Business
Kodiak Gas Services, Inc. (KGS) Q2 2026 Earnings Call Transcript
Conference Call Participants
Elias Jossen – JPMorgan Chase & Co, Research Division
James Rollyson – Raymond James & Associates, Inc., Research Division
Neal Dingmann – William Blair & Company L.L.C., Research Division
Theresa Chen – Barclays Bank PLC, Research Division
Douglas Irwin – Citigroup Inc., Research Division
Jacqueline Koletas – Goldman Sachs Group, Inc., Research Division
Jan Overmeer – Jefferies LLC, Research Division
Derrick Whitfield – Texas Capital Securities, Research Division
Derek Podhaizer – Piper Sandler & Co., Research Division
Elvira Scotto – RBC Capital Markets, Research Division
James Larkin – BofA Securities, Research Division
Sunil Sibal – Seaport Research Partners
Sebastian Erskine – Rothschild & Co Redburn, Research Division
Presentation
Operator
Greetings, and welcome to the Kodiak Gas Services Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Graham Sones, Senior Vice President, Investor Relations. You may begin.
Graham Sones
Vice President of Investor Relations
Good morning, and thanks for joining us for the Kodiak Gas Services conference call and webcast to review our second quarter 2026 results. Joining me from the company today are Mickey McKee, President and Chief Executive Officer; and John Griggs, Executive Vice President and Chief Financial Officer. After my remarks, Mickey and John will discuss the steps we’ve taken towards our 2030 goals, share an update on the commercial progress in our Power Infrastructure segment and walk through our quarterly results and updated 2026 outlook. Then we’ll open it up for Q&A.
A replay of today’s call will be available by webcast and phone through August 21, 2026. Replay details are on the Investors tab
Business
Nationwide recall issued for dog and horse medication over glass fibers
Check out what’s clicking on FoxBusiness.com.
A nationwide recall has been issued for dog and horse medication after glass fibers were found floating in injection vials.
American Regent Inc. announced that select lots of Adequan Canine Injection and Adequan i.m. Injection joint medication are affected by the recall.
The recall includes two lots of Adequan Canine Injection, which is used to treat joint dysfunction in dogs, and two lots of Adequan i.m. Injection, which is for treating joint dysfunction and lameness in horses.
SOME OLDER FORD VEHICLES POSE ‘UNREASONABLE’ SAFETY RISKS, REGULATORS WARN

American Regent, Inc. announced that select lots of Adequan Canine Injection and Adequan i.m. Injection joint medication are affected by the recall. (FDA)
Both products are clear and colorless to slightly yellow solutions administered by intramuscular injection.
The company said the glass fibers were found during routine testing.
American Regent Inc. said it has not received any reports of an injury related to the recall.
POPULAR WALMART NUT BUTTER RECALLED AFTER TESTING DETECTS SALMONELLA

Both products are clear and colorless to slightly yellow solutions administered by intramuscular injection. (FDA)
Consumers are urged to stop using the recalled product lots and to throw them away or return them to the manufacturer. Consumers should also contact a veterinarian if their pets have experienced any problems that may be linked to using the medication.
“The administration of an intramuscular injectable product containing particulate matter, such as glass fibers, may result in local irritation, swelling, inflammation, injection site pain, infection, or abscesses,” the company said in its recall notice.

