Exhibit 99.1

 

 

Picture 2

News Release

 

USA Compression Partners, LP

 

100 Congress Avenue, Suite 450

 

Austin, Texas 78701

 

usacompression.com

 

USA Compression Partners, LP Reports Fourth Quarter 2015 Results and Full-Year 2015 Results;

Adjusted EBITDA and Distributable Cash Flow Exceed 2015 Outlook; 

Provides 2016 Outlook

 

AUSTIN, Texas, February 10, 2016 —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 2015.

 

Fourth Quarter and Full-Year 2015 Summary Results

 

·

Revenues increased;  fourth quarter 2015 up 12.5% over fourth quarter 2014 and full-year 2015 up 22.1% over full-year 2014

·

Adjusted EBITDA increased;  fourth quarter 2015 up 14.9% over fourth quarter 2014 and full-year 2015 up 34.2% over full-year 2014

·

Distributable Cash Flow increased;  fourth quarter 2015 up 6.7% over fourth quarter 2014 and full-year 2015 up 40.6% over full-year 2014

·

Fourth quarter 2015 cash distribution of $0.525 per common unit, an increase of 2.9% over fourth quarter 2014 

·

Fleet horsepower at quarter-end 2015 increased by 10.5% over quarter-end 2014

·

Average revenue per horsepower per month for fourth quarter 2015 increased 0.9% over fourth quarter 2014

·

Distributable Cash Flow coverage of 0.99x for the fourth quarter 2015 and 1.17x for the full-year 2015

·

Cash coverage of 2.35x for the fourth quarter 2015 and 2.86x for the full-year 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended 

 

Year Ended

 

 

 

 

December 31,

 

September 30,

 

December 31,

 

December 31,

 

 

 

 

2015

 

2015

 

2014

 

2015

 

2014

 

 

Operational Data

    

 

 

    

 

 

    

 

 

 

 

 

 

 

 

 

 

Fleet Horsepower (at period end)

 

 

1,712,196

 

 

1,686,300

 

 

1,549,020

 

 

1,712,196

 

 

1,549,020

 

 

Revenue Generating Horsepower (at period end)

 

 

1,424,537

 

 

1,415,355

 

 

1,351,052

 

 

1,424,537

 

 

1,351,052

 

 

Average Revenue Generating Horsepower

 

 

1,420,060

 

 

1,423,749

 

 

1,324,983

 

 

1,408,689

 

 

1,200,851

 

 

Revenue Generating Compression Units (at period end)

 

 

2,737

 

 

2,765

 

 

2,651

 

 

2,737

 

 

2,651

 

 

Horsepower Utilization (at period end) (1)

 

 

89.2

%

 

90.4

%

 

93.6

%

 

89.2

%

 

93.6

%

 

Average Horsepower Utilization (for the period) (1)

 

 

89.5

%

 

90.2

%

 

93.3

%

 

90.5

%

 

94.0

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

68,615

 

$

70,540

 

$

60,995

 

$

270,545

 

$

221,509

 

 

Average Revenue Per Horsepower Per Month (2)

 

$

15.97

 

$

15.94

 

$

15.82

 

$

15.90

 

$

15.57

 

 

Gross Operating Margin (3)

 

$

47,285

 

$

48,621

 

$

42,105

 

$

189,006

 

$

147,474

 

 

Gross Operating Margin Percentage

 

 

68.9%

 

 

68.9%

 

 

69.0%

 

 

69.9%

 

 

66.6%

 

 

Adjusted EBITDA (3)

 

$

37,955

 

$

39,481

 

$

33,024

 

$

153,572

 

$

114,409

 

 

Adjusted EBITDA Percentage

 

 

55.3%

 

 

56.0%

 

 

54.1%

 

 

56.8%

 

 

51.6%

 

 

Distributable Cash Flow (3) (4)

 

$

28,041

 

$

32,269

 

$

26,275

 

$

120,850

 

$

85,927

 

 


The following information was filed by Usa Compression Partners, Lp (USAC) on Wednesday, February 10, 2016 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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