Archrock, Inc. (NYSE:AROC) Q1 2024 Earnings Conference Call May 1, 2024 12:00 PM ET

Company Participants

Megan Repine - VP of IR
Bradley Childers - President and CEO
Douglas Aron - CFO

Conference Call Participants

James Rollyson - Raymond James
Selman Akyol - Stifel
Josh Jayne - Daniel Energy Partners
Steve Ferazani - Sidoti

Operator

Good morning. Welcome to the Archrock First Quarter 2024 Conference Call. Your host for today's call is Megan Repine, Vice President of Investor Relations at Archrock.

I will now turn the call over to Ms. Repine. You may now begin.

Megan Repine

Thank you, Ally. Hello, everyone, and thanks for joining us today's call. With me today are Brad Childers, President and Chief Executive Officer of Archrock; and Doug Aron, Chief Financial Officer of Archrock. Yesterday, Archrock released its financial and operating results for the first quarter 2024. If you have not received a copy, you can find the information on the company's website at www.archrock.com.

During this call, we will make forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934 based on our current beliefs and expectations as well as assumptions made by and information currently available to Archrock's management team. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.

Please refer to our latest filings with the SEC for a list of factors that may cause actual results to differ materially from those in the forward-looking statements made during this call. In addition, our discussion today will reference certain non-GAAP financial measures, including adjusted EBITDA, gross margin, gross margin percentage, free cash flow, free cash flow after dividend and cash available for dividend.

For reconciliations of these non-GAAP financial measures to our GAAP financial results, please see yesterday's press release and our Form 8-K furnished with the SEC.

I'll now turn the call over to Brad to discuss Archrock's first quarter results and to provide an update of our business.

Bradley Childers

Thank you, Megan, and good morning, everyone.

With a strong first quarter in the books, 2024 looks to be a promising and exciting year. Momentum in Archrock's earnings power is carrying into 2024, reflecting our excellent operational execution, high-quality asset base and innovative processes and technology. Among the highlights, our net income of $41 million was up from $16 million in the first quarter of 2023.