earnings
confidence high
sentiment positive
materiality 0.75
Select Energy Q3 revenue $204.6M (+27% QoQ); net loss narrows; M&A closed, new recycling contract
Select Water Solutions, Inc.
- Revenue $204.6M (+27% QoQ, +102% YoY); net loss $14.2M vs $19.6M QoQ; Adjusted EBITDA $15.1M (double QoQ).
- Closed acquisitions of Complete (July), UltRecovery (Aug), Agua Libre (Oct 1). Agua Libre adds $70-80M annualized revenue.
- Awarded 3-year take-or-pay contract for produced water recycling facility in DJ Basin; 15,000 bbl/day capacity, completion Q1 2022.
- Segment revenue: Water Services $112.5M (+46.7% QoQ), Water Infrastructure $36.8M (+10.4%), Oilfield Chemicals $55.4M (+8.3%).
- Cash and equivalents $107.4M; no revolver borrowings; total liquidity $232.2M as of Sept 30, 2021.