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Close of Nov 06, 2026 · end-of-day data
KGS 8-K filings, explained
Every material Form 8-K Kodiak Gas Services has filed with the SEC since November 06, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Kodiak Gas Services (NYSE: KGS) declared a cash dividend of $0.51 per share for the third quarter of 2026, payable November 25, 2026 to holders of record on November 16, 2026. The dividend is 4.1% above both the prior quarter and the year-ago quarter, which adds to shareholder cash returns.
Dividend of $0.51 per share, payable November 25, 2026
Record date is the close of business on November 16, 2026
Dividend is up 4.1% from the prior quarter and the year-ago quarter
Quarterly dividend is up approximately 34% since the 2023 initiation at $0.38 per share
Kodiak Gas Services reported second-quarter 2026 total revenues of $391.1 million, up from $322.8 million a year earlier, and net income attributable to common shareholders of $52.0 million, or $0.53 per diluted share, compared with $39.5 million, or $0.43, in the second quarter of 2025. The company raised its full-year 2026 Adjusted EBITDA guidance to $830 million to $860 million and its discretionary cash flow guidance to $570 million to $600 million.
Q2 2026 total revenues of $391.1 million and Adjusted EBITDA of $216.8 million, a 21.7% increase over second quarter 2025
Net income attributable to common shareholders of $52.0 million, or $0.53 per diluted share, including $3.3 million of nonrecurring transaction expenses tied to the DPS acquisition
Full-year 2026 guidance: Adjusted EBITDA of $830 million to $860 million; the midpoint of Power Infrastructure growth capital expenditures was reduced
Free cash flow was negative $87.5 million in the quarter, compared with $37.0 million in the first quarter of 2026
Kodiak reported first-quarter 2026 total revenue of $345.8 million, up from $329.6 million a year earlier, while net income attributable to common shareholders fell to $17.8 million, or $0.20 per diluted share, from $0.33 in the first quarter of 2025. The GAAP result included a $36.5 million loss on extinguishment of debt. The company raised full-year 2026 adjusted EBITDA guidance to $820 million to $860 million to include the Distributed Power Solutions (DPS) acquisition, which closed April 1, 2026.
Total revenues of $345.8 million versus $329.6 million in Q1 2025; Contract Services revenue was a record $307.0 million.
Adjusted net income of $52.0 million, or $0.59 per adjusted diluted share, versus $0.35 in Q1 2025; adjusted EBITDA of $190.1 million.
2026 adjusted EBITDA guidance raised to $820 million to $860 million, incorporating three quarters of DPS.
Total debt was $2.8 billion at March 31, 2026, and the quarter included a $36.5 million loss on extinguishment of debt.
Kodiak Gas Services completed its acquisition of Distributed Power Solutions, LLC (DPS) on April 1, 2026, paying $587 million in cash and issuing about 2.4 million shares of common stock. The company says the deal adds about 395 megawatts of generation capacity and expands Kodiak beyond contract compression into distributed power, and it expects the acquisition to be immediately accretive to earnings and discretionary cash flow per share.
Cash consideration of $587 million, including adjustments for additional power generation assets, indebtedness and working capital
Issued an aggregate of 2,401,278 shares of common stock to the sellers, Mustang PRS, LLC and Louisiana Machinery Company, L.L.C.
Acquired business rebranded as Kodiak Power Solutions; adds about 395 megawatts of generation capacity
Kodiak entered a registration rights agreement with the sellers covering resale of the shares they received
Kodiak Gas Services, Inc. disclosed that its subsidiary Kodiak Gas Services, LLC issued $1,000,000,000 of 5.875% senior unsecured notes due April 1, 2031, under an indenture dated March 20, 2026. The parent company and certain subsidiaries guarantee the notes, which adds long-term debt that shareholders should weigh against the company's existing obligations.
Notes issued March 20, 2026 with $1,000,000,000 aggregate principal and a 5.875% coupon, maturing April 1, 2031.
Interest is paid semi-annually on April 1 and October 1, beginning October 1, 2026.
Issuer may redeem before April 1, 2028 at a make-whole premium, and from April 1, 2028 at 102.938% declining to 100.000% in 2030.
Indenture limits distributions, additional debt, asset sales and mergers, and includes a 101% change-of-control repurchase offer if ratings are downgraded.
Kodiak Gas Services announced the launch of a $750 million private offering of senior unsecured notes due 2031, with proceeds to redeem its 7.25% notes due 2029 and partly fund its planned $675 million purchase of Distributed Power Solutions. The filing also includes DPS's 2025 audited financials and Kodiak's pro forma combined results, and notes the acquisition is expected to close in early April 2026 subject to conditions and regulatory approvals.
