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Natural Gas Services Group, Inc. Reports First Quarter 2021 Financial and Operating Results Natural Gas Services Group, Inc. Midland, Texas, UNITED STATES
First Quarter 2021 Highlights
The Company continued to generate free cash flow with steady utilization
Cash balance increased 6.1% to $30.7 million in the first quarter of 2021 from $28.9 million at year end 2020 due to strong operating cash flow and reduced capital expenditures.
Utilization remained steady on both a horsepower (65.2% at March 31, 2021 vs. 65.6% at December 31, 2020) and a unit (56.5% at March 31, 2021 vs. 57.3% at December 31, 2020) basis.
Rental revenue of $15.3 million, an increase of 4.1% when compared to the fourth quarter of 2020.
Net loss of $394,000 ($0.03 loss per basic and diluted share) a reduction of $1.5 million when compared to the fourth quarter of 2020.