Archrock reported $370.81 million in revenue for Q3 2026.

Cover page 2 changes

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For the quarterly period ended June September 30, 2026

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Number of shares of the common stock of the registrant outstanding as of July 29, October 27, 2026: 175,338,185 175,354,040 shares.

Financial statements 23 changes

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Accounts receivable, net of allowance of $ 777 and $ 1,205 in each period , respectively

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Commitments and contingencies (Note 10) 11)

1 unchanged paragraph

Common stock: $ 0.01 par value per share, 250,000,000 shares authorized, 184,982,818 185,182,119 and 184,746,759 shares issued, respectively

1 unchanged paragraph

Treasury stock: 9,765,857 9,831,608 and 9,877,754 common shares, at cost, respectively ( 126,994 129,111 )

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Other (income) expense, net

9 unchanged paragraphs

Balance at March 31, 2025

Balance at June 30, 2025

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Cash dividends ($ 0.190 0.210 per common share)

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Shares issued for NGCS Acquisition

Balance at March 31, 2026

Balance at June September 30, 2025

Balance at June 30, 2026

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Cash dividends ($ 0.220 0.230 per common share)

2 unchanged paragraphs

Balance at June September 30, 2026

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Cash dividends ($ 0.380 0.590 per common share)

5 unchanged paragraphs

Balance at June September 30, 2025

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Cash dividends ($ 0.440 0.670 per common share)

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Balance at June September 30, 2026

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Non-cash restructuring charges

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(Benefit from) provision for credit losses

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Proceeds from sale of business

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Investments in unconsolidated affiliates and other strategic investments ( 1,813 4,277 )

13 unchanged paragraphs

Net increase (decrease) in cash and cash equivalents

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Note 1: Description of Business and Basis of Presentation 1 change

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The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to this Form 10-Q and do not include all information and disclosures required by GAAP. Therefore, this information should be read in conjunction with our consolidated financial statements and notes contained in our 2025 Form 10-K. The information furnished herein reflects all adjustments that are, in the opinion of management, of a normal recurring nature and considered necessary for a fair statement of the results of the interim periods reported. All intercompany balances and transactions have been eliminated in consolidation. Operating results for the six nine months ended June September 30, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.

Note 3: Business Transactions 1 change

On August 1, 2025, we completed the sale of certain contract operations customer agreements and approximately 155 compressors, comprising approximately 47,000 horsepower, used to provide compression services under those agreements along with other supporting assets , for aggregate total consideration of $ 71.0 million. Goodwill, customer-related intangible assets and deferred revenue were allocated based on a ratio of the horsepower sold relative to the total horsepower of the asset group. The disposal group was classified as held for sale as of June 30, 2025, and its carrying value was adjusted to estimated fair value less costs to sell. We recorded a write-down of $ 8.7 0.9 million and $ 9.6 million during the three and six nine months ended June September 30, 2025, which is included in long-lived and other asset impairment in our condensed consolidated statements of operations.

Note 4: Accounts Receivable 2 changes

3 unchanged paragraphs

(1) See Note 18 19 ("Related Party Transactions") for further details.

As of June September 30, 2026, we recognized continued to recognize a gross insurance recovery receivable within accounts receivable, net and other assets in our condensed consolidated balance sheets as recovery under the applicable insurance policy was determined to be remained probable and reasonably estimable. We also recognized continue to recognize a gross litigation settlement liability within accrued liabilities related to a settlement agreement. finalized prior to the issuance of these condensed consolidated financial statements.

Note 8: Investments in Unconsolidated Affiliates and Other Strategic Investments 5 changes

2 unchanged paragraphs

On July 1, 2026, the limited liability agreement was amended to include, among other provisions, authorization of additional capital of 80 thousand units issued to us at a purchase price of $ 25 per unit. In connection with the amendment, we invested $ 2.0 million in FGC Holdco, which resulted in a 37 % equity interest in FGC Holdco at that time.

During the three months ended September 30, 2026 and 2025, we invested $ 2.5 million and $ 0.1 million, respectively, in FGC Holdco and during the nine months ended September 30, 2026 and 2025, we invested $ 2.9 million and $ 0.5 million, respectively, in FGC Holdco. As of September 30, 2026 and December 31, 2025, the carrying value of our investment in FGC Holdco was $ 2.2 million and $ 0.2 million, respectively, which is included in other assets in our condensed consolidated balance sheets. Cash contributions are included in the investing activities section of our condensed consolidated statements of cash flows.

We determined FGC Holdco is a VIE over which we do not have the power to direct the activities that most significantly impact economic performance and therefore are not the primary beneficiary. The board of directors of FGC Holdco has control over the activities that most significantly impact the economic performance, and although we participate in board governance, we do not have the unilateral ability to control board decisions. We apply the equity method of accounting to account for our investment. The carrying value of our equity investment is impacted by our share of investee income or loss, distributions, amortization or accretion of basis differences and other-than-temporary impairments.

As of September 30, 2026, we had a $ 2.8 million basis difference between the cost of our investment and our proportionate share of the carrying value of FGC Holdco's underlying net assets. The basis difference is primarily attributed to intangible assets and is being amortized over the estimated 20-year useful life.

We recognized equity method losses of $ 0.5 million and $ 0.3 million during the three months ended September 30, 2026 and 2025, respectively, and $ 1.4 million and $ 0.5 million during the nine months ended September 30, 2026 and 2025, respectively, which is included in equity in net loss of unconsolidated affiliate in our condensed consolidated statements of operations. We eliminate intra-entity profits and losses on transactions with FGC Holdco to the extent such profits or losses are not realized through transactions with third parties. See Note 19 ("Related Party Transactions") for further details.