American Regent, Inc. said it has not received any reports of an injury related to the recall. (Getty Images / Getty Images)
CLICK HERE TO GET FOX BUSINESS ON THE GO
Veterinary hospitals, distributors and retailers are also instructed to return any unused product to the manufacturer or discard the item.
“American Regent, Inc. is committed to the safety of patients who rely on its products and is taking this precautionary action to protect public health,” the company said.
Editor’s note: The original version of this story incorrectly stated that the recall was initiated after fiberglass was found in the vials.
Business
Where Is Elon Musk Spending His Money in 2026? A Breakdown of Tesla, SpaceX and Politics This Year So Far
Elon Musk is in the middle of one of the most expensive years of his business career, funneling tens of billions of dollars across Tesla, SpaceX, xAI and a sprawling new chip-manufacturing venture, while simultaneously returning to large-scale political spending after briefly pulling back last year. Here is a breakdown of where the money is going.
Tesla’s Record Capital Spending
Tesla has raised its 2026 capital expenditure guidance to more than $25 billion, up from an already elevated forecast of “over $20 billion” issued in January and nearly triple the roughly $8.5 billion the company spent in 2025. The increase, disclosed during Tesla’s first-quarter earnings call in April, covers a wide range of priorities including AI training infrastructure, chip design, expanded manufacturing capacity for the Optimus humanoid robot, robotaxi operations, and supply chain investment across batteries, energy storage and AI silicon.
The scale of that spending has already shown up in Tesla’s quarterly results. The company’s capital expenditures jumped 142% year over year to nearly $6 billion in the quarter ended June 30, according to its shareholder deck, a surge that Chief Financial Officer Vaibhav Taneja said was the primary driver behind Tesla swinging to negative free cash flow for the period, which plummeted 848% from a year earlier to roughly negative $1 billion.
Musk has defended the pace of spending by comparing it to the AI infrastructure investment of major technology rivals, noting that Amazon is projecting roughly $200 billion in capital expenditure for 2026, while Google has guided to between $175 billion and $185 billion. Speaking on Tesla’s earnings call, Musk described 2026 as a “massive capex year” for the company, adding that he remains confident the investments underway will yield what he called incredible returns.
Tesla’s $2 Billion Bet on xAI
Beyond its own operations, Tesla has also directed capital toward Musk’s separate artificial intelligence venture. In January, Tesla confirmed a $2 billion investment in xAI through a purchase of Series E Preferred Stock, formally linking the financial fortunes of the two Musk-led companies. The move came as Tesla has increasingly positioned itself as an AI and robotics company rather than a pure electric vehicle manufacturer, a shift the company has said underpins much of its valuation.
Terafab: A Massive New Chip-Manufacturing Venture
Perhaps the most ambitious item on Musk’s 2026 spending list is Terafab, a joint semiconductor manufacturing venture between Tesla, SpaceX and xAI, alongside chipmaker Intel, aimed at addressing what Musk has described as an industry-wide shortage of AI chips. Site confirmation for the project’s initial phase came this month, with Tesla and SpaceX agreeing to build the facility in Grimes County, Texas, roughly an hour northwest of Houston.
That initial phase alone is projected to cost approximately $16.8 billion and is expected to create at least 3,000 jobs, many filled by local workers. Notably, that spending sits entirely outside Tesla’s separate $25 billion capital expenditure guidance for 2026, meaning the company’s total investment exposure this year is considerably larger than the headline capex figure suggests. Some analysts, including those at Morgan Stanley, have estimated that the complete Terafab buildout could ultimately require between $35 billion and $45 billion in total capital, with meaningful chip production unlikely before mid-2028 even under an accelerated construction timeline.
Musk has described Terafab in stark terms, saying that without the facility, his companies simply will not have the chips they need to pursue their broader AI ambitions. According to Musk, roughly 25% of the eventual AI computing capacity from the completed facility is expected to power Tesla’s Optimus robots, with the remaining 75% directed toward SpaceX’s ambitions for AI-powered satellites and orbital data centers.
SpaceX’s Own Massive Spending
Separately from its involvement in Terafab, SpaceX has been ramping up its own capital spending significantly, particularly tied to its AI computing ambitions. The company spent $329 million on Tesla-made Megapack battery systems during the first half of 2026 alone, according to a public quarterly filing, as costs connected to its AI data center expansion climbed sharply. SpaceX’s overall capital spending pace is running well ahead of Tesla’s, according to recent reporting, reflecting the company’s rapid buildout of AI infrastructure alongside its core launch and Starlink satellite businesses following its initial public offering in June.
A Return to Big Political Spending
After telling reporters last year that he planned to significantly scale back his political donations, Musk has reemerged in 2026 as one of the largest individual political donors ahead of the midterm elections. Federal Election Commission filings show Musk donated $5 million each to the Congressional Leadership Fund, the Senate Leadership Fund and MAGA Inc., the pro-Trump super PAC, in late June, followed by another $5 million to each of the two Republican congressional leadership funds in mid-December. This year, he added a $10 million contribution to a super PAC supporting Kentucky Senate candidate Nate Morris, along with roughly $1.6 million to his own America PAC in March.
Beyond those individual contributions, Musk has authorized America PAC to spend between $100 million and $120 million on a new field program focused on conservative voter turnout across at least eight states ahead of the 2026 midterms, according to reporting citing people briefed on the plans. That commitment builds on America PAC’s role as the largest single vehicle for Musk’s political spending, having already poured more than $250 million into Trump’s 2024 reelection campaign.
A Year Defined by Scale
Taken together, Musk’s 2026 spending spans a strikingly broad range: tens of billions of dollars in Tesla capital expenditure focused on AI and robotics, billions more tied to Terafab and SpaceX’s own AI infrastructure buildout, and well over $100 million committed to political campaigns and voter turnout efforts ahead of the midterms. With Terafab construction just beginning and Tesla’s capital spending still climbing through the back half of the year, the full scope of Musk’s 2026 financial commitments across his business empire is likely to continue expanding in the months ahead.
Business
Western Digital Stock Tanks. An Earnings Beat Isn’t Enough These Days.
Western Digital Stock Tanks. An Earnings Beat Isn’t Enough These Days.
Business
Bock Stock: Block Earnings Top Views. Guidance Underwhelms.
Square-parent Block (XYZ) reported second-quarter earnings and revenue that topped consensus estimates while key financial metrics came in slightly above Wall Street targets. Profit guidance met expectations. Block stock fell on the news Thursday. Released after the market close on Wednesday, Square earnings for the period ended June 30 were $1.02 per share on an adjusted basis, up 64% from…
Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Business
Coca-Cola blocks ‘Jesus is Lord’ but permits ‘Pedophile Pride’ on custom cans
The ‘Barron’s Roundtable’ panel discusses Coca-Cola’s soaring stock amid Pepsi’s plunge and what the future holds.
After an uproar of social media backlash over what custom messages Coca-Cola permits on its personalized cans, a Fox News Digital investigation into the platform’s moderation rules reveals an inconsistent system.
Testing various words and phrases in the 18-character-or-less requirement, the Coke can customization blocks mainstream religious phrases like “Jesus is Lord” and political slogans like “Make America Great,” while permitting left-wing activism, right-wing group names and even terms associated with child exploitation.
Religious and faith-based expressions seemed to face strict algorithmic suppression compared to secular or alternative viewpoints. Mainstream affirmations like “Jesus is Lord” and “Allah is Lord” are blocked, while anti-theist and secular phrases like “God is Dead” and “Atheist Pride,” alongside religious greetings like “Shalom” and “Buddha Bless,” are allowed.
This message popped up for rejected phrase or words: “The name or phrase you’ve submitted is not permitted. Names and phrases may not be permitted if they belong to a business, organization, celebrity, public figure, school, team or other trademark, are religious or political in nature, or could be considered inappropriate or unsuitable for other reasons.”
Osaic Chief Market Strategist Phil Blancato analyzes the latest trends from CES 2026, focusing on AI’s impact on Amazon’s future and more on ‘Making Money.’
COCA-COLA TAKES ITS FIGHT WITH THE IRS TO FEDERAL APPEALS COURT WITH $20B ON THE LINE
Patriotic or right-leaning slogans like “Make America Great,” along with any specific political leader names and all racial or identity pride phrases (“White Pride,” “Black Pride,” “Black Lives Matter”), are not permitted on personalized Coke cans. However, left-wing political slogans like “Defund the Police” and controversial political groups like the far-right “Proud Boys” are acceptable.

