usaclogo1.jpg
Exhibit 99.1
News Release
USA Compression Partners, LP
111 Congress Avenue, Suite 2400
Austin, Texas 78701
usacompression.com
USA Compression Partners, LP Reports Fourth Quarter 2020 Results; Provides 2021 Outlook
AUSTIN, Texas, February 16, 2021
— USA Compression Partners, LP (NYSE: USAC) (“USA Compression” or the “Partnership”) announced today its financial and operating results for the fourth quarter 2020.
Fourth Quarter 2020 Highlights
Total revenues were $158.4 million for the fourth quarter 2020, compared to $178.2 million for the fourth quarter 2019.
Net loss was $1.5 million for the fourth quarter 2020, compared to net income of $9.3 million for the fourth quarter 2019.
Net cash provided by operating activities was $97.5 million for the fourth quarter 2020, compared to $91.7 million for the fourth quarter 2019.
Adjusted EBITDA was $98.3 million for the fourth quarter 2020, compared to $109.2 million for the fourth quarter 2019.
Distributable Cash Flow was $50.5 million for the fourth quarter 2020, compared to $58.0 million for the fourth quarter 2019.
Announced cash distribution of $0.525 per common unit for the fourth quarter 2020, consistent with the fourth quarter 2019.
Distributable Cash Flow Coverage was 0.99x for the fourth quarter 2020, compared to 1.14x for the fourth quarter 2019.
“USA Compression wrapped up 2020 with a fourth quarter that reflected very modest quarter-over-quarter declines in utilization and revenue, demonstrating a level of operational stability that would have been hard to imagine nine months ago,” commented Eric D. Long, USA Compression’s President and Chief Executive Officer. “While we continued to see some impact of the ongoing industry softness in certain operating regions, at the same time, other regions performed well and helped balance out our overall business.”
He continued, “The broader natural gas market finished the year on a positive note, with natural gas prices having their best quarter of the year in the fourth quarter. And with the EIA estimating that 2020 dry natural gas production was down a mere 1.9% from 2019’s level, the continued robust demand and production numbers point to the importance of natural gas as a fuel and a raw feedstock for a wide array of products that consumers demand. Given the vast natural gas infrastructure and abundance of supply, we believe that natural gas will remain an important part of this country’s energy landscape.”
“During the quarter, we continued to focus on controlling expenses, resulting in operating margins in line with our historical levels. Our capital spending for the quarter was further reduced from previous quarters, and for the year came in meaningfully below initial expectations. Looking ahead to 2021, we have no new units on order, exercising capital discipline in a still-uncertain marketplace. While the exact timing and duration of a recovery is still unknown, we expect to power through by continuing to focus on operational excellence and customer-focused service.”
Expansion capital expenditures were $10.9 million, maintenance capital expenditures were $5.4 million and cash interest expense, net was $30.0 million for the fourth quarter 2020.
On January 14, 2021, the Partnership announced a fourth quarter cash distribution of $0.525 per common unit, which corresponds to an annualized distribution rate of $2.10 per common unit. The distribution was paid on February 5, 2021 to common unitholders of record as of the close of business on January 25, 2021.
1

The following information was filed by Usa Compression Partners, Lp (USAC) on Tuesday, February 16, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Usa Compression Partners, Lp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Usa Compression Partners, Lp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account