Note 9: Accrued Liabilities 2 changes

Accrued liabilities is are comprised of the following:

4 unchanged paragraphs

As of June September 30, 2026, we recognized continue to recognize a gross litigation settlement liability within accrued liabilities related to a settlement agreement finalized during the third quarter of 2026, prior to the issuance of these the condensed consolidated financial statements for the quarterly period ended June 30, 2026. We also recognized continue to recognize a gross insurance recovery receivable within accounts receivable, net and other assets in our condensed consolidated balance sheets as of June September 30, 2026, as recovery under the applicable insurance policy was determined to be remained probable and reasonably estimable.

Note 10: Long-Term Debt 6 changes

11 unchanged paragraphs

Third Amendment to the Amended and Restated Credit Agreement

In December 2025, we amended our Amended and Restated Credit Agreement to, among other things, remove the 0.10 % per annum credit spread adjustment that was previously included in the calculation of the interest rate applicable to the loans made under the Credit Facility, decrease the applicable margin for all borrowings by 0.25 % per annum such that the applicable margin for borrowings varies and decrease the commitment fee payable on the daily unused amount of the Credit Facility from 0.375 % per annum to 0.25 % per annum when less than 50 % of the Credit Facility is utilized. We did not incur any transaction costs related to the Third Amendment to the Amended and Restated Credit Agreement.

As of September 30, 2026, there were $ 3.2 million letters of credit outstanding under the Credit Facility and the applicable margin on borrowings outstanding was 1.7 %. The weighted-average annual interest rate on the outstanding balance under the Credit Facility was 5.5 % and 5.8 % at September 30, 2026 and December 31, 2025, respectively. We incurred $ 0.4 million and $ 0.5 million of commitment fees on the daily unused amount of the Credit Facility during the three months ended September 30, 2026 and 2025, respectively, and $ 1.5 million during both the nine months ended September 30, 2026 and 2025.

As of September 30, 2026, we were in compliance with all covenants under our Amended and Restated Credit Agreement. Additionally, all undrawn capacity on our Credit Facility was available for borrowings as of September 30, 2026.

Second Amendment to the Amended and Restated Credit Agreement

In May 2025, we amended our Amended and Restated Credit Agreement to, among other things, increase the borrowing capacity of the Credit Facility from $ 1.1 billion to $ 1.5 billion and to provide for the ability for the borrowers to request additional increases in the aggregate commitments under the Credit Facility to a total amount not to exceed $ 2.3 billion (with any increase being at the discretion of the lenders and subject to the satisfaction of certain conditions set forth in the Amended and Restated Credit Agreement).

Notes to the financial statements 6 changes

On January 21, 2026, we completed a private offering of $ 800.0 million aggregate principal amount of 6.0 % senior notes due 2034 and received net proceeds of $ 789.4 million after deducting issuance costs. In January 2026, the approximately $ 10.6 million of issuance costs were recorded as deferred financing costs within long-term debt in our condensed consolidated balance sheets and are being amortized to interest expense in our condensed consolidated statements of operations over the term of the notes. The net proceeds were used to repay borrowings outstanding under our Credit Facility.

The 2034 Notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the U.S. except pursuant to a registration exemption under the Securities Act and applicable state securities laws. We offered and issued the 2034 Notes only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and to certain non-U.S. persons outside the U.S. in accordance with Regulation S under the Securities Act. The 2034 Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by us, and by all of our existing subsidiaries, other than Archrock Services, L.P. and Archrock Partners Finance Corp., which are the issuers of the 2034 Notes. The 2034 Notes and the guarantees rank equally in right of payment with all of our and the guarantors' existing and future senior unsecured indebtedness.

We may, at our option, redeem all or part of the 2034 Notes at any time on or after February 1, 2029, at specified redemption prices, plus any accrued and unpaid interest. In addition, prior to February 1, 2029, we may redeem up to 40 % of the 2034 Notes, in an amount equal to the net cash proceeds of one or more equity offerings, at a specified redemption price, plus any accrued and unpaid interest. We may also redeem all or part of the 2034 Notes at any time prior to February 1, 2029 at a redemption price equal to the principal amount and a make whole premium, plus any accrued and unpaid interest.

4 unchanged paragraphs

We may, at our option, redeem all or part of the 2032 Notes at any time on or after September 1, 2027, at specified redemption prices, plus any accrued and unpaid interest. In addition, prior to September 1, 2027, we may redeem up to 40 % of the 2032 Notes, in an amount equal to the net cash proceeds of one or more equity offerings, at a specified redemption price, plus any accrued and unpaid interest. We may also redeem all or part of the 2032 Notes at any time prior to September 1, 2027 at a redemption price equal to the principal amount and a make whole premium, plus any accrued and unpaid interest.

The indenture governing the 2032 Notes contains covenants that, among other things, limit our ability to pay dividends on, repurchase or redeem our common stock or repurchase or redeem subordinated debt; make investments; incur or guarantee additional indebtedness or issue preferred securities; create or incur certain liens; sell assets; consolidate, merge or transfer all or substantially all of our assets; enter into agreements that restrict distributions or other payments from our restricted subsidiaries to us; engage in transactions with affiliates; and create unrestricted subsidiaries. If the 2032 Notes achieve an investment grade rating from each of Moody's Investors Service, Inc. and S&P Global Ratings and no default has occurred and is continuing, many of these covenants will terminate. The indenture governing the 2032 Notes also contains customary events of default.

