D. Childers
fourth year pricing excellent put, Simply utilization, tremendous Thank with Archrock. performance, momentum everyone. exited and XXXX was a you, the morning, profitability. good Megan, year for building and We in quarter significant
our dedicated list an want year our I to extend up of to my extensive record-breaking wrap congratulations on a for we accomplishments. As employees company,
we operating an to XX%. contract our teams customers' exit utilization to worked our demand. increase XXX by assets, sales horsepower by all-time fleet Among the excluding compression XXX,XXX high We and sharp points non-strategic meet of grew our basis the increased in around clock our fleet highlights, of
million million drove the deliver safety incident miles. year, environment busy we industry-leading consecutive over labor time zero hours and this performance, In we lost dynamic total man for incidents. despite to recorded XX exceptionally a met demand, continue we And a third recordable and X.XX. achieving X.X As this we achieved of rate market,
doubled income grew more adjusted XX% X share dividend year-over-year. EBITDA in to return compared $XXX and We step the our initiation enabled million shareholders our program. net of earnings XXXX, capital and the to a earnings us and per our This share than change than in more we to power by increases through buyback
our of dividend ratio outstanding to also leverage low X.Xx. an of drove and delivered We concurrently all-time X.Xx, coverage
built financial into will transformation well and only position From years the multiple multiple to and separation disruptions of record in expect fabrication effort markets, our contributed the to performance our we market metrics navigation high-grade of we've to not investor across future. and X XXXX, and market our XXXX operations strong of exceptionally proud of I'm at our the end the to XXXX, our steps significant but international our fleets, of transform in financial and the the technology returns XXXX, in through company. operations, benefit This successes
in XXXX an off kick We enviable position.
is quality fleet Our rate. first
We most the of in segment horsepower the highly-standardized have of infrastructure market. units a fleet stable large deployed
Our excellent. service quality is
us to processes expertise to and innovative require. customers in level our deliver our we've of technology will our the enable talent, have to to heights. service We And investments increasingly and our digitize operating the technical safety leverage platform, of high that take customer process and begun service new place the which capabilities automate to only
Our customer relationships are deep.
to reduce integral carbon midstream economy. and part a we're the We we're and The contribute on to we of their lead industry's long-term are with our by progress customers to certain critical and have efforts powering for continue a greener progressing Archrock's spanned cleaner early to results in our work field meaningfully preparing proud tests products that mission Archrock methane decades, partnerships key America. to for demonstrate and encouraged And industry expect emissions strategic and operations. an We're multiple capture for could create the in commercialization during value shareholders. XXXX. We're
compression to Turning fundamentals.
the opportunity-rich continue flows our that We and to ability an earnings experience contributes market, to cash our one to grow in future.
operational our volatility and Over in investments the and also of the the financial long should and reduce repositioning stability further processes results. technology improve and term, our
in driven several for market compression see Archrock for factors. the by and we opportunities are The
high per to First, Natural in growth XXX grew in eclipsing natural And feet new XXXX. production led gas volumes. billion forecast previous show growth markets XXXX key be that natural all-time continues of production associated growth gas set the the the a day, production. gas gas cubic U.S. In gas in to XXXX, to we record like Permian. natural track by have Archrock production continue oil-producing all
already have natural are near and natural EIA growth through a and the the sanctioned call production slate the In in global gas result to production. been LNG secular on of U.S. XXXX. term, U.S. expected forecasts gas projects sustained term, approved that Longer visible
piece second discipline move suppliers to demand. The sector. market Customers, infrastructure compression, and growing is meet across factor is are the peers needed to in Industry-wide, to balancing to and a investment returns growth current capital the additional of energy shareholders. gas critical required with heightened
created and has of backlog a visible orders. this Archrock, customer For healthy
book sold begun are new equipment a XXXX order new for building already have of out for We meaningful XXXX. build and
compression Archrock. gas capital discipline, support and returns and entire should seeing the the we're level oil increased term, Longer for for including throughout across investors the higher value chain of sector, in
