Exhibit 99.1

 

 

News Release
USA Compression Partners, LP
100 Congress Avenue, Suite 450
Austin, Texas 78701
www.usacpartners.com

 

USA Compression Partners, LP Reports Fourth Quarter and Full-Year 2014 Results;
Achieves Record Revenues, Adjusted EBITDA and Adjusted Distributable Cash Flow;

Provides 2015 Outlook

 

AUSTIN, Texas, February 17, 2015

—USA Compression Partners, LP (NYSE: USAC) (“USA Compression” or the “Partnership”), announced today its financial and operating results for the fourth quarter and full-year 2014.

 

Fourth Quarter and Full-Year 2014 Summary Results

 

·                  Record levels of revenues; fourth quarter 2014 up 25.4% over fourth quarter 2013 and full-year 2014 up 44.9% over full-year 2013

·                  Record levels of Adjusted EBITDA; fourth quarter 2014 up 29.9% over fourth quarter 2013 and full-year 2014 up 41.0% over full-year 2013

·                  Record levels of adjusted distributable cash flow; fourth quarter 2014 up 38.7% over fourth quarter 2013 and full-year 2014 up 52.9% over full-year 2013

·                  Fourth quarter 2014 quarterly cash distribution of $0.51 per common unit, an increase of 6.3% over fourth quarter 2013

·                  Fleet horsepower for fourth quarter 2014 increased by 28.8% over fourth quarter 2013

·                  Average revenue generating horsepower for fourth quarter 2014 increased 25.2% over fourth quarter 2013

·                  Adjusted distributable cash flow coverage of 1.11x for the fourth quarter 2014

·                  Cash coverage of 2.70x for fourth quarter 2014

 

 

 

Three Months Ended

 

Year Ended

 

 

 

December 31,

 

September 30,

 

December 31,

 

December 31,

 

 

 

2014

 

2014

 

2013

 

2014

 

2013

 

Operational Data

 

 

 

 

 

 

 

 

 

 

 

Fleet Horsepower at period end

 

1,549,020

 

1,452,833

 

1,202,374

 

1,549,020

 

1,202,374

 

Revenue Generating Horsepower at period end

 

1,351,052

 

1,259,387

 

1,070,457

 

1,351,052

 

1,070,457

 

Average Revenue Generating Horsepower

 

1,324,983

 

1,224,938

 

1,058,213

 

1,200,851

 

902,168

 

Revenue Generating Compression Units at period end

 

2,651

 

2,488

 

2,137

 

2,651

 

2,137

 

Horsepower Utilization at period end(1)

 

93.6

%

93.5

%

94.1

%

93.6

%

94.1

%

Average Horsepower Utilization for the period(1)

 

93.3

%

94.0

%

94.2

%

94.0

%

93.8

%

 

 

 

 

 

 

 

 

 

 

 

 

Financial Data ($ in thousands, except per horsepower data)

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

60,995

 

$

57,045

 

$

48,643

 

$

221,509

 

$

152,918

 

Average Revenue Per Horsepower Per Month(2)

 

$

15.82

 

$

15.67

 

$

15.36

 

$

15.57

 

$

14.15

 

Gross Operating Margin

 

$

42,105

 

$

37,615

 

$

33,019

 

$

147,474

 

$

104,821

 

Gross Operating Margin Percentage

 

69.0

%

65.9

%

67.9

%

66.6

%

68.5

%

Adjusted EBITDA

 

$

33,024

 

$

29,327

 

$

25,413

 

$

114,409

 

$

81,130

 

Adjusted EBITDA Percentage

 

54.1

%

51.4

%

52.2

%

51.6

%

53.1

%

Adjusted Distributable Cash Flow

 

$

26,275

 

$

22,955

 

$

18,943

 

$

85,927

 

$

56,210

 

 


The following information was filed by Usa Compression Partners, Lp (USAC) on Tuesday, February 17, 2015 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.

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