In December 2020, we completed a private offering of $ 300.0 million aggregate principal amount of 6.25 % senior notes due April 2028, which were issued pursuant to the indenture under which we completed a private offering of $ 500.0 million aggregate principal amount of 6.25 % senior notes in December 2019. The notes of the two offerings have identical terms and are treated as a single class of securities. The $ 300.0 million of notes were issued at 104.875 % of their face value and have an effective interest rate of 5.6 %. The $ 500.0 million of notes were issued at 100 % of their face value and have an effective interest rate of 6.8 %.

Note 11: Commitments and Contingencies 5 changes

1 unchanged paragraph

Our future capital purchase commitments consist of contractual obligations for new fleet assets that have been ordered but not yet received. As of June 30, 2026, we had contractual obligations to purchase $ 868.9 million of additional fleet assets through 2029, of which $ 258.8 million is due within the next 12 months.

As of September 30, 2026, we had purchase commitments for new fleet assets with anticipated deliveries through 2030 in the amount of $ 958.1 million, of which $ 278.1 million is due within the next 12 months.

2 unchanged paragraphs

We are subject to a number of state and local taxes that are not income-based. As many of these taxes are subject to audit by the taxing authorities, it is reasonably possible that an audit could result in additional taxes due. We accrue for such additional taxes when we determine that it is probable that we have incurred a liability and we can reasonably estimate the amount of the liability. As of June September 30, 2026 and December 31, 2025, we accrued $ 7.2 7.7 million and $ 7.9 million, respectively, for the outcomes of non-income-based tax audits. We do not expect that the ultimate resolutions of these audits will result in a material variance from the amounts accrued. We do not accrue for unasserted claims for tax audits unless we believe the assertion of a claim is probable, it is probable that it will be determined that the claim is owed and we can reasonably estimate the claim or range of the claim. We believe the likelihood is remote that the impact of potential unasserted claims from non-income-based tax audits could be material to our condensed consolidated financial position, but it is reasonably possible that the resolution of future audits could be material to our condensed consolidated results of operations or cash flows.

As of June September 30, 2026 and December 31, 2025, $ 2.9 million and $ 3.1 million, respectively, of the tax contingencies mentioned above had an offsetting indemnification asset.

We settled certain sales and use tax audits for which we recorded net benefits of $ 9.9 million and $ 10.8 million during the three and nine months ended September 30, 2025, respectively. Additional settlement activity during the fourth quarter of 2025 increased the cumulative net settlement benefit recorded for the year ended December 31, 2025 to $ 27.8 million. For certain subsequent open sales and use tax periods, we recorded tax credits resulting in a net benefit of $ 8.0 million during the year ended December 31, 2025. The net benefits from these settlements and credits were primarily reflected as a decrease to cost of sales, exclusive of depreciation and amortization in our condensed consolidated statements of operations. As of December 31, 2025, these settlements and credits were reflected in our condensed consolidated balance sheet as a $ 41.5 million tax refund receivable, partially offset by $ 9.9 million in accrued liabilities and $ 1.0 million in other liabilities .

Note 12: Stockholders' Equity 2 changes

2 unchanged paragraphs

Our Board of Directors authorized the Share Repurchase Program in April 2023 that allowed us to repurchase and retire up to $ 50.0 million of outstanding common stock. Between April 2024 and October 2025, extensions of the Share Repurchase Program were approved by our Board of Directors to repurchase and retire outstanding common stock through December 31, 2026. As of June September 30, 2026, available capacity under the Share Repurchase Program was $ 113.2 million.

1 unchanged paragraph

Since the inception of the Share Repurchase Program in April 2023 and through June September 30, 2026, we have repurchased 4,632,263 shares of common stock at an average price of $ 20.91 per share, for an aggregate of $ 96.9 million. As of June September 30, 2026, we have retired all of the shares of common stock that had been previously repurchased under the Share Repurchase Program.

2 unchanged paragraphs

Note 13: Revenue from Contracts with Customers 5 changes

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(2) Includes $ 1.6 2.2 million and $ 1.8 1.3 million for the three months ended June September 30, 2026 and 2025, respectively, and $ 3.1 5.3 million and $ 3.4 4.7 million for the six nine months ended June September 30, 2026 and 2025, respectively, related to billable maintenance on owned compressors that was recognized at a point in time. All other contract operations revenue is recognized over time.

1 unchanged paragraph

See Note 19 20 ("Segments") for further details.

1 unchanged paragraph

As of June September 30, 2026, we had $ 1.5 billion of remaining performance obligations related to our contract operations segment, which will be recognized through 2034 as follows:

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(1) Performance obligations are expected to be $ 89.6 96.5 million, $ 79.9 84.5 million, $ 71.5 75.5 million and $ 33.5 35.8 million during the years ending December 31, 2031 , 2032 , 2033 and 2034 , respectively.

2 unchanged paragraphs

As of June September 30, 2026 and December 31, 2025, our receivables from contracts with customers, net of allowance for credit losses, were $ 158.9 152.5 million and $ 128.9 million, respectively.

Note 14: Long-Lived and Other Asset Impairment 1 change

7 unchanged paragraphs

See Note 17 18 ("Fair Value Measurements") for further details.

