Solaris Q4 revenue $63M (-25% YoY), EPS $0.14; maintains $0.12 dividend; 2024 capex <$15M

Solaris Energy Infrastructure, Inc.

Revenue $63M (-9% QoQ, -25% YoY); diluted EPS $0.14; adjusted pro forma EPS $0.15.
Adjusted EBITDA $21M (-7% YoY); followed avg 64 frac crews (-4% QoQ).
Cash from ops $24M, free cash flow $16M; reduced net borrowings $7M, net debt $24M.
Approved Q1 2024 dividend $0.12/share; repurchased 1.1M shares Jan-Feb for ~$8M.
FY2024 capex guidance <$15M (>75% reduction from FY2023 $64M).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Solaris Energy Infrastructure, Inc. reported Fourth quarter 2023 results: revenue $63 million, net income $7 million, EPS $0.14 per diluted Class A share.

Period: Fourth quarter 2023
Revenue: $63 million
Net income: $7 million
EPS: $0.14 per diluted Class A share
Result: reported results

Exact text from the filing

Solaris Oilfield Infrastructure Announces Fourth Quarter and Full Year 2023 Results and Announces Continued Shareholder Returns for First Quarter 2024 Fourth Quarter 2023 Summary Results and Shareholder Return Highlights ● Revenue of $63 million ● Net income of $7 million, or $0.14 per diluted Class A share; Adjusted pro forma net income of $7 million, or $0.15 per fully diluted share ● Adjusted EBITDA of $21 million ● Generated $24 million of cash flow from operations and $16 million in free cash flow; reduced borrowings outstanding on the credit facility by $7 million ● Returned a total of $47 million to shareholders in 2023 through share repurchases and dividends ● Solaris’ fourth quarter 2023 dividend of $0.12 per share, which was paid on December 11, 2023, was a 9% increase from the prior quarter and represented Solaris’ third per-share dividend raise since initiation

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Solaris Energy Infrastructure, Inc. filing history →

Source: SEC EDGAR

accession 0001697500-24-000020

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