Select Energy Q3 revenue $375M, net income $24.7M; acquires Breakwater and Cypress assets

Select Water Solutions, Inc.

Q3 revenue $375.1M (+12% sequential); net income $24.7M; Adjusted EBITDA $62.8M (+32% sequential).
Acquired Breakwater Energy Partners for ~9.2M shares + ~$12.6M debt; Cypress Bakken assets for ~0.95M shares.
Acquisitions expected to generate ~$110-115M revenue and >$30M Adjusted EBITDA on full-year 2022 basis.
Commenced quarterly dividend of $0.05/share for Q3; no debt drawn on credit facility; liquidity $244.7M.
Q4 guidance: Water Infrastructure low double-digit revenue growth; Oilfield Chemicals mid-single-digit growth.

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 third quarter ended September 30, 2022 results: revenue $375.1 million, net income $24.7 million.

Period: third quarter ended September 30, 2022
Revenue: $375.1 million
Net income: $24.7 million
Result: reported results

Exact text from the filing

Revenue for the third quarter of 2022 was $375.1 million as compared to $335.9 million in the second quarter of 2022 and $204.6 million in the third quarter of 2021. Net income for the third quarter of 2022 was $24.7 million as compared to $14.6 million in the second quarter of 2022 and a net loss of $14.2 million in the third quarter of 2021.

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Select Water Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001564590-22-036207

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