Select Water Q3 rev $322M, net income $2.3M; adds 65K acres of infrastructure dedications

Select Water Solutions, Inc.

Q3 rev $322M (vs $371M YoY), net income $2.3M (vs $18.8M), Adj. EBITDA $59.5M (vs $72.8M).
Chemical Technologies rev +13% q/q, gross profit +34% q/q on market share gains.
Signed long-term contracts adding ~65K acres across Permian; 12-year agreements in Delaware Basin.
Q4 Adj. EBITDA guided $60-$64M; 2025 net capex raised to $250-$275M.
Free cash flow -$19.4M in Q3; liquidity $175.5M down from $279.3M in Q2.

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