Select Water Q2 adjusted EBITDA $72.6M, net income up 22%; Bakken swap, Peak strategic review

Select Water Solutions, Inc.

Q2 revenue $364.2M (-2.7% QoQ); net income $11.7M (+22% QoQ); adjusted EBITDA $72.6M (+13.4% QoQ).
Water Infrastructure revenue $80.9M (+12% QoQ); gross margin before D&A 55.2%; 20% YoY growth expected in 2026.
Closed asset swap with OMNI: acquired Bakken landfill/treatment assets; divested trucking ops for $17.7M cash + 862K shares.
Evaluating strategic alternatives for Peak Rentals; Scott McNeill appointed CEO of Peak to lead capital formation.
New Permian contracts: 12-year and 8-year deals; ~59K dedicated acres and 385K ROFR acres; capex ~$40M.

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