X in most above for of adjusted averages historical direction adjusted the we gross the the XX% our that historical margins to rental saw that for of we rental and somewhat somewhat We X gross moving in our margins quarters. the recent amounts been stated earnings previous move

averages. and towards We margin historical slight expected contraction this a movement

as quarters variability guidance margins we and of the margin continue for overhead to to repair business costs our margins. increasingly X increase adjusted maintenance need to said, confident and fluctuation evidenced due will strong natural potential our grow. have This, EBITDA some We add of in successful in of incremental with by the that now With as lead about rental are we we rental combined labor XXXX. costs

or XX.X% in specifically for $X.X revenue to SG&A include the expense million related XXXX. $X.X QX, revenue related expense fees, of costs expense to or an XX.X% in Factors increase of versus company million QX was leading XXXX. to increase of $X.X or million QX XXXX in revenue in costs. public professional SG&A was over QX SG&A XX%

QX XXXX. to for and in slightly a $X.XX per was QX share per Pretax compared QX million Earnings fully down income share basis QX to QX on XXXX improved QX. operating $X.X and which approximately $XXX,XXX million in million was was compared both $X.X XXXX, diluted for XXXX in from basic down million XXXX. in from $X.X in QX QX from $XXX,XXX income $X.X Net XXXX were $X.XX sequentially for

of $X.XX And QX XXXX. for per earnings share

Our EBITDA $X.X year-over-year, XX% sequential XXXX. decrease XXXX million second million in $XX.X million QX in XXXX $XX.X increase X% a from was compared to or QX adjusted with quarter

in compared EBITDA and a impacted in X% partially revenue by percent QX by In to XXXX. offset rental adjusted adjusted rental growth Our XXXX. margin gross QX from lower was our QX negatively XXXX QX

just represented rented we compared of XX, units June to X,XXX end XXX,XXX of XXXX, under rented rented XXXX. to horsepower X,XXX as units had XX, XXX,XXX XXXX, QX horsepower In approximately the XXXX. QX of as compared units June At rented

Our units total fleet the as utilization X,XXX XXX,XXX-horsepower unit a XX.X% on of with and consisting June of a was basis. per utilization horsepower on basis a XXXX, XX, XX.X% quarter ending

June XXX at unit, and Our XXX of average unit was the horsepower XXXX. end XX, XXX-horsepower per at up from as XXXX in per year-end XXXX, of

balance from credit our facility. In with Turning outstanding X.XXx million sheet. cash down leverage to X.XXx, of contained agreement, credit million the We covenants and was on QX. just second our looking $XXX ratio at slightly $X.X financial quarter revolving ended and key amended in the as our our in restated

XXXX. coverage charge XX, both of financial covenants we were X.XXx. was Our QX compliance with of comfortably fixed as in our Thus, ratio June for

$XX and receivable real why this QX. discussed no balance last there more expected felt accounts we a have from call, stated from willingness we our at that normal become reasons a that to earnings $X.X at balance concern levels. XXXX, the was elevated issue of timing receivables was Our about customers' our XX, our million was June On time, and million, We be. decrease

rental receivable, achieve progress end be believe The until to to fleet go-forward accounts but more continue what book million. and to of the We're value quarter certainly levels. we expect end have is to XXXX $XXX make, with the at likely to we improvement pleased on net approximately our to was that fully take sustainable improvement of date

increase from be broken the $XX.X of expenditures the related cash as million the of The year, $XX.X of upgrades being capital had in growth million CapEx XXXX income first discussed flow XXXX. operations of call. in primarily million along the the maintenance compared approximately with the accounts balance and earlier can to rental We the unit new half net our remaining $XX.X is CapEx. receivable generated half which to $XX.X in half with higher million We $X.X in first out of of reduction million to for XXXX first of

first our We $X credit will on during closing by million I the remarks. paid net for it Justin turn With down some a to balance that, of the over XXXX. and restated half amended facility

