Kodiak Gas Services holds annual meeting, elects directors

Kodiak Gas Services , Inc. (NYSE:KGS), a $2.92 billion market cap natural gas services company with a notable 4.93% dividend yield, announced the results of its 2025 Annual Meeting of Shareholders, which took place on Tuesday. According to InvestingPro data, the company is currently trading above its Fair Value, with analysts expecting net income growth this year. The meeting saw the election of three Class II directors and the approval of the Company’s Employee Stock Purchase Plan, as well as the ratification of BDO USA, P.C. as the independent registered public accounting firm for the current fiscal year ending December 31, 2025.

The three nominees elected to the board are Alex N. Darden (NYSE:DRI), Randall J. Hogan, III, and Margaret C. Montana. The election results were substantial, with Darden receiving over 60 million votes for and Hogan and Montana each receiving over 77 million and 78 million votes for, respectively. The shareholder turnout represented approximately 93% of the total outstanding shares as of the Record Date, indicating a strong shareholder presence.

In addition to the director elections, shareholders voted in favor of adopting the Company’s Employee Stock Purchase Plan with over 79 million votes for the proposal. The plan is designed to allow employees to purchase company stock, potentially aligning their interests with those of shareholders.

The appointment of BDO USA, P.C. as Kodiak Gas Services’ independent auditor was also confirmed with an overwhelming majority, receiving over 82 million votes for the proposal.

Kodiak Gas Services, a company incorporated in Delaware and operating in the natural gas transmission industry, has its principal executive offices in The Woodlands, Texas. The company’s next earnings report is scheduled for May 7, 2025, with InvestingPro showing 8 additional key insights about the company’s financial health and market position. The information for this news article is based on a press release statement provided by the company.

In other recent news, Kodiak Gas Services reported mixed fourth-quarter 2024 results, with revenue surpassing expectations at $309.5 million, compared to the analyst consensus of $253.79 million, but earnings per share falling short at $0.21 versus the anticipated $0.34. The company noted an increase in fleet utilization to 97% and improvements in its Contract Services segment. Kodiak also provided 2025 guidance, projecting adjusted EBITDA between $685 million and $725 million, with expected growth capital expenditures ranging from $240 million to $280 million. Meanwhile, RBC Capital Markets and Stifel both maintained their positive outlooks on Kodiak, with RBC cutting its price target to $45 and Stifel holding firm at the same target, both citing confidence in the company’s growth potential. Mizuho (NYSE:MFG) Securities adjusted its price target for Kodiak to $46, maintaining an Outperform rating, reflecting a more conservative approach due to anticipated demand deceleration. Truist Securities raised its price target to $47, maintaining a Buy rating, with optimism about Kodiak’s financial prospects and stable demand. These developments highlight the varying perspectives among analysts regarding Kodiak’s future performance, with continued attention on its financial strategies and market positioning.

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