Note 15: Restructuring Charges 10 changes

During the second quarter of 2025, management approved and initiated a plan to exit certain facilities that were no longer deemed economical for our business, and during the three and six nine months ended June September 30, 2026, we continued incurred $ 0.3 million of costs to execute exit these facilities, whereas during the plan three months and nine months ended September 30, 2025, we incurred $ 0.1 0.7 million and $ 0.3 0.8 million, respectively of costs to exit these facilities. The facility closure costs incurred under the above restructuring plan were recorded to restructuring charges in our condensed consolidated statements of operations. We do no t expect to incur additional restructuring charges related to these restructuring activities.

2 unchanged paragraphs

Three months ended June 30, 2026

Total restructuring charges

Three months ended June September 30, 2025

1 unchanged paragraph

Six months ended June 30, 2026

Nine Months Ended September 30, 2026

1 unchanged paragraph

Six months ended June 30, 2025

Nine Months Ended September 30, 2025

3 unchanged paragraphs

Three Months Ended June 30,

Six Months Ended June 30,

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Note 16: Income Taxes 1 change

The year-to-date effective tax rate for the six nine months ended June September 30, 2026 differed significantly from our statutory rate primarily due to state taxes, unrecognized tax benefits and the limitation on executive compensation, partially offset by the benefit from equity-settled long-term incentive compensation.

Note 17: Earnings Per Common Share 2 changes

1 unchanged paragraph

Diluted earnings per common share is computed using the weighted-average number of common shares outstanding adjusted for the incremental common stock equivalents attributed to outstanding performance-based and time-based restricted stock units and stock to be issued pursuant to our ESPP unless their effect would have been anti-dilutive.

9 unchanged paragraphs

Weighted-average common shares outstanding used in diluted earnings per common share (1) The three and six nine months ended June September 30, 2026, excludes and the three months ended September 30, 2025, exclude the income effect of participating liability awards that permit share settlement as the effect would be anti-dilutive .

Note 18: Fair Value Measurements 4 changes

6 unchanged paragraphs

As of June September 30, 2026, we owned a 25 % equity interest in ECOTEC in which we have elected the fair value option to account for this investment. There were no purchases of equity interests or unrealized changes in the fair value of our investment in ECOTEC recognized during the three and six nine months ended June September 30, 2026 or 2025. The fair value of our investment in ECOTEC at as of both June September 30, 2026 and December 31, 2025 was $ 14.6 million and is included in other assets in our condensed consolidated balance sheets.

The fair value determination of this investment primarily consisted of unobservable inputs, which creates uncertainty in the measurement of fair value as of the reporting date. The significant unobservable inputs used in the fair value measurement, which was valued through an average of an income approach (discounted cash flow method) and a market approach (guideline public company method), are the WACC and the revenue multiples. Significant increases (decreases) in these inputs in isolation would result in a significantly higher (lower) fair value measurement. This fair value measurement is classified as Level 3 . See Note 7 8 ("Investments in Unconsolidated Affiliates and Other Strategic Investments") for further details.

2 unchanged paragraphs

As of June September 30, 2026 and December 31, 2025, the carrying value of our investments in which we have elected the fair value measurement alternative was $ 12.0 million and $ 10.6 million, respectively, and is included in other assets in our condensed consolidated balance sheets. There were no upward adjustments, impairments or downward adjustments to the carrying value of these investments as of both June September 30, 2026 and December 31, 2025. See Note 7 8 ("Investments in Unconsolidated Affiliates and Other Strategic Investments") for further details.

During the six nine months ended June September 30, 2026, we recorded nonrecurring fair value measurement adjustments related to our idle compressors. Our estimate of the compression fleet's fair value was primarily based on the expected net sale proceeds compared with other fleet units we recently sold and/or a review of other units recently offered for sale by third parties, or the estimated component value of the equipment we plan to use. We discounted the expected proceeds, net of selling and other carrying costs, using a weighted-average disposal period of four years. These fair value measurements are classified as Level 3.

Note 19: Related Party Transactions 2 changes

During the three and six nine months ended June September 30, 2026, we made purchases of $ 0.1 million and $ 0.3 million respectively, from our unconsolidated affiliate ECOTEC, whereas during the three and six nine months ended June September 30, 2025, we made purchases of $ 0.2 0.1 million and $ 0.3 0.4 million, respectively. from our unconsolidated affiliate.

During the three and six nine months ended June September 30, 2026, we made no purchases from our unconsolidated affiliate FGC Holdco, whereas during the three and six nine months ended June September 30, 2025, we made purchases of $ 1.2 0.4 million and $ 3.1 3.5 million, respectively. from our unconsolidated affiliate.

MD&A 63 changes

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On April 1, 2026, we repurchased our 2028 Notes. The 2028 Notes were redeemed at 100% of their $800.0 million aggregate principal amount plus accrued and unpaid interest of approximately $25.0 million with borrowings under the Credit Facility. We recorded a debt extinguishment gain of $0.7 million during the second quarter of 2026 due to the write-off of unamortized debt premium of $4.0 million, which was partially offset by the write-off of unamortized debt issuance costs of $3.3 million. See Note 9 10 ("Long-Term Debt") for further details.

On January 21, 2026, we completed a private offering of $800.0 million aggregate principal amount of 6.0% senior notes due 2034 and received net proceeds of $789.4 million after deducting issuance costs. In January 2026, the approximately $10.6 million of issuance costs were recorded as deferred financing costs within long-term debt in our condensed consolidated balance sheets and are being amortized to interest expense in our condensed consolidated statements of operations over the term of the notes. The net proceeds were used to repay borrowings outstanding under our Credit Facility. See Note 9 10 ("Long-Term Debt") for further details.

