USA Compression Partners, LP (NYSE:USAC) reported fourth-quarter fiscal 2023 total revenue growth of 18.4% year-over-year to $225.049 million, beating the consensus of $220.80 million.
Earnings per unit was $0.02 for the quarter, up from a loss per unit of $(0.09) in Q4 2022. Net income for the quarter included a $10.5 million loss on derivative instrument.
Adjusted gross margin was 67.5%, up 220 bps YoY. The operating income improved to $68.54 million (+46.8% Y/Y), margin expanded by 590 bps to 30.5%. Adjusted EBITDA margin expanded by 216 bps to 61.6%.
USAC's net cash provided ...
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