Justin Jacobs

our outlook which XXXX $XX QX marks our Thanks, EBITDA John. million to results an million. to million, million to call adjusted the current on guidance, our $XX from $XX of provided increase With respect for is prior XXXX $XX guidance

moved have the of based up year generating range compressor the margin rented in results the potential We our first confidence our our half on of through and units. our

to We it are to With expect necessary generating making mindful growth respect spend in lowering to compression costs said, XXXX, new addition some efficiencies, $XX and operations there growth our can scalability reallocating in the reflecting million as where looking units. million the improve expenditures, initiatives. that $XX large that are expenses investments horsepower of to to of between With incremental non-core capital cash people and sure best flow we are have to industry. and improving we investments efficiency to cash in relates we in

versus noted of that the were working exact the hit growth million, terms is on in next over At XXXX As contracts increase are what range in in QX early fact year. would the awarded, expect our XXXX. $XX we our assuming X/X currently the primarily and to still just of roughly by due midpoint the release, to 'XX will CapEx range, timing wider we

similar accordingly. we extent faced To would the is growth a higher XXXX or end adjust at to is the XXXX that of range, and issue This in XXXX. we the CapEx XXXX expect lower

While community growth providing rough XXXX of investment have the not have wanted we to currently the we sense signed. are we guidance, a opportunities

CapEx in is the set will our further these As contracts units accordingly. we XXXX update all we move into field that It the related be the expectation projections year, new will XXXX. to in

amounts million to compression including of equipment, other units outlook remains $XX equipment. million trucks and unchanged maintenance related for for the CapEx with with XXXX expenditures Our at majority the $X smaller rental our to field

ones, In terms capture certainly in electric public and horsepower taking closing, We technology faster believe we our remains XXXX to are our we than the XX%. target market, customer are peers, share and our increasing advantage market, of growing the including large compression compression strong our In return on tight the market. we an capital, well invested of least horsepower at of positioned the large industry-leading relationships. are

reinvest continue higher and cash We operating our are net in profitable to business. from to activities generate

Our the growth. balance provides strong, expanded remains and our sheet facility credit us high-return flexibility to capture

earnings We our strategy on cash flow sight while value. losing increasing on and are and near- never executing both shareholder to drive long-term

Considering in can I'm excited concludes our This coming quite opportunities what the the about on achieve remarks. years. horizon, the NGS many prepared

Luke, to the ahead. queue of up for question-and-answer go please So operator the call. our I'll portion ask

Operator

first Our [Operator Rob Capital. Brown Instructions] comes question Mr. with Lake from Street

Robert Brown

the all on Congratulations progress.

and Just new want contracts into the little demand to get the a bit environment.

implies the you're demand the and that. what And and CapEx seeing discussion see contracts. maybe talked start cadence just of think new next good I you the how of guess But environment? you pipeline a 'XX, kind into characterize about when pretty to I is

Justin Jacobs

Well, announced we a just them. bunch of

right on we're focused certainly to significant half XXXX. and going we're the and have XXXX those activity in second So throughout in now,

I in could terms robust So overall of think compression. environment for it demand I is that characterize a

these of time getting going to we are so a busy all new terms of in set. have very And units

in into Obviously, getting and the XXXX units into bunch second still period terms going half to be we new a active that in very the is coming now 'XX had field. are a out on of of

that, XXXX. having beyond XXXX already for with been we're having of terms conversations In and have and customers

environment. that but overall, next docket, so an it's active on the kind of is And

Robert Brown

wasn't on And so ask minimizing you congratulations Great. those. did new I those. about I the contracts to signed, want Okay.

of or I product think that you rental I XX% I the How comparison said developing? of the market margins line? and guess, electric And sort rates that what's drive. is that in market what's the of guess the

Justin Jacobs

There different comparable. are them overall, But as call number differences just them a would generally think in of I would I generally areas. some of similar.

electric market, particular And of power several a site been large machines. these last has the power in a I is constraint demand there at -- practical think to a terms significant increase for constraint is over In the there the also then years. there

yes, able no. site And they some is cases, in is, being some want our flexibility to need the particular at offer one or fact, electric. cases, they in they natural perspective do their customers in and gas, and answer in whatever And want of our what need. They

in really the we at we'll tell us what so exercise in let to let understand reasonably uncertain customers and for this they way, them. that have of able terms power that's flexibility decide that's want grid we And to our it provide the and to be that provided, a the to increases want, point, market as

Operator

Mr. comes question next Ardissono from James. Our with Jim Raymond

Unknown Analyst

maybe can of new rates reference of here roll started is those don't those average on over there, just so you the mind. trying where several higher where little contracts just if sense understand is are your the Just new the kind in? the with think to you magnitude that fleet kind a than today. as Justin, we of of talking about Maybe headed kind contracts shift quarters and fact next delta that