13 unchanged paragraphs

Adjusted gross margin has certain material limitations associated with its use as compared to net income. These limitations are primarily due to the exclusion of SG&A, depreciation and amortization, long-lived and other asset impairment, restructuring charges, debt extinguishment gain, interest expense, transaction-related costs, gain on sale of assets, net, other (income) expense, net, provision for income taxes and equity in net loss of unconsolidated affiliate. Because we intend to finance a portion of our operations through borrowings, interest expense is a necessary element of our costs and our ability to generate revenue. Additionally, because we use capital assets, depreciation expense is a necessary element of our costs and our ability to generate revenue, and SG&A is necessary to support our operations and required corporate activities. To compensate for these limitations, management uses this non-GAAP measure as a supplemental measure to other GAAP results to provide a more complete understanding of our performance.

8 unchanged paragraphs

Other (income) expense, net

9 unchanged paragraphs

Revenue was $371.2 $370.8 million and $383.2 $382.4 million during the three months ended June September 30, 2026 and 2025, respectively. The decrease was primarily driven by decreased revenue from our aftermarket services business, partially offset by increased revenue from our contract operations business. See "Contract Operations" and "Aftermarket Services" below for further details.

Revenue was $745.0 $1,115.8 million and $730.3 $1,112.7 million during the six nine months ended June September 30, 2026 and 2025, respectively. The increase was primarily driven by increased revenue from our contract operations business, partially offset by decreased revenue from our aftermarket services business. See "Contract Operations" and "Aftermarket Services" below for further details.

Net income was $140.5 $84.5 million and $134.3 $71.2 million during the six three months ended June September 30, 2026 and 2025, respectively. The increase was primarily driven by higher adjusted gross margin from our contract operations business, as well as decreases in transaction-related costs SG&A and interest expense, as well as a change to other income, net in the three months ended September 30, 2026 from other expense, net in the three months ended September 30, 2025. These increases decreases were partially offset by increases an increase in depreciation and amortization, SG&A and provision for income taxes, as well as lower adjusted gross margin from our aftermarket services business.

Net income was $66.7 $225.0 million and $63.4 $205.5 million during the three nine months ended June September 30, 2026 and 2025, respectively. The increase was primarily driven by higher adjusted gross margin from our contract operations business and a change to other income, net in the nine months ended September 30, 2026 from other expense, net in the nine months ended September 30, 2025, as well as decreases in transaction-related costs, interest expense and long-lived and other asset impairment. transaction-related costs and interest expense. These increases decreases were partially offset by increases in depreciation and amortization SG&A and provision for income taxes, as well as lower adjusted gross margin from our aftermarket services business and a reduction decrease in gain on sale of assets, assts, net.

Three Months Ended June September 30, 2026 Compared to Three Months Ended June September 30, 2025 (dollars in thousands)

4 unchanged paragraphs

Revenue in our contract operations business increased approximately $10.9 million due primarily to higher rates, an additional month of revenue from the compression units acquired in the NGCS Acquisition and revenue from additions of horsepower. These increases were partially offset by sales of active horsepower, including the compression units sold in the Flowco Disposition.

Revenue in our contract operations business increased approximately $4.9 million primarily due to higher rates, partially offset by sales of active horsepower.

The decrease increase in cost of sales, exclusive of depreciation and amortization was primarily due to a net increase of $8.2 million in non-income taxes due to a $9.9 million net benefit recorded during the three months ended September 30, 2025 as a result of certain sales and use tax audit settlements, partially offset by a decrease in non-income tax expense for the three months ended September 30, 2026, as well as an increase of $3.0 $2.3 million in make-ready costs to put idle compression equipment back to work, and an increase of $0.9 million in lube oil expenses due to lower higher prices, and partially offset by a reduction in volumes purchased. as well as These increases were partially offset by a decrease of $1.3 $3.7 million in parts expense due to lower service activity levels, These decreases were partially offset by and a $2.0 decrease of $3.0 million increase in employee compensation and benefits expense. We continue to anticipate lube oil cost pressure in the second half fourth quarter of 2026.

The increases decreases in adjusted gross margin and adjusted gross margin percentage were mainly driven by revenue growth combined with a reduction an increase in cost of sales, exclusive of depreciation and amortization that outpaced revenue growth.

6 unchanged paragraphs

Revenue in our aftermarket services business decreased primarily due to lower parts sales as well as reduced customer demand for major maintenance service activity, compared to the three months ended June 30, 2025, which reflected higher as well as lower parts sales. including the non-recurring sales of overhauled engines.

1 unchanged paragraph

The decrease in adjusted gross margin was mainly driven by a decrease in revenue that slightly outpaced the decrease in cost of sales, exclusive of depreciation and amortization.

4 unchanged paragraphs

Debt extinguishment gain

2 unchanged paragraphs

Other (income) expense, net

Selling, general and administrative. SG&A increased decreased for the three months ended June September 30, 2026 primarily due to higher lower long-term incentive compensation expense, including a $2.7 $7.0 million increase decrease in cash-settled incentive compensation expense as a result of an increase changes in our stock price and a $3.4 million decrease in cash-settled incentive compensation expense pursuant to executive retention and certain other executive agreements, as well as a $0.6 $2.9 million increase decrease in information technology employee compensation and benefits expense. These increases decreases were partially offset by a $0.9 $1.1 million decrease increase in professional fees.

