Select Water Solutions reports Q2 EPS 10c, consensus 14c

Reports Q2 revenue $364.21M, consensus $364.86M. John Schmitz, Chairman of the Board, President and CEO, stated, “During the Q2, Select improved its profitability and cash flow while continuing to advance its strategic objectives to grow Water Infrastructure scale and margin. In the Q2, we increased net income by 22% and adjusted EBITDA by 13% when compared to the Q1 and improved consolidated margins despite modestly reduced consolidated revenue levels. In our Water Infrastructure segment, we increased both our recycling and disposal volumes during the Q2, resulting in sequential increases in revenue and gross profit of approximately 12% and 17%, respectively. Gross margins before D&A for the Water Infrastructure segment increased to 55% during the quarter, which is a testament to the team’s ability to add accretive volumetric throughput across our large-scale water networks.”