A Fox News Digital investigation found free speech discrepancies on Coca-Cola’s custom can tool. (Getty Images)
Another political disparity appeared when Fox News Digital found that “Stand with Israel” is allowed, while “Free Palestine” is blocked, highlighting arbitrary geopolitical enforcement.
Though benign religious and political terms are flagged, extreme and harmful phrases like “Pedophile Pride” and “MAP Pride” (Minor-Attracted Person) are permitted by the filter, as of Friday afternoon.
Additionally, basic text loophole tactics — like adding spaces (“P e d o p h i l e”) or numbers (“Wh1t3 Pr1d3”) — bypassed the system’s security rules.
While the online customization tool generates real-time digital previews, Coca-Cola’s site terms state that submitted text may require additional review before an order is physically printed and shipped.
“We created the Share A Coke personalization tool for Coca-Cola fans to celebrate with one another and make connections by creating bottles and cans with special names or phrases on them,” a Coca-Cola spokesperson told Fox News Digital. “We are aware of a technical issue affecting the personalization preview tool and are working to address it.”
“While we review and take corrective action, we have disabled the preview feature and paused new personalized product orders after becoming aware that it has been used to generate content previews using restricted terms that do not align with our guidelines,” the spokesperson continued. “All personalization orders are subject to moderation review after submission, and we have safeguards in place to prevent the approval and production of cans and bottles featuring religious, political, trademarked, inappropriate, or otherwise restricted terms and phrases. We will continue to enhance this tool based on consumer feedback.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Coca-Cola Chairman and CEO James Quincey has the latest on the updated recipe on ‘The Claman Countdown.’
This is not the first time Coca-Cola’s automated customization filters have drawn public scrutiny. Previous iterations of the brand’s online customization engine faced similar criticism in 2021 over inconsistent word blocks regarding political, religious and social movement terms.
Business
Canada Services PMI Improves in July Yet Remains in Contraction Territory
Activity in Canada’s services industry remained subdued last month as price pressures intensified and output and sales declines, data released Thursday showed.
The S&P Global Canada services purchasing managers index climbed to 49.1 in July. That marked an improvement from June’s 47.1 but still below the 50 threshold separating contraction from expansion.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Business
Stock Market Leadership Just Flipped. Now the Nasdaq Is on Top.
Stock market leadership just flipped.
The Nasdaq Composite rose 0.1% after opening lower. The Dow Jones Industrial Average, which was leading at the starting bell, was down 310 points, or 0.6%. The S&P 500 was down 0.1%.
Driving the Nasdaq’s move was a sharp turnaround in chip stocks; the iShares Semiconductor ETF rallied 1.8% after opening sharply lower. On the other hand, the iShares Expanded Tech-Software Sector ETF was still down 2.1%.
Business
Chord Energy director Douglas Brooks sells $1.07 million in stock