Depreciation and amortization. Depreciation and amortization increased primarily due to fixed assets additions, including depreciation and amortization associated with the capital expenditures for compression units and intangible transportation assets. acquired in the NGCS Acquisition. The This increase was partially offset by a decrease in depreciation associated with assets reaching the end of their depreciable lives as well as compression and other asset sales.

Long-lived and other asset impairment . The decrease in long-lived and other asset impairment was primarily due to the $8.7 $0.9 million write-down of assets held for sale to estimated fair value less costs to sell as of June recorded during the three months ended September 30, 2025, The as well as a decrease was partially offset by an increase of $2.8 $0.6 million in compression fleet impairment.

6 unchanged paragraphs

Debt extinguishment gain. We recorded a debt extinguishment gain of $0.7 million during the three months ended June 30, 2026 as a result of the 2028 Notes Redemption, due to the write-off of unamortized debt premium of $4.0 million, which was partially offset by the write-off of unamortized debt issuance costs of $3.3 million.

Other income, net. The decrease in other income, net was primarily due to a decrease in proceeds from insurance and other settlements during the three months ended June 30, 2026, compared to the three months ended June 30, 2025 .

In connection with the classification of the disposal group as assets held for sale as of June 30, 2025, we adjusted the carrying value of the disposal group to its estimated fair value less costs to sell and recorded a write-down of $8.7 $0.9 million during the three months ended June September 30, 2025, which is included in long-lived and other asset impairment in our condensed consolidated statements of operations. See Note 3 ("Business Transactions") for further details.

Restructuring charges. Restructuring charges of $0.1 $0.7 million during both the three months ended June September 30, 2026 and 2025 consisted of property disposal and closure costs . See Note 14 15 ("Restructuring Charges") for further details.

Interest expense. Interest expense decreased for the three months ended June September 30, 2026, primarily due to a decrease in the weighted-average effective interest rate, as well as a lower average outstanding balance of long-term debt, as well as a decrease in the weighted-average effective interest rate.

Transaction-related costs. We incurred professional fees, compensation and other costs related to the NGCS Acquisition during the three months ended June September 30, 2026 and 2025 of $0.1 million and $4.7 $1.1 million, respectively. We incurred compensation and other costs related to the TOPS Acquisition during the three months ended June September 30, 2026 and 2025 of $0.2 $0.1 million and $1.4 $0.7 million, respectively. See Note 3 ("Business Transactions") for further details on the NGCS Acquisition.

Gain on sale of assets, net . Gain on sale of assets, net decreased for the three months ended June September 30, 2026, primarily due to gains of $0.6 $1.2 million on other asset sales, partially offset by losses of $0.3 and $0.9 million on compression and other asset sales, respectively, compared to gains of $3.6 $3.1 million and $0.7 million on compression and other asset sales, respectively, during the three months ended June September 30, 2025.

Other (income) expense, net. The change to other income during the three months ended September 30, 2026 from other expense during the three months ended September 30, 2025 was primarily due to a limited liability agreement amendment fee of $3.6 million paid to FGC Holdco during the three months ended September 30, 2025 (see Note 19 ("Related Party Transactions") for further details), as well as indemnification expense of $0.8 million related to a change in a previously recognized indemnification asset recognized during the three months ended September 30, 2025 .

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Provision for income taxes increased during the three months ended June 30, 2026, primarily due to the tax effect of the increase in book income and the limitation on executive compensation partially offset by the benefit from equity-settled long-term incentive compensation.

Provision for income taxes increased during the three months ended September 30, 2026, primarily due to higher income before income taxes.

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Six Nine Months Ended June September 30, 2026 Compared to Six Nine Months Ended June September 30, 2025 (dollars in thousands)

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Revenue in our contract operations business increased approximately $41.4 $46.3 million due primarily due to higher rates and an additional four months of revenue from the compression units acquired in the NGCS Acquisition. and revenue from additions of horsepower. These increases were partially offset by sales of active horsepower, including the compression units sold in the Flowco Disposition.

The increase in cost of sales, exclusive of depreciation and amortization, was primarily due to a $6.0 million net increase of $6.6 million in employee compensation non-income taxes due to a $10.8 million net benefit recorded during the nine months ended September 30, 2025 as a result of certain sales and benefits use tax audit settlements, partially offset by a decrease in non-income tax expense for the nine months ended September 30, 2026, and a $0.7 net increase of $3.2 million in costs associated with the timing of the NGCS Acquisition in 2025, partially offset by a reduction in costs associated with asset dispositions in 2025, as well as an increase of $3.0 million in parts expense due make-ready costs to higher service activity levels. put idle compression equipment back to work. These increases were partially offset by a decrease of $5.4 $5.7 million in parts expense due to lower service activity levels, as well as a decrease of $4.5 million in lube oil expenses primarily due to lower prices partially offset by an increase and a decrease in volumes purchased. We continue to anticipate lube oil cost pressure in the second half fourth quarter of 2026.

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Revenue in our aftermarket services business decreased primarily due to reduced customer demand for major maintenance service activity as well as lower parts sales compared to the six nine months ended June September 30, 2025, which reflected higher parts sales, including the non-recurring sale of overhauled engines.

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The decreases in adjusted gross margin and adjusted gross margin percentage were mainly driven by a decrease in revenue that slightly outpaced the decrease in cost of sales, exclusive of depreciation and amortization.

