our be from XXXX solid to financial We operational with most beyond. achieved outlook Thank you, momentum results XXXX XXXX promising today Megan, extremely quarter of I'm morning, out significantly proud with and our financial, for you good closed to our happy perspective. what performance. and and team strong I'm discuss a and everyone. strategic fourth operating and and
net for accomplishments grew revenue delivered the to and X% meaningful growth the compared XXXX. year, our income Among by we
high And we tirelessly non-strategic demand. exit by increased fleet grew sales. teams horsepower active basis by contract for approximately all-time XXX excluding XXX,XXX Archrock our in customers' increase points fleet We of utilization meet sharp compression asset Our worked XX%. an to our operating our to
XXXX, exceptionally busy efforts, targets lost and performance. excellent non-strategic safety advanced fleet high-grading XXXX, assets, the horsepower. total Large our horsepower, this zero In maintained time market totaling we end during now XXXX. XXX,XXX environment, of stable XX% incidents. compared our including the annual horsepower our of segment XXX,XXX exceeded to selling we more active represents at We safety XX% the of fleet achieved compression In
a I work, XXXX. helped thank better moment which their take want up customer in be will XXXX for for and set to employees service, to to great our deliver a even to we and an result dedicated hard leadership believe what us
Looking at an the year for point at exciting inflection ahead, we're Archrock.
of intersection platform. robust the reflects and with radically compression Archrock's transformed differentiated market outlook Our fundamentals
I've our exciting industry are Fundamentals and midstream exceeds available equipment. demand large as as for for the horsepower seen, ever
a expect XXXX of year and We performance to utilization benefit record-high full from pricing.
lower gas support strong In therefore economics gas even, our in to demand price the associated continue resulting and environment. oil-directed for midstream The the drilling. WTI transported be prices, near-term, need compressed, for to volumes horsepower driving healthy
been has Basin, dynamic this shale liquids-rich pleased Permian While notable been several plays. activity the in across customer growth we've and most with
dry predict, do during in to forecast, analysts response the balance gas plays supply XXXX, Some a market.
and and in and experience expect current tight the undersupplied expected and growth XXXX LNG impact given our see to to market the material business, yet we've beyond. However, do and not demand a compression
of and well the compression growing equipment we energy the services as supply demand compression long-term, the believe, the as and constraints for gas spending generally demand In sector by particular, for the support capital and of disciplined the oil in natural gas in Archrock. growing strong
two factors that improving most in recent the in two Furthermore, years XXXX. are have we believe profitability impacted
to continue will which slowing stabilize and our operating to work First, inflation be to appears enable improve better costs. to us
Second, of redeployment utilization for current fleet. will of expect given high reduce, level to we the units required our existing spending ready make the
we the few our technology for Against a been also to that backdrop, years, of central the economic high-grading investments last fleet strategy supportive continue have including the market benefits will to reap during severe efforts downturn. and the
efforts, these has of high-grading horsepower and to standardization, been improve cycles. growth market leverage Through utilization customer goal place. midstream We've to unit the enhancing fleet, focusing large market, and profitability repositioned our relationships our segment through on the
technicians and equipped the on mobile-enabled integrated And service front, we've service with and communication our technology telematics fleet field tools.
this the management asset the inventory supply improve uptime, driven efficiency improve lower carbon Archrock, footprint. field technicians, our to service increased technicians expect drive and by emissions, We and reduce miles at service and our chain the of field our emissions
never done, lifting environment demonstrate truly focus more should to can we earnings the heavy power operating where improved XXXX, normalized and excellent our a offer is Although execution. on begin
asset compression, This for to experience, platform high-graded with demand means, efficiently and robust profitably customers base harnessing our help opportunities prioritizing first-rate emissions technology and continuing capturing to and deliver our upgraded management. a customer
segments. our our with idle our strategic significant to getting to business horsepower increased And We total more reached sales by utilization quickly back Utilization, we fantastic EBITDA. a our an high our of all-time to bookings strategy. horsepower horsepower idle during replace sales backlog non-strategic XX% throughout active equipment fleet higher as contract exit to -- Moving XXX grew record did operations and fleet work momentum of quality and high-grading all to our XXX,XXX approximately built highs operating committed in the XXXX. active chose horsepower, the fleet sell team than of job excluding part these year,
on market were several align asset for spot record pricing continue set highs swift took higher action categories key contracts prices, also inflation. and throughout we to our move and combat pricing During across Pricing XXXX, the proactively base as the year. with we installed to renewed
full the increments also We and capture prerogative maintain rate to impact year's these during of and from additional will a benefit expect pricing increases meaningful XXXX.
dollars year an sales asset stages his expect for as of as our And for to review costs expansion resume our of which margin reactivation $XXX in will operations to in back the million, proud to flat margin we we dollars gross early say in non-strategic the delivered well that and essentially despite Doug elevated upcycle. record year-over-year I'm to for margin idle inflation put segment gross customary fleet guidance, of contract later during the as work, cover XXXX. reduction are
experienced service improved aftermarket quarter Moving levels activity work. full XXXX performance and segment. to our are at services XXXX and customers with maintenance compared Fourth catch on running parts revenue year up not to as XXXX deferred since meaningfully and
We expect healthy levels of continue into XXXX. to activity
balanced shareholders framework remain We allocation XXXX. capital to returns with maximizing approach. our a to committed the for for Shifting Archrock
and returns front shareholders to center. are capital First,
We As multi-year Archrock's announced for in to growth, announced, a decision our in February compression conviction resume the dividend recently dividends and increase XXXX the payment. upcycle strategy with X% recently beginning for a supported per shareholders step expectation by for our our approximately and for strategy coverage is share two goal in to meaningful capital times XXXX. is a of of deliver return dividend leading drove
Future to significant evaluated be in profile management based and sheet increases Board future opportunities, of growing to determined the capital and our will generation of anticipate on cash our confident as dividend balance the investment and return shareholder business coverage. and our and well over flows We're time. by shareholders returns as cash
begun undersupplied cost of XXXX sell have redeploy for in the planning XXXX of returns long the Furthermore, to support an and Second, limited we capital. programs customers needs opportunity equipment. into proceeds for already our to asset supply lead at market well have compression times given excess in
demands. will growth to Our assets capital quarter our on be energy incrementally XXXX at higher these as needed will call, production and XXXX needs to in meet be third growing compared indicated meet we to deployed
yesterday, announced a of such, million. $XXX and million between capital we As $XXX budget growth
focused responsibly key basins. in with We're customers on growth-oriented our growing strategic
our footprint strategy. their our Our customers driving commitment and to investment are returns strong helping reduce emissions
we such, budget CapEx motor of million growth horsepower. $XX expansion expect approximately As drive fund to our our electric of
This midstream execute sheet Finally, much essentially compression our environment, liquidity downturn. million our And investments We've a strategic maintaining and over three through improved nonstrategic units. $XXX last growth older, in with completed to years. our of our assets higher leverage strong in a now divestments plans. on the underpins balance allowed the effectively to large profit, investment us we've prefunded manage ability
give and achieving expected with to future year times debt-to-EBITDA current of addition, of X.X X below target a proactive this sight earnings our of line near-term ratio debt reduction leverage ratio In visible to times. us a in increase X
carrying summary, built is in In over XXXX XXXX. into positive the momentum
a have We run our as execute ahead of year I foundation us. for shareholders. we lucrative strategy, for as business we our and a And multiyear an up opportunities market which exciting and what believe be a for serve profitably will and set banner compression our year, are to capture
color fourth a on quarter to the call With to turn guidance. to of provide XXXX and additional that, year like review full performance our and Doug I'd our for over
