Why Kodiak Gas Services Stock Wasn't Catching Fire This Week
Kodiak Gas Services (NYSE: KGS) wasn't exactly having a week for the ages on the stock exchange. The company's shares slumped in the wake of a quarterly earnings report that many investors found discouraging. As of early Friday morning, according to data compiled by S&P Global Market Intelligence, the specialty equipment company's stock had lost nearly 9% of its value week to date.
Kodiak's second quarter had quite the split personality. Revenue soared 52% higher on a year-over-year basis to nearly $310 million. Net income went harder in the opposite direction, however, sliding by a steep 62% to hit $6.7 million ($0.06 per share) according to GAAP standards.
While the top-line figure far exceeded the average analyst estimate of $223 million, that net income number didn't come close to the consensus $0.34 per share.
Source Fool.com