Justin Jacobs

mean, units pricing be invested is overall if is, target not I average that into new to it wanted supportive particularly specifics on available. that these for our to for I it fact on get going the I'm -- pricing. return you the that it indicate that are to new a to show above the Sure. capital. have think, equipment, of And environment, is I fleet good above it going

at not amount, I'm quantify they are point that a want -- but to above they're so I above. And where

Unknown Analyst

you year where of I when from of alluded range the to now there. million is XX at Got growth CapEx look and it. headed kind And this

a on Just of maybe horsepower incremental how would bit to? that little much color equate

Justin Jacobs

the the I is that line at in We to forward-looking, market. added fabricated A in building line this of say at what's horsepower those to with haven't partners not X generally point. of horsepower the just because look amount. we're size terms disclosed would number with it's the X it's with out of generally disclosed significant horsepower the you doing going a is of this this over in although we've if in And externally the percentage be cost that that years, we've levels. price there last

Unknown Analyst

Appreciate last you kind just nice DSOs, your of really between other it. one one this cash doing. that. on maybe of Got and you're initiatives progress on the things And which made some quarter

You mentioned visibility months, any XX quarters? here but over items could if out the time on these have next curious line some handful of be you of to just the

Justin Jacobs

control, a will couple way we've are There accounts and bit receivable Certainly, little I'm something happy that frames. and that a the good Sure. continue in shown time believe and our execute on front, that. more progress on and of further against to is that's buckets we've executed the we

there. it's levels levels, historical been we're receivable, something past, a dealing in that. historical within well of by progress get we above agency And to we've As but making is we kind back tax The to year-end. but against, John income certainly, recent the with to are mentioned, government return want

that. accelerate we I -- question it's somewhat up And it that so months. range the if little that just estate, probably we we When can at are practically, of gave And doing timing, more XX at I think not just significantly day, to everything owned towards the side to that. a is at their longer is comes we And a of we're term. their to it our on receive -- bit believe but that's mercy, the and will end the real

more make but to real Certainly, significant does and some time hope some estate, with take just progress it there's value there. some we quickly,

on. so it's And something we're focused

just the timing I longer. a little think is

Unknown Analyst

Appreciate color. Absolutely. the

Operator

the next Our Mr. question Maxim Sullivan comes from with Tate Group.

Tate Sullivan

advantage process about is And months engines Can than a talk of competitive kinds ago? longer engines Is different access it themselves? than of couple the of procurement of the that competitors. the you your part to a

Justin Jacobs

year certainly longer probably or it not better the long time that a over so but generally it it's time long a isn't it's lead little item. time frame, was lead the than and procurement only think the I item, trending still past and bit

done. compressor really a item. longer items, and all have frame And ago, still they kind time a They're are engine, general it's of less were those with then are the X the but long which lead slightly fabricator X space getting than lead years to it still

end uncertainty And CapEx on and end so year at contracts and as these QX, all the were that of will saying by of roughly to X going spend QX exact between of leads to the is we they expectation and some 'XX how fall looking set the of 'XX we're be just timing that an to much XXXX. months the but in of

think long And it it reasonably a probably was still better but so little than a time, is before. lead I

Tate Sullivan

technology. you're related to And related to what you that your more industry-leading can comments engines or talk Is about about gas natural -- referring what to? of the

Justin Jacobs

our items that the I our think of time a important there. to favorable from profitability them the a times the that, and of the availability, that smart but key is productivity that run of delivers customers and couple There and units a on to customer received in ultimately point lot to due terms of that's actual perspective service the not feedback technology overall. would is that those run I from we've quite sees mechanical are units are level strong,

which of also And so relates component, the we the that's an characteristic technology engines, to to and units it. or increasingly component reducing emissions, that And on important is of second put is need major the that some the producers. for one but

X the drivers the the but certainly And not we're getting only very technology of responses so of customers. units where larger favorable of those big from the are the ones, ones, of X

Tate Sullivan

electric horsepower or have field you in do last, motor not? the And already

Justin Jacobs

do. We

Tate Sullivan

Oh, do. you

Okay.

Justin Jacobs

do. we Yes,

Tate Sullivan

components it I gas are necessarily. related those, is much not And service Okay. to the less engine natural compared assume the to

Justin Jacobs

dealing an versus levels you requires but back it way got It with parts, of less engine motor we because these you electric fewer is is ago. an the have just maintenance an maintenance area years in significant going some fabricating some experience that have moving that all lower lower to

So it's we that a area good an of experience bit have from.

