Select Water Solutions Q2 net income triples to $14.9M; Adj. EBITDA $69.6M, guides Q3 flat

Select Water Solutions, Inc.

Revenue $365.1M, flat sequentially but down 9.8% YoY; gross margin expanded to 16.5% from 14.4% Q1.
Water Infrastructure segment gross margin before D&A hit 51.0%, 407 bps sequential improvement.
Closed $9M NE disposal assets acquisition and $29.4M Trinity acquisition; signed Permian contracts with $55-60M capex.
Q3 2024 Adj. EBITDA guidance $66-70M; net capex guidance raised to $170-190M for growth projects.
Operating cash flow $83.1M, free cash flow $37.4M; liquidity $129.8M as of June 30.

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