Archrock, Inc. · NYSE:AROC
Archrock — Q4 2025 Earnings Presentation
51 slides from Archrock's earnings presentation, Feb 25, 2026
Slide 1: Archrock Investor Handout February 2026
ARCHROCK, INC. Investor Handout February 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements All statements in this release (and oral statements made regarding the subjects of this release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statement
Slide 3: Archrock – Company Overview
Archrock – Company Overview Returns oriented energy infrastructure company ▪ Natural gas compression company based in Houston, Texas • NYSE: AROC ▪ A premier outsourced compression provider in U.S.(1) • Market Cap: $5.7 billion(2) ▪ Compression is a must-run service for gas transportation • Enterpri
Slide 4: An Attractive Energy Infrastructure Investment
An Attractive Energy Infrastructure Investment Archrock Investment Highlights • Midstream gathering and gas lift applications; a premier provider of Large HP / Electric Motor Drive large HP, 74% of fleet(1) and electric motor drive, 19% of fleet(1) Focus • Compression is a must-run service for gas p
Slide 5: Record 2025 Performance and Strong 2026 Outlook
Record 2025 Performance and Strong 2026 Outlook Significant value drivers ▪ Robust Market For Compression. 11 consecutive quarters above 95% utilization(1 ▪ Capturing Growth Ahead. Expect between $250 - $275MM in growth capex for 2026, underpinned by multi-year contracts. ▪ Transformed Platform. Hig
Slide 6: Financial Performance – 2025 vs. 2025 Full Year Guidance
Financial Performance – 2025 vs. 2025 Full Year Guidance Full Year 2025 Adjusted EBITDA Exceeds Guidance Midpoint Even After Adjusting for Discrete Q4 Items Adjusted EBITDA¹ $ in millions $23 Guidance Range² $32 $835M - $850M $901 $846 2025 reported adjusted EBITDA¹ Q425 prior period sales and use Q
Slide 7: Financial Performance – 2025 vs. 2026 Full Year Guidance
Financial Performance – 2025 vs. 2026 Full Year Guidance Improvement in contract operations and SG&A offset by 2025 discrete items Adjusted EBITDA¹ $ in millions $6 $47 $33 $86 $901 $890 $18 $4 $884.6 2025 reported adjusted 2025 gain on sale of Prior period sales and Estimated reduction of Aftermark
Slide 8: Solid Profitability Through Cycles
Solid Profitability Through Cycles A resilient business model tied to production, not commodity prices Adjusted EBITDA margin (%)(1)(2) Oil Gas $/bbl 38% 41% 35% 39% 43% 47% 46% 43% 45% 51% 60% 67% $/MMBtu $140 $10 ▪ Track record of generating 901 890 $9 attractive EBITDA margins $120 $8 ▪ Financial
Slide 9: 2026 Free Cash Flow Inflection Provides Capital Allocation Flexibility
2026 Free Cash Flow Inflection Provides Capital Allocation Flexibility Prioritizing growth opportunities 1 • 2026 estimated growth capital expenditures of $250-$275 million ~$250-$275 MM • New build horsepower investment underpinned by long-term Capital 2026E contracts with high-quality customers an
Slide 10: Operations
OPERATIONS ARCHROCK, INC. (NYSE:AROC)
Slide 11: Premier Provider of Outsourced Compression
Premier Provider of Outsourced Compression Compression increases pressure within a pipeline to transport natural gas A Must-Run Service ▪ Equipment that moves natural gas through infrastructure Benefits to customer of outsourcing systems to consuming markets ▪ Compression also used to provide enhanc
Slide 12: Archrock's Focus on Midstream
Archrock’s Focus on Midstream Our midstream focus results in greater stability 60% of Operating HP on Gathering Applications(1) Characteristic The Midstream Benefit The Result to Archrock Production Focused Relatively stable compression demand • Utilization range between 82% and 96%(2) Longer Contra
Slide 13: Diverse, Scalable Footprint
Diverse, Scalable Footprint Meaningful presence in every major shale play ▪ Regional diversification provides protection against basin-specific headwinds ▪ Positioned in low-cost basins ▪ Permian and Eagle Ford represent ~76% of operating HP(1) ▪ Driving strong demand for our horsepower, even in a l
Slide 14: A Leader in U.S. Natural Gas Compression
