CSI Compressco LP Announces Third Quarter 2020 Results

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Go back to CSI Compressco LP Announces Third Quarter 2020 Results

CSI Compressco LP (CCLP) Tops Q3 EPS by 8c, Revenues Beat

November 2, 2020 7:37 AM EST

CSI Compressco LP (NASDAQ: CCLP) reported Q3 EPS of ($0.25), $0.08 better than the analyst estimate of ($0.33). Revenue for the quarter came in at $79.16 million versus the consensus estimate of $77.51 million.

Brady Murphy, President of CSI Compressco commented, "Despite the industry macro environment with another 36% sequential decline in drilling rigs in the U.S., our business continues to perform very well. Excluding New Equipment Sales, which we are exiting, revenue decreased 1% to $72.3 million in the third quarter of 2020. Adjusted EBITDA improved by $722,000 and Adjusted EBITDA margins improved by... More