Usa Compression Partners, Lp · NYSE:USAC
Usa Compression Partners, Lp — Q2 2025 Earnings Presentation
14 slides from Usa Compression Partners, Lp's earnings presentation, Aug 6, 2025
Slide 1: Earnings Presentation Second Quarter 2025
Earnings Presentation Second Quarter 2025
Slide 2: Forward-Looking Statements and Disclaimer
Forward-Looking Statements and Disclaimer Forward Looking Statements This presentation contains forward-looking statements related to the operations of the Partnership that are based on management’s current expectations, estimates, and projections about its operations. You can identify many of these
Slide 3: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights Operational and Financial Results Highlights Record • Continued strong business execution Average revenue- $ per revenue- with total utilization at 94% and large generating HP generating HP horsepower at 98%2 3.55 MM $21.31 • Pricing continues at record levels 1% Y-o-Y
Slide 4: USAC is Well Positioned to Benefit from Natural Gas Demand Growth
USAC is Well Positioned to Benefit from Natural Gas Demand Growth Projected U.S. Gas Demand (bcf/d) 9 127 15 A marked increase in U.S. natural gas demand is 103 projected primarily from increased LNG exports and the electrification of everything (“EoE”) Northeast Market Leader USAC’s leading market
Slide 5: Operational and Financial Performance
Operational and Financial Performance Average Revenue-generating HP (000s) Adjusted EBITDA ($MM)1 $590 - 3,528 3,554 $584 $610 3,329 $512 $426 3,067 $299 2022 2023 2024 1H 2025 2022 2023 2024 1H 2025 2025E 2 Total Capex ($MM) DCF ($MM)1 $275 $243 $350 - $140 $355 $370 $145 $281 $40 $221 $24 $25 $32
Slide 6: History of Strong and Consistent Returns to Unitholders
History of Strong and Consistent Returns to Unitholders USAC has outperformed the S&P Value 87% Index and MLP peers over the past three 78% years on a total shareholder return basis1 70% USAC Alerian MLP ETF (AMLP) S&P 500 Value 9% 8% 7% USAC’s durable distribution provides 5% income-seeking investo
Slide 7: Appendix
Appendix 7
Slide 8: Preferred Unitholder Partial Conversions of Preferred Units
Preferred Unitholder Partial Conversions of Preferred Units • As of June 30, 2025, EIG Veteran Equity Aggregator, L.P. and FS Specialty Lending Fund (collectively “EIG”) has converted 420,000 Series A Perpetual Preferred Units (the “Preferred Units”) of the Partnership into Common Units representing
Slide 9: Illustrative Example of Potential Preferred Unit Conversions
Illustrative Example of Potential Preferred Unit Conversions Three Months Ended June 30, 2025 3 As Reported Pro Forma 4 ($ in thousands) 84% Converted 100% Assumption The potential conversion of Distributable Cash Flow ("DCF") 1 $ 89,926 $ 89,926 100% has minimal impact on Pro Forma increase upon Pr
Slide 10: Capital Structure
Capital Structure • $100MM Series A Preferred Units were converted into Common Units in June 2025 • $420MM of $500MM Series A Preferred Units have been converted into Common Units in total • Moody’s upgraded corporate and unsecured debt rating in February 2025 • No maturities until December 2026 Mat
Slide 11: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted gross margin and Adjusted EBITDA Distributable Cash Flow and Distributable Cash Flow Coverage 2025 2024 2025 2024 $ in thousands Q2 Q1 Q2 $ in thousands Q2 Q1 Q2 Total revenues $ 250,125 $ 245,234 $ 235,313 Net income $ 28,559 $ 20,512 $ 31,238 Cost of operations, e
Slide 12: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted EBITDA Distributable Cash Flow and Distributable Cash Flow Coverage Years Ended December 31, Years Ended December 31, 2024 2023 2022 $ in thousands 2024 2023 2022 Net income $ 99,575 $ 68,268 $ 30,318 Net income $ 99,575 $ 68,268 $ 30,318 Interest expense, net 193,4
Slide 13: Non-GAAP Reconciliation for Illustrative Preferred Unit Example
Non-GAAP Reconciliation for Illustrative Preferred Unit Example Three Months Ended June 30, 2025 2 As Reported Pro Forma 3 $ in thousands 84% Converted 100% Assumption Net income $ 28,559 $ 28,559 Non-cash interest expense 2,231 2,231 Depreciation and amortization 70,841 70,841 Non-cash income tax b
Slide 14: Basis of Presentation and Non-GAAP Measures
Basis of Presentation; Explanation of Non-GAAP Financial Measures This presentation includes the non-U.S. generally accepted accounting principles (“non-GAAP”) financial measures, which may include Adjusted gross margin, Adjusted EBITDA, Distributable Cash Flow, and Distributable Cash Flow Coverage
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