A Leader in U.S. Natural Gas Compression Leading contract compression position supplemented by AMS capabilities Total Compression Outsourced Owned Market ~30% of market ~70% of market Contract Operations(1) Aftermarket Services (AMS) 0 1,000 2,000 3,000 4,000 5,000 AROC 4,571 Category 2 4,409 KG S 4
Slide 15: Contract Operations Customer Base
Contract Operations Customer Base Strong relationships with top-tier energy companies Revenue ~58% Top 10 Customers Diversification % of revenue from top 10 customers(1) Long-term >20 years Relationships Avg. relationship length with top 10 customers(2) High Quality 9 of 10 Top 10 customers with Par
Slide 16: Franchise Transformation Delivering Results
Franchise Transformation Delivering Results Multi-year high-grading of our fleet, talent, customers and technology Horsepower per Unit(1) Fleet Age (Years)(2) 1,000 13 900 +71% 12 -16% 800 11 700 10 600 500 9 400 8 2017 2025 2017 2025 Compressor Units Contract Operations Adjusted Gross Margin %(3) 8
Slide 17: Franchise Transformation - Time on Location
Franchise Transformation - Time on Location Active fleet management increases average time on location ▪ Average time on location has increased 61% since 2021 to 73 Average Time on Location (months)(1) months ▪ Fleet standardization, including 97 61% divestiture of small HP units 77 73 ▪ Improved co
Slide 18: Fundamentals
FUNDAMENTALS ARCHROCK, INC. (NYSE:AROC)
Slide 19: Industry Fundamentals Support Multi-Year Upcycle
Industry Fundamentals Support Multi-Year Upcycle Strong U.S. natural gas volumes and record compression market tightness U.S. Dry Natural Gas Production and AROC Utilization (1) 130 100% 95.5% Forecast 93% 120 90% Durable Natural Gas Fundamentals 110 11% U.S. gas production growth 2025-2030(1) AROC
Slide 20: Key Natural Gas Demand Drivers
Key Natural Gas Demand Drivers Robust medium- and long-term demand drivers led by natural gas export opportunities U.S. Natural Gas Demand Growth (1) 140.0 LNG Exports 135.0 13.3 134.5 130.0 Power Gen for AI Data Centers 125.0 1.1 4.8 Bcf/d 120.0 115.3 Pipeline Exports 115.0 110.0 105.0 Industrial 1
Slide 21: Gas Growth Follows Oil Peaks in Mature Oil Basins
Gas Growth Follows Oil Peaks in Mature Oil Basins Historical trends show gas production continues to grow even after oil production peaks 8.00 Eagle Ford Production(1) 2.00 4.00 Bakken Production(1) 2.00 3.50 6.00 1.50 3.00 1.50 2.50 MMb/d MMb/d Bcf/d Bcf/d 4.00 1.00 2.00 1.00 1.50 Oil Change After
Slide 22: The Permian is Getting Gassier
The Permian is Getting Gassier Oil output is plateauing while gas growth accelerates, GOR trends show a shift toward gas heavy wells Permian Production(1) 8.00 40.00 7.00 Permian Production BOE/d(1) 35.00 6.00 30.00 2014 2030 5.00 25.00 MMb/d Bcf/d 4.00 20.00 15.00 3.00 35% Oil Growth 52% 48% 10.00
Slide 23: Financials
FINANCIALS ARCHROCK, INC. (NYSE:AROC)
Slide 24: Growing and Well-Covered Dividend
Growing and Well-Covered Dividend 49 consecutive quarters of cash dividends Recent Dividends per Share Declared(1) Cash Available for Dividend Coverage(2) 4.0x $0.88 $0.83 3.1x 3.0x 2.9x 2.8x $0.70 2.4x 2.2x $0.63 1.9x $0.58 $0.58 $0.58 $0.57 $0.50 $0.48 1.14x 2017 2018 2019 2020 2021 2022 2023 2024
Slide 25: Solid Balance Sheet Position
Solid Balance Sheet Position Low leverage and no near-term debt maturities Balance Sheet & Funding Overview Debt Maturity Schedule(1)(2) ($MM) A Revolving credit facility due 2028 A ▪ No near-term debt maturities B 6.25% senior notes due 2028 130 D ▪ Q4 25 leverage ratio of 2.7x C 6.625% senior note
Slide 26: Optimized Balance Sheet
Optimized Balance Sheet Current leverage ratio at 2.7x, leaving flexibility and capacity for growth ▪ Long-term leverage ratio target of 3.0x – 3.5x 5.2x 5.0x 4.9x 4.7x 4.3x 4.3x4.5x 4.4x4.4x4.4x 4.4x 4.4x 4.3x 4.3x 4.3x 4.2x 4.2x4.1x 4.2x 4.1x4.1x4.0x 4.1x 3.8x 3.5x 3.6x 3.2x 3.2x 3.3x3.2x3.3x 3.1x
Slide 27: Sustainability and New Ventures
SUSTAINABILITY AND NEW VENTURES ARCHROCK, INC. (NYSE:AROC)
Slide 28: New Ventures Summary
New Ventures Summary Investments in emerging emissions management technologies CHALLENGE TECHNOLOGY SOLUTION INVESTMENT 1. Methane leaks Methane detection, Equity investment in ECOTEC monitoring and measurement 2. Methane from blowdowns Methane capture CARBON HAWK Proprietary, and rod packings paten