Offering size is $750 million of senior unsecured notes due 2031, launched March 11, 2026.
Redemption of 7.25% Senior Notes due 2029 at 103.625% of the $750,000,000 principal, plus accrued interest.
DPS purchase price is $675 million: $575 million in cash plus 2,401,278 Kodiak shares, subject to adjustment.
DPS reported 2025 revenue of $93,017,559 and net income of $15,435,258; the deal is expected to close in early April 2026.
Kodiak Gas Services reported fourth-quarter 2025 net income attributable to common shareholders of $24.6 million, or $0.28 per diluted share, up from $19.1 million in the fourth quarter of 2024, on revenue of $332.9 million versus $309.5 million a year earlier. The company also gave initial 2026 guidance of $750 million to $780 million in adjusted EBITDA, which excludes its pending $675 million acquisition of Distributed Power Solutions, LLC, expected to close in early April 2026.
Q4 2025 net income attributable to common shareholders was $24.6 million, or $0.28 per diluted share, versus $19.1 million in Q4 2024
Q4 2025 total revenues were $332.9 million, up from $309.5 million in Q4 2024; adjusted EBITDA was $184.5 million
2026 guidance: adjusted EBITDA of $750 million to $780 million and discretionary cash flow of $480 million to $510 million, excluding the pending acquisition
Distributed Power Solutions deal valued at approximately $675 million, expected to close in early April 2026; guidance to be updated after closing
Kodiak Gas Services agreed to buy Distributed Power Solutions, LLC for about $675 million, paid as $575 million in cash plus 2,401,278 new shares of Kodiak common stock valued at about $100 million. The company expects the deal to close in early April 2026, subject to regulatory approvals, and says it will be immediately accretive to earnings and discretionary cash flow per share. Shareholders would face dilution from the new shares and the deal depends on closing conditions and approvals.
Cash consideration of $575 million at closing, plus 2,401,278 shares of common stock valued at about $100 million
Expected closing in early April 2026, subject to Hart-Scott-Rodino waiting periods and other customary conditions
Outside Date of May 31, 2026; buyer may owe a $37.125 million termination fee in certain cases where sellers terminate for buyer breach
Sellers agreed to a 180-day lock-up on the Kodiak shares received, with exceptions for certain transfers
Kodiak Gas Services reported a third-quarter 2025 net loss attributable to common shareholders of $14.0 million, or $0.17 per diluted share, compared with net income of $39.5 million in the second quarter. The loss included a $33.3 million loss on disposal of its Mexico operations and a $28.0 million sales and use tax reserve, while adjusted net income was $31.5 million, or $0.36 per adjusted diluted share. The company raised its full-year 2025 discretionary cash flow guidance to $450 million to $470 million and kept its other guidance metrics unchanged.
Q3 2025 total revenues were $322.7 million, compared with $324.6 million in Q3 2024.
Net loss of $14.0 million included a $33.3 million loss on the Mexico disposal and a $28.0 million sales tax reserve increase.
Discretionary cash flow was $116.7 million, up 13.2% from Q3 2024.
Full-year 2025 discretionary cash flow guidance was raised to $450 million to $470 million; the company also declared a quarterly dividend of $0.49 per share.
On September 22, 2025, Kodiak Gas Services' subsidiary Kodiak Gas Services, LLC completed a private offering of $200 million in additional senior unsecured notes, adding $170 million to its 6.500% notes due 2033 and $30 million to its 6.750% notes due 2035. The notes are additional issuances under an existing indenture and add to debt that the company will owe. The filing does not disclose the use of proceeds or the offering price.
Additional 2033 Notes: $170 million at 6.500%, maturing October 1, 2033
Additional 2035 Notes: $30 million at 6.750%, maturing October 1, 2035
Interest is payable semi-annually on April 1 and October 1, starting April 1, 2026
Notes are senior unsecured and guaranteed by Kodiak Gas Services, Inc. and certain subsidiaries
Kodiak Gas Services, Inc. (KGS) subsidiary Kodiak Gas Services, LLC issued $600 million of 6.500% senior unsecured notes due 2033 and $600 million of 6.750% notes due 2035 on September 5, 2025. The company also amended its asset-based loan facility, reducing its commitments to $2.0 billion and extending maturity to September 5, 2030, which adds significant new debt to the company's obligations.
