Flowco Holdings Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024, on March 18, 2025. For the full year 2024, total revenues reached $535.278 million, a substantial increase from $243.323 million in 2023. Adjusted EBITDA for the full year was $223.661 million, up from $122.501 million in the prior year.
In the fourth quarter of 2024, Flowco reported revenues of $185.993 million, with Adjusted EBITDA at $73.779 million. The Production Solutions segment saw Q4 revenue increase 1.5% sequentially to $113.330 million, while the Natural Gas Technologies segment reported Q4 revenue of $72.663 million. This performance reflects the impact of the 2024 business combination.
Joe Bob Edwards, President and CEO, stated that 2024 was a transformational year for Flowco, with revenue and EBITDA growth underscoring the company's ability to expand in an industry focused on production and capital efficiency. Management plans to continue investing in the business in 2025, maintaining capital discipline and focusing on attractive returns on capital employed. The company expects continued growth in 2025, driven by customer demand and a stable U.S. production outlook.
The company's pro forma 2024 revenue growth of 10% against U.S. oil production growth of 2-3% demonstrates its ability to outpace the market. Flowco's vertically integrated, domestic supply chain is cited as a competitive advantage, offering flexibility and reduced exposure to geopolitical disruptions. As of March 14, 2025, borrowings on the Revolving Credit Facility were $195.7 million, with $527.7 million available under the $723.5 million borrowing base.
Flowco's strategic focus on production optimization leverages resilient cash flows from customers' non-discretionary expenditures. The company's top quartile EBITDA margins illustrate the differentiation of its products, equipment, and technology. These solutions enable customers to produce oil and natural gas more efficiently while reducing downtime.
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