Slide 29: Investment in ECOTEC
Investment in ECOTEC Methane emissions management investment and partnership ▪ Own a 25% equity stake in Ecotec International Holdings, LLC (ECOTEC), a global leader in methane emissions monitoring and management ▪ Proven technology and emissions detection history with natural gas, utility, landfill
Slide 30: Carbon Hawk: Proprietary Methane Capture
Carbon Hawk: Proprietary Methane Capture Successful field pilot of patented technology ▪ Archrock New Ventures Team developed Carbon Hawk technology that captures rod packing and blowdown emissions ▪ Carbon Hawk solution meets requirements of a closed vent system, making it compliant with the EPA’s
Slide 31: Archrock Carbon Capture Partnership with Ionada
Archrock Carbon Capture Partnership with Ionada Scalable and cost-efficient technology ▪ Archrock served as a lead investor in a Series A financing round for Ionada PLC, a global carbon capture technology company ▪ Ionada has developed a post-combustion carbon capture solution ▪ Designed and enginee
Slide 32: Archrock and MaCH4 NGL Recovery
Archrock and MaCH4 NGL Recovery Proven gas separation solution for compressor engine fuel gas and NGL recovery ▪ Archrock entered into a limited liability agreement with FGC Holdco, a subsidiary of ColdStream Energy Holdings, LLC, to develop and commercialize the MaCH4 Natural Gas Liquids (NGL) reco
Slide 33: Key Takeaways
Key Takeaways We are a premier U.S. natural gas compression provider Large HP / Structural, Electric Motor Resilience Long-Term Solid Financial Sustainable Drive Focus Through Cycles Demand Drivers Position Future 33 ARCHROCK, INC. (NYSE:AROC)
Slide 34: Appendix
APPENDIX ARCHROCK, INC. (NYSE:AROC)
Slide 35: Our Rich Company Legacy
Our Rich Company Legacy Successful 70-year company history with proven success over time South Coast Gas 1950s 1990 – 2006 2007 – 2014 2015 – Current ▪ South Coast Gas Compression ▪ Acquisitions: ▪ Merger of Hanover Compression ▪ Spin-off of Exterran’s International established – legacy entity of an
Slide 36: Aftermarket Services Capabilities
Aftermarket Services Capabilities Solid opportunities to service customer-owned compressors ▪ Ability to serve the entire U.S. compression market ▪ Margin contribution from customers with their own compression solutions ▪ Minimal capital requirements, enhancing overall returns ▪ Leverages existing i
Slide 37: Attractive Dividend Profile
Attractive Dividend Profile Compelling dividend yield Dividend/Distribution Yield(1) 7% 4% 3% 3% 1% S&P 500 XLU Utilities Index AROC AMNA Midstream AMZ Midstream Index MLP Index (1) Based on Bloomberg data as of February 13, 2026. Archrock yield includes most recently announced quarterly dividend, a
Slide 38: Financial & Operational Stability
Financial & Operational Stability Maintaining strong profitability and fleet utilization Revenue ($MM) Adjusted Gross Margin(1)% Contract Operations Aftermarket Services Contract Operations AMS Total 65 56 50 78% 47 70%70%70% 73% 40 65% 63%63% 61% 62% 61% 64%64% 65%65% 67% 47 59% 58%58%58% 62% 47 45
Slide 39: Best in Class Safety Record
Best in Class Safety Record Safety culture reflected in excellent performance ▪ Target Zero is foundation of internal HSE program, which reports directly to CEO and reports quarterly safety results to board of directors ▪ Member of ISNetworld® ▪ TRIR of 0.22 in 2025, ahead of 0.50 target ▪ GPS monit
Slide 40: Committed to Helping Customers Reduce Emissions
Committed to Helping Customers Reduce Emissions Leveraging the strength of our core compression franchise as we invest in emissions reduction Improved Compression Engine Emissions Efficiency ▪ Focus on large horsepower ▪ Establishing leadership in electric motor-drive compression ▪ Divesting older,
Slide 41: Management Overview
Management Overview Highly qualified and experienced management team D. Bradley Childers, President and Chief Executive Officer Brad Childers is President, Chief Executive Officer and a director of Archrock. Previously, he served as Chairman of the Board of Archrock GP LLC, the managing general part
Slide 42: Management Overview Cont.