Operator

our question Selman Stifel. from comes next And with Akyol

Selman Akyol

A quick of ones couple for me.

of XXXX. expect about is I towards be percentage talked, little move you bit you think, you one as a to beyond? Would delivery way So look your or other that drive you XX% electric to XXXX and meaningfully going into and guided the

Justin Jacobs

Just is your electric to question XXXX? the much confirm will in differ percentage

Selman Akyol

Correct.

Justin Jacobs

'XX the would and remainder I contracts, say, new 'XX of XX%. on that's looking overall that

Selman Akyol

And electric, mean, then electric. something way? it's changing not of Because still horsepower, a stumbling there block? them given out been that's hearing it. Got that large kind for huge especially is -- seeing we customers because It's Is your to right? confidence large something go I that have but are just that's there

Justin Jacobs

was been the I horsepower. we've uneven large seen I it's several think interest generally, years -- last increasing it that say, would the in somewhat although

the certainly, at I perspective side one as power on the in and that from and consistent is operator's to assuming less -- exists but site; relates just the some it maintenance, compressor think is that that's there is it time attractiveness the an then two, emission that potentially run particular there that power. units with

have they there's large think, -- and instances terms of that. I on material the power is, fair overall specifically bit around really are a of that of uncertainty will would. as uncertain customers The for the restriction thought potential they a they horsepower and to -- And penetration in compression

put already electric to horsepower there. suddenly, and they'd didn't then they planned And

customer is can supply so or an we the question is And take to of is that's a I supply that an the kind reasons of we consistency it's think mark. really want the one either. And which power approach there, the unknown, either big and whatever wants that

so I And interest. there's think significant

will going think uneven. to be it some time, to but of over increase continue I period long it's

Selman Akyol

Got Permian, about out I in any demand it. the the are but basins other you you always know we there? Permian, guys seeing focus on And talk

Justin Jacobs

the demand. We're say XX% focus with that it's business, seeing, are the other for we it continuing It's around most mean basins would robust. our just us, more it's certainly And the driven. certainly Permian basis doesn't we for but not are area that smaller, size in a of I most that there. on relative see us, oil for to it just is

Selman Akyol

then just last one you touch your for it. Can me. on Got acquisitions? And for outlook

Justin Jacobs

process. an ongoing It's

shareholders returns. one I is not opportunity good have for see, us I our do an believe, think to very that we to for it but it's

think ongoing so It's feel set it's that do. not an entire And fleets, pressured I acquisitions, I look but discussions companies portions are that at with that of it I potential way. we of or to one whether

are there think base but to remain to I is we're in looking the fleets logic an mix, advantageous at, of We valuation. the and it, position strategic that we'll on disciplined composition customer obviously the the

sense for will we ongoing it we be makes And so shareholders. if we'll trigger the see something of that at, process, an which think continue to look and we'll pull

Selman Akyol

well just much looking working company, but thinking either do another not that thought? not as so about about have customers who are sell you just thinking to units from be of acquisitions, originally basins terms maybe as In compression may out

Justin Jacobs

heard I'm right. that I'm I sure repeat Selman you just can the not question? sorry,

Selman Akyol

Yes. Yes.

Let me phrase better. it

acquire thought spooling not where So up from them you fast an customers packages as basin is from potentially or that any their your emphasis. are could there less as either they of

So to customers? your any packages from is opportunity buy compressor there

Justin Jacobs

it M&A. larger not although customers. -- but that's that a we see becomes are of today. sorry. wouldn't a I our I time where If that from it's big that it's part portion in something would certainly we it, of describe We've that opportunity, material look where seen at, spending we'll missed I part, a as the not

Operator

other don't any I see please. [Operator Go questions. ahead, Instructions]

Justin Jacobs

on We participation on appreciate you to shareholders. all their to progress your with our results with for all the and questions our next Thank Thank quarter. I delivered the We and also in who updating everyone, to of for you, business. thank us done want our look thanks employees your trusting thank call. our forward customers Luke, want you, of support. we're and sincerely for I these the call.

Operator

conference today's concludes for call. This Thank everyone, attending. you,

Natural Gas Services (NGS) 15 Aug 242024 Q2 Earnings call transcript