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Other (income) expense, net

Selling, general and administrative. SG&A increased decreased for the six nine months ended June September 30, 2026 primarily due to higher long-term incentive compensation expense, including a $6.7 $2.3 million increase decrease in cash-settled incentive employee compensation and benefits expense as and a result of an $1.7 million decrease in professional fees. These decreases were partially offset by a $1.7 million increase in our stock price and information technology expense, a $3.2 $1.6 million acceleration of expense recognition for long-term incentive compensation pursuant to an executive retention agreement, partially offset by a $0.9 million decrease in cash-settled incentive compensation expense as a result of changes in our stock price, a benefit of $0.8 million recognized during the nine months ended September 30, 2025 related to a change in previously recognized tax contingencies, as well as a $1.4 $0.6 million increase in information technology insurance expense. These increases were partially offset by a $2.8 million decrease in professional fees.

Depreciation and amortization. Depreciation and amortization increased primarily due to fixed assets additions, including depreciation and amortization associated with the compression units and intangible assets acquired in the NGCS Acquisition, The and depreciation associated with capital expenditures for compression units and transportation assets. This increase was partially offset by a decrease in depreciation associated with assets reaching the end of their depreciable lives as well as compression and other asset sales.

Long-lived and other asset impairment. The decrease in long-lived and other asset impairment was primarily due to the $8.7 $9.6 million write-down of assets held for sale to estimated fair value less costs to sell as of June 30, 2025. The decrease was partially offset by an increase of $7.1 $6.5 million in compression fleet impairment.

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Other income, net. The decrease in other income, net was primarily due to a decrease in proceeds from insurance and other settlements during the six months ended June 30, 2026, compared to the six months ended June 30, 2025 .

In connection with the classification of the disposal group as assets held for sale as of June 30, 2025, we adjusted the carrying value of the disposal group to its estimated fair value less costs to sell and recorded a write-down of $8.7 $9.6 million during the six nine months ended June September 30, 2025, which is included in long-lived and other asset impairment in our condensed consolidated statements of operations. See Note 3 ("Business Transactions") for further details.

Restructuring charges. Restructuring charges of $0.3 million during the six nine months ended June September 30, 2026 consisted of property disposal and closure costs, whereas restructuring charges of $0.8 $1.5 million during the six nine months ended June September 30, 2025 consisted of severance as well as property disposal and closure costs . See Note 14 15 ("Restructuring Charges") for further details .

Debt extinguishment gain. We recorded a debt extinguishment gain of $0.7 million during the six nine months ended June September 30, 2026 as a result of the 2028 Notes Redemption, due to the write-off of unamortized debt premium of $4.0 million, which was partially offset by the write-off of unamortized debt issuance costs of $3.3 million.

Interest expense. Interest expense decreased for the six nine months ended June September 30, 2026, primarily due to a decrease in the weighted-average effective interest rate, partially offset by an increase as well as a decrease in the average outstanding balance of long-term debt.

Transaction-related costs. We incurred professional fees, compensation and other costs related to the NGCS Acquisition during the six nine months ended June September 30, 2026 and 2025 of $0.5 $0.6 million and $7.6 $8.7 million, respectively. We incurred compensation and other costs related to the TOPS Acquisition during the six nine months ended June September 30, 2026 and 2025 of $0.5 $0.6 million and $2.5 $3.1 million, respectively. See Note 3 ("Business Transactions") for further details on the NGCS Acquisition .

Gain on sale of assets, net . Gain on sale of assets, net decreased for the six nine months ended June September 30, 2026, primarily due to gains of $7.9 $9.1 million and $2.5 $3.5 million on compression and other asset sales, respectively, compared to gains of $10.7 $13.8 million and $0.9 $1.5 million on compression and other asset sales, respectively, during the six nine months ended June September 30, 2025.

Other (income) expense, net. The change to other income during the nine months ended September 30, 2026 from other expense during the nine months ended September 30, 2025 was primarily due to a limited liability agreement amendment fee of $3.6 million paid to FGC Holdco during the nine months ended September 30, 2025 (see Note 19 ("Related Party Transactions") for further details), as well as indemnification expense of $0.8 million related to a change in a previously recognized indemnification asset recognized during the nine months ended September 30, 2025, partially offset by a decrease in proceeds from insurance and other settlements.

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Provision for income taxes increased during the six months ended June 30, 2026, primarily due to the tax effect of the increase in book income and the limitation on executive compensation, partially offset by the benefit from equity-settled long-term incentive compensation.

Provision for income taxes increased during the nine months ended September 30, 2026, primarily due to higher income before income taxes.

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• dividend payments to our stockholders; and

• shares repurchased under the Share Repurchase Program; and

• shares repurchased under the Share Repurchase Program and to cover taxes required to be withheld on the vesting date of long-term incentive grants to employees.

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Growth capital expenditures were $115.9 $194.3 million and $206.7 $299.0 million for the six nine months ended June September 30, 2026 and 2025, respectively.

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Maintenance capital expenditures were $73.5 $106.7 million and $55.2 $84.8 million during the six nine months ended June September 30, 2026 and 2025, respectively. The increase in maintenance capital expenditures was primarily due to an increase in scheduled and unscheduled maintenance activities due to maintenance cycle requirements and the addition of the compression units acquired in the NGCS Acquisition.

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Purchase Commitments. Our future capital purchase commitments consist of contractual obligations for new fleet assets that have been ordered but not yet received. As of June 30, 2026, we had contractual obligations to purchase $868.9 million of additional fleet assets through 2029, of which $258.8 million is due within the next 12 months.