Management Overview Cont. Highly qualified and experienced management team Jason G. Ingersoll, Senior Vice President, Sales and Operations Support Jason Ingersoll is Senior Vice President, Sales and Operations Support of Archrock, where he is responsible for sales teams and processes, including dire
Slide 43: Archrock Addendum I-A
Archrock Addendum I-A Archrock, Inc. Adjusted EBITDA, a non-GAAP measure, is defined as net income (loss) excluding interest expense, provision for income taxes, depreciation and amortization, long-lived and other asset impairment, unrealized change in fair value of investment in unconsolidated affi
Slide 44: AROC Addendum I-B
AROC Addendum I-B Revenue, Cost of Sales, Gross Margin and Adjusted Gross Margin ($ in thousands) 2017 2018 Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 Q1-21 Q2-21 Q3-21 Q4-21 2021 Q1-22 Q2-22 Q3-22 Q4-22 2022 Q1-23 Q2-23 Q3-23 Q4-23 2023 Q1-24 Q2-24 Q3-24 Q4-24 2024 Q1-25 Q2-25 Q3-25
Slide 45: AROC Addendum I-C
AROC Addendum I-C Reconciliation of Net Income (Loss) to Adjusted Gross Margin (in thousands) Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3
Slide 46: AROC Addendum I-D
AROC Addendum I-D Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin ($ in thousands) Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net income (los
Slide 47: AROC Addendum I-E
AROC Addendum I-E Reconciliation of Net Income (Loss) to Adjusted EBITDA and Adjusted EBITDA Margin ($ in thousands) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net income (loss) ($355,308) ($37,696) $126,606 $88,661 ($125,697) ($65,243) $18,410 $29,160 $97,330 ($68,44
Slide 48: AROC Addendum I-F
AROC Addendum I-F Reconciliation of Net Income (Loss) to Adjusted EBITDA and Cash Available for Dividend and Cash Available for Dividend Coverage ($ in thousands) Q1-18 Q2-18 Q3-18 Q4-18 2018 Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 Q1-21 Q2-21 Q3-21 Q4-21 2021 Q1-22 Q2-22 Q3-22 Q4-
Slide 49: AROC Addendum I-F (cont.)
AROC Addendum I-F (cont.) Reconciliation of Net Cash Provided by Operating Activities to Cash Available for Dividend ($ in thousands) Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 Q1-21 Q2-21 Q3-21 Q4-21 2021 Q1-22 Q2-22 Q3-22 Q4-22 2022 Q1-23 Q2-23 Q3-23 Q4-23 2023 Q1-24 Q2-24 Q3-24 Q4-
Slide 50: Archrock Addendum I-G
Archrock Addendum I-G Reconciliation of Net Income to Adjusted EBITDA and Cash Available for Dividend Guidance $ in thousands Full-Year 2026 Guidance (1) Low High Net income (2) $306,000 $356,000 Depreciation and amortization 281,000 281,000 Interest expense 145,000 145,000 Stock-based compensation
Slide 51: Contact Us
CONTACT US Investor Relations Megan Repine, VP of Investor Relations (281) 836-8360 investor.relations@archrock.com www.archrock.com/aroc Corporate Headquarters 9807 Katy Freeway Suite 100 Houston, TX 77024 ARCHROCK, INC. (NYSE:AROC)