Select Energy Services reports Q4 2022 revenue of $382M, full-year $1.4B, and announces acquisitions and rebranding

Select Water Solutions, Inc.

Full year 2022 revenue of $1.4 billion, up 81% from 2021; Q4 2022 revenue of $382 million, up 2% sequentially.
Net income for full year 2022 was $54.9 million, compared to a net loss of $50.1 million in 2021.
Acquired Permian Basin water infrastructure for ~$44 million, including pipelines, storage, disposal, and buyout of joint venture interests.
Announced rebranding to Select Water Solutions, Inc., effective first half 2023, retaining ticker WTTR.
Entered 10-year agreement for Delaware Basin recycling project with 100,000 bbl/day capacity, total cost $10-11 million.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.92

Select Water Solutions, Inc. reported the fourth quarter and year ended December 31, 2022 results: revenue $1.4 billion.

Period: the fourth quarter and year ended December 31, 2022
Revenue: $1.4 billion
Result: reported results

Exact text from the filing

Inc., further aligning the brand with the Company's vision to be the recognized leader and trusted partner in sustainable water management solutions Generated revenue of $1.4 billion for full year 2022 and $382 million during the fourth quarter of 2022, up 81% annually from 2021 and up 2% sequentially from the third quarter of 2022 Acquired strategic

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Source: SEC EDGAR

accession 0000950170-23-003465

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