Two note issues totaling $1.2 billion: $600 million at 6.500% due October 1, 2033 and $600 million at 6.750% due October 1, 2035
Interest is payable semi-annually on April 1 and October 1, beginning April 1, 2026
ABL facility commitments reduced to $2.0 billion, with maturity extended to September 5, 2030
Change of control provisions allow holders to require repurchase at 101% of principal if a rating downgrade follows
Kodiak Gas Services appointed William L. Bullock, Jr., former ConocoPhillips CFO, to its board effective September 2, 2025, replacing Nirav Shah, who resigned effective August 27, 2025. The company said Shah's resignation reflects reduced control by EQT, not a disagreement, and the board stays at nine members. The change is administrative and does not alter reported financial results.
Nirav Shah resigned from the board effective August 27, 2025; the company said there was no disagreement.
William L. Bullock, Jr. joins the board effective September 2, 2025 and sits on the Audit & Risk and Personnel & Compensation committees.
Bullock receives a prorated share of a $150,000 annual non-employee restricted stock unit award.
The board will continue to consist of nine directors.
Kodiak Gas Services reported second-quarter 2025 net income attributable to common shareholders of $39.5 million, up from $6.2 million a year earlier, with diluted EPS of $0.43. The company raised the low end of its full-year 2025 adjusted EBITDA guidance by $5 million and increased its share repurchase program by $100 million, with $115.0 million now available for repurchases.
Q2 2025 net income attributable to common shareholders was $39.5 million, versus $6.2 million in Q2 2024; diluted EPS was $0.43
Quarterly adjusted EBITDA was $178.2 million, up 15.5% from Q2 2024
Full-year 2025 adjusted EBITDA guidance is now $700 million to $725 million, with the low end raised $5 million
Share repurchase program increased by $100 million and extended to December 31, 2026; $115.0 million is available
Kodiak Gas Services reported first-quarter 2025 revenue of $329.6 million and net income attributable to common shareholders of $30.4 million, both up from the fourth quarter of 2024. The company raised its full-year 2025 adjusted EBITDA guidance and increased its quarterly dividend by 10%, which benefits shareholders through higher expected cash generation and capital returns. Diluted EPS of $0.33 was below the $0.39 reported a year earlier.
Total revenues were $329.6 million, up from $309.5 million in the fourth quarter of 2024 and $215.5 million in the first quarter of 2024.
Net income attributable to common shareholders was $30.4 million; diluted EPS was $0.33, versus $0.21 in the prior quarter and $0.39 a year earlier.
Full-year 2025 adjusted EBITDA guidance was raised to $695 million to $725 million, a $10 million increase to the low end of the range.
The quarterly dividend was raised 10% to $0.45 per share, and about $10 million of common stock was repurchased at an average price of $36.87.
Kodiak Gas Services reported fourth-quarter 2024 net income attributable to common shareholders of $19.1 million, compared with a net loss of $6.9 million a year earlier, and full-year net income of $49.9 million versus $20.1 million in 2023. The company also issued 2025 guidance, including adjusted EBITDA of $685 million to $725 million, which gives shareholders a first benchmark for the coming year.
Q4 2024 total revenues were $309.5 million, up from $226.0 million in Q4 2023 but down from $324.6 million in Q3 2024.
Full-year 2024 adjusted EBITDA was $609.6 million, compared with $438.1 million in 2023.
2025 guidance: adjusted EBITDA of $685 million to $725 million and growth capital expenditures of $240 million to $280 million.
The company repurchased 1.4 million shares in 2024 at a weighted average price of $27.88 and reported $322.5 million available on its ABL Facility.
Kodiak Gas Services reported third-quarter 2024 revenue of $324.6 million, up from $231.0 million a year earlier, and record quarterly Adjusted EBITDA of $168.4 million. The company posted a net loss of $6.2 million, compared with net income of $21.8 million in the prior-year quarter, after a $9.9 million impairment, a $10.4 million loss on asset sales and a $20.3 million non-cash hedge loss. It also raised the low end of its full-year 2024 Adjusted EBITDA guidance and gave an early 2025 Adjusted EBITDA outlook of $675 million to $725 million.
Total revenues were $324.6 million for the quarter ended September 30, 2024, versus $231.0 million in the year-earlier quarter.
Net loss was $6.2 million, versus net income of $21.8 million a year earlier, including a $20.3 million non-cash, mark-to-market loss on interest rate hedges.
Full-year 2024 Adjusted EBITDA guidance is now $600 million to $610 million, a $10 million increase to the low end.
Early 2025 Adjusted EBITDA outlook is $675 million to $725 million; the company repurchased one million shares for $25 million in the quarter.
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Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Kodiak Gas Services filing is on SEC EDGAR ↗. 8-K briefs of other companies →