Select Water Q1 revenue $366.5M, Adj. EBITDA $59.8M; guides Q2 EBITDA $64-68M

Select Water Solutions, Inc.

Net income $3.9M; adjusted EBITDA $59.8M, up 3% sequentially from Q4 2023.
Water Infrastructure segment revenue $63.5M (+4.4% seq); gross margin before D&A 46.9%.
Closed acquisitions of Buckhorn (Bakken, March 1) and Trinity (Permian, April 1) for $29.4M cash.
Q2 2024 guidance: Adj. EBITDA $64-68M; expects >40% EBITDA conversion to FCF for 2024.
Signed four long-term contracts in Permian/Haynesville with $15-17M combined capex.

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 the first quarter ended March 31, 2024 results: revenue $366.5 million, net income $3.9 million. Guidance initiated.

Period: the first quarter ended March 31, 2024
Revenue: $366.5 million
Net income: $3.9 million
Guidance: initiated
Result: reported results

Exact text from the filing

Revenue for the first quarter of 2024 was $366.5 million as compared to $374.9 million in the fourth quarter of 2023 and $416.6 million in the first quarter of 2023. Net income for the first quarter of 2024 was $3.9 million as

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Source: SEC EDGAR

accession 0001140361-24-023422

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