Select Water Solutions Q3 revenue $389M (+4% YoY); net income $15.3M; dividend raised 20%

Select Water Solutions, Inc.

Q3 revenue $389.3M (+4% YoY), net income $15.3M (vs $24.7M Q3'22), adjusted EBITDA $63.0M.
Water Infrastructure revenue $58.4M (+86% YoY); new 10-year contracts for Delaware Basin system with ~$10-12M capex.
Operating cash flow $118.2M; accounts receivable down $75M; debt-free with $249M liquidity.
Quarterly dividend increased 20% vs prior quarter; FY capital expenditure guidance tightened to $120-130M.
Water Services revenue $251.9M, Chemical Technologies $79.0M; both segments outperformed industry activity decline.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Select Water Solutions, Inc. reported the third quarter ended September 30, 2023 results: revenue $389.3 million, net income $15.3 million. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $389.3 million
Net income: $15.3 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue for the third quarter of 2023 was $389.3 million as compared to $404.6 million in the second quarter of 2023 and $375.1 million in the third quarter of 2022. Net income for the third quarter of 2023 was $15.3 million as compared to $22.6 million in the second quarter of 2023 and $24.7 million in the third quarter of 2022.

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Source: SEC EDGAR

accession 0000950170-23-056884

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