Purchase Commitments. As of September 30, 2026, we have purchase commitments for new fleet assets with anticipated deliveries through 2030 in the amount of $958.1 million, of which $278.1 million is due within the next 12 months.

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We continue to return capital to stockholders through quarterly dividends and share repurchases. On July 23, October 22, 2026, our Board of Directors declared a quarterly dividend of $0.23 per share of common stock, or approximately $40.5 million, to be paid on August 11, November 10, 2026 to stockholders of record at the close of business on August 4, November 3, 2026. Any future determinations to pay cash dividends to our stockholders will be at the discretion of our Board of Directors and will be dependent upon our financial condition, results of operations and credit and loan agreements in effect at that time and other factors deemed relevant by our Board of Directors. In October 2025, our Board of Directors approved an additional increase to our Share Repurchase Program of $100.0 million through December 31, 2026, and as of June September 30, 2026, available capacity under the Share Repurchase Program was $113.2 million. The actual number of shares repurchased will depend on prevailing market conditions, alternative uses of capital and other factors, and will be determined at management's discretion.

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During the six nine months ended June September 30, 2026 and 2025, our Credit Facility had an average daily balance of $596.6 $682.8 million and $589.9 $653.6 million, respectively. The weighted - average annual interest rate on the outstanding balance under the Credit Facility was 5.4% 5.5% and 5.8% at June September 30, 2026 and December 31, 2025, respectively. As of June September 30, 2026, there were $3.2 million letters of credit outstanding under the Credit Facility and the applicable margin on borrowings outstanding was 1.7%.

As of June September 30, 2026, we were in compliance with all covenants under our Amended and Restated Credit Agreement. Additionally, all undrawn capacity on our Credit Facility was available for borrowings as of June September 30, 2026.

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Net increase (decrease) in cash and cash equivalents

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The increase in net cash provided by operating activities was primarily due to tax refund receipts of $41.5 million and higher adjusted gross margin from our contract operations business. as a result of an overall increase in levels of activity.

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The decrease in net cash used in investing activities was primarily due to $296.6 $294.6 million of cash consideration paid, net of cash acquired, in the NGCS Acquisition during the six nine months ended June September 30, 2025, as well as a $68.2 an $85.3 million decrease in capital expenditures. These decreases were partially offset by a $71.0 million reduction in proceeds from the sale of a business and a $6.0 million reduction in proceeds from the sale of property, equipment and other assets.

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The change to net cash used in financing activities from net cash provided by financing activities was primarily due to net repayments on our Credit Facility of $52.9 $58.2 million and compared to net borrowings on our Credit Facility of $360.4 million in the prior year, a $10.7 $14.4 million increase in dividends paid to stockholders and an $8.8 million increase in payments for debt issuance costs. These increases were partially offset by a $24.6 $50.0 million decrease in shares repurchased under the Share Repurchase Program. Additionally, proceeds from the issuance of the 2034 Notes in January 2026 were offset by the 2028 Notes Redemption in April 2026.

Market risk 2 changes

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As of June September 30, 2026, we had $865.6 $860.3 million of variable interest rate indebtedness outstanding at a weighted-average annual interest rate of 5.4%. 5.5%.

A 1% increase or decrease in the effective interest rate on our Credit Facility's outstanding balance at June September 30, 2026 would have resulted in an annual increase or decrease in our interest expense of $8.7 $8.6 million.

Controls and procedures 1 change

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As of the end of the period covered by this Form 10-Q, our principal executive officer and principal financial officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the Exchange Act), which are designed to provide reasonable assurance that we are able to record, process, summarize and report the information required to be disclosed in our reports under the Exchange Act within the time periods specified in the rules and forms of the SEC. Based on the evaluation, as of June September 30, 2026, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were effective to provide reasonable assurance that the information required to be disclosed in reports that we file or submit under the Exchange Act is accumulated and communicated to management, and made known to our principal executive officer and principal financial officer, on a timely basis to ensure that it is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms.

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Unregistered sales of stock 9 changes

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The following table summarizes shares repurchased and shares withheld during the three months ended June September 30, 2026:

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April 1, 2026 — April 30, 2026

May 1, 2026 —May 31, 2026

June 1, 2026 — June 30, 2026

July 1, 2026 — July 31, 2026

August 1, 2026 — August 31, 2026

September 1, 2026 — September 30, 2026

(1) Represents shares of common stock purchased from employees to satisfy tax withholding obligations in connection with the vesting of restricted stock awards and shares repurchased under the Share Repurchase Program during the period. See Note 11 12 ("Stockholders' Equity") for further details.

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(3) Our Board of Directors authorized the Share Repurchase Program in April 2023, which allowed us to repurchase and retire up to $50.0 million of outstanding common stock. Between April 2024 and October 2025, extensions of the Share Repurchase Program were approved by our Board of Directors to repurchase and retire outstanding common stock through December 31, 2026 . See Note 11 12 ("Stockholders' Equity") for further details.

Other information 1 change

During the three months ended June September 30, 2026, none of our directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or a " non-Rule 10b5-1 trading arrangement ," as each term is defined in Item 408 of Regulation S-K.

Exhibits 2 changes

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Employment Letter, dated June 17, 2026, between Mohit Singh and Archrock, Inc. (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on June 25, 2026)

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*** Certain identified information has been excluded from this exhibit because it is both not material and is the type that the Company treats as private or confidential.

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