Chord Energy director Douglas Brooks sells $1.07 million in stock
Business
AppLovin Stock Tumbles After Earnings. Here’s What Has Wall Street Worried.
AppLovin (APP) stock is taking another big hit Thursday after a letdown from its Q2 results. Analysts mostly stuck by bullish views of the stock after the report, but cut their price targets on a stock that was a Wall Street darling in 2024 and 2025. AppLovin stock dropped roughly 20% to 336.28 in recent action on the stock market…
Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Business
Ouster director Stephen Skaggs sells $227,701 in OUST shares

Ouster director Stephen Skaggs sells $227,701 in OUST shares
-
Politics5 days agoZack Polanski: an incitement to murder Nigel Farage?
-
Crypto World6 days agoMicroStrategy Post-Earnings CLARITY Act Push Could Add New Catalyst for Its Stock
-
Crypto World7 days agoXRP Ledger v3.3.0 brings five institutional features
-
Crypto World7 days agoNew York sues Kalshi over prediction market gambling
-
Crypto World6 days agoCrypto PAC spending tops $2M in Michigan House race
-
Business5 days agoDTCR: Deleveraging And A Hedge Fund Collapse Point To A Possible AI Bottom
-
Tech6 days agoESET tracks rise in malicious AI skills and adaptable malware
-
Sports6 days agoFrance Cricket implodes: letters hidden in a drawer and a board at war
-
Crypto World5 days agoXRP Ledger urges node upgrade after manifest flood
-
Crypto World7 days agoMoneyflip CEO charged in $40K murder-for-hire plot
-
Sports7 days agoBruno Fernandes decision made as Man United ‘discuss’ striker transfer option
-
News Videos6 days agoFinancial Crash Expert: The 90-Day Collapse Timeline They Are Desperately Hiding.
-
Sports2 days agoJordan Coyle & Cordiamo take Laya Arena Stakes at RDS
-
Crypto World4 days agoUS Tech Stocks See Largest 5-Week Inflow in History: Can Nasdaq Break Its Downtrend?
-
NewsBeat6 days agoTourist plane on sightseeing flight in Peru crashes into a field, killing all 13 people on board
-
NewsBeat6 days agoArsenal reach full agreement with Newcastle over Bruno Guimaraes transfer | Football
-
Tech6 days agoPage Not Found | WIRED
-
Fashion11 hours agoFrugal Friday’s Workwear Report: Cap-Sleeve Pointelle Crewneck Sweater
-
NewsBeat6 days agoBikini-clad Jennifer Aniston, 57, kisses hypnotist boyfriend Jim Curtis as they enjoy a romantic getaway aboard a luxury yacht in Spain
-
Politics2 days agoReform UK And Greens Sink To Lowest Favourability Ratings To Date

You must be logged in to post a comment Login