Select Energy Q1 revenue $417M record; net income $13.7M (+81% QoQ); Adj EBITDA $67.2M

Select Water Solutions, Inc.

Revenue $416.6M record, up 9% QoQ, 41% YoY; net income $13.7M (+81% QoQ).
Adjusted EBITDA $67.2M (+29% QoQ); Water Infrastructure rev $101.5M (+32% QoQ).
Cash flow ops -$18M due to $78.6M working capital build; targeting $75M AR reduction by end 2023.
Repurchased $8M shares in March, additional $25M through April; $50M authorization reinitiated.
Signed multiple long-term infrastructure projects with MVCs in Haynesville, Midcon, DJ Basin, East Texas.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Select Water Solutions, Inc. reported first quarter ended March 31, 2023 results: revenue $416.6 million, net income $13.7 million.

Period: first quarter ended March 31, 2023
Revenue: $416.6 million
Net income: $13.7 million
Result: reported results

Exact text from the filing

Revenue for the first quarter of 2023 was $416.6 million as compared to $381.7 million in the fourth quarter of 2022 and $294.8 million in the first quarter of 2022. Net income for the first quarter of 2023 was $13.7 million as compared to $7.6 million in the fourth quarter of 2022 and $8.0 million in the first quarter of 2022.

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Select Water Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-016793

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