third This we role have gas to intend case natural the brings And play now further strengthen the the emissions can reducing at chain. the We our for energy. point, opportunity across as to to Archrock, natural gas decarbonize to industry an part. by value increasingly critical do a me
complementary to is ventures our and advancing adjacent emissions, to core methane services. opportunities measurement new to contract are capture bring solutions compression Our team opportunities directly detection, These market. and
of these in marketing the in minimal their expected we're Currently, which make will contributions and near financial term. development investments, pilots the early phases
However, our continue meaningfully core exciting enabling growth to time efforts markets could to and to for to contribute providing thus, believe we expand the new while operations for opportunities reduce they over industry's Archrock. emissions
still days, early last despite further capture device potential by final the of methane we December. by in proprietary is the [indiscernible] believe enhanced And EPA the impact our being published the rules
we to an help operate, we, as natural emissions. social all use, with we carbon call industry, extend our reducing production reduce on answer license If believe succeed emissions and associated materially to in businesses We we gas the gas well reliable for of a source of value low billions extend of as emission natural of the dollars infrastructure affordable abundant to and come. of and generation resource as decades existing the use as our power
to segments. our on Moving
record Our business We fleet Contract firing exited with utilization XXXX cylinders. rate all XX%. of is segment a Operations on
for our For benefit The fleet sequential increases grew by marks year, expect In fourth operating quarter XX% dollars Notably, our excluding we from QX. revenue high-grading achieved basis $XXX full to as I'm million, increases this consecutive delivered up XXXX million compared This our our to approximately margin horsepower. additional quarter high in XXX of the of or during XXX,XXX a impact our say we a percentage to margin point of year's quarterly a gross full strategy. capture the we we increments into in XX% and XXXX, active the of XXXX. translated for the we horsepower increase that horsepower will year. part gross proud year year. ninth sold rate of $XXX meaningful for per monthly these
automate as term, driving especially Looking investments gains in we XXXX operating leverage our and about ahead, we and long profitability of increasingly technology our digitize platform. additional remain the capabilities ambitious to
Aftermarket solid services. activity compared higher-margin than remains Moving we demand on steady for higher fourth our work. segment. improved Profitability quality our substantially to and year higher with Full saw Services levels and XXXX we to quarter the in historical activity as meaningfully focus XXXX,
continue to levels into healthy expect We of XXXX. activity
XXXX, Shifting I'd our approach Doug to framework for first connection with review XXXX like and to walk growth. allocation year capital through call. guidance our our in plans in But to will our investment later full our capital capital allocation
committed in cash fleet. On generation free price to call, execution strategically-managed operations, XXXX in our our flow XXXX, our quarter of increases and by supported investment third we efficient earnings
prudent our priorities. a to flow with following Our and consistent free approach the XXXX capital to expectations allocation, cash budget reaffirms our returns-based and commitment
capital shareholders. increasing to returns First,
are As a Management to in Board are we increases underlying well-covered profitability and the with shareholders the maintaining driving business. committed along dividend ourselves, that our grows
share confidence buybacks creation the sequential remain our in Given as and value financial as our a XXXX. announced Archrock's sector-leading in outlook well recently another for to flexibility, dividend, quarterly increase us available tool in compression, X.X% we
needs attractive meet base Second, our These by returns. the operations investments. of will funded continuing investments build new through customer and by supported be to
an leverage maintaining third, position. and balance And sheet finally, industry-leading
way our to on fourth of performance X.Xx. shows, consistent well are we leverage As achieving ratio X quarter to
include: drivers, record two, performance, we're are three, our to strong which also These position primary summary, contributing In drivers financial transform Archrock's a our future compression; a one, allocation; the incomparable and capital sustainable for delivering robust meet market and platform; for leverage X reflecting more and for opportunity to growing and energy automated for for the prospect to cleaner the natural four, demand future. technology gas Archrock digitized, outlook.
like guidance. for year full provide to additional and turn I'd of on performance, our a our call over Doug to XXXX the and fourth With color quarter that, to review
