Solaris Oilfield Infrastructure reported Q1 2021 results highlighting a net loss of $1.9 million, improving from a loss of $33.2 million in Q1 2020. Revenues were $28.7 million, up 13% from Q4 2020 but down 40% year-over-year. Despite the financial challenges, the company maintained a positive cash flow for the ninth consecutive quarter and had $55.1 million in cash on hand. A quarterly dividend of $0.105 per share was declared, marking the tenth consecutive dividend payment since initiation. The firm anticipates capital expenditures between $10 million and $15 million for 2021.
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) will host a conference call on May 4, 2021, at 7:30 a.m. CT to discuss its first quarter 2021 results. The earnings release will be issued after market close on May 3, 2021. Participants can join the call via phone or webcast, with dial-in numbers provided for both U.S. and international callers. An audio replay will be available for a week post-call. Solaris specializes in mobile equipment enhancing efficiencies in oil and natural gas well completions, utilizing patented mobile proppant and chemical systems.
Solaris Oilfield Infrastructure (NYSE:SOI) has declared a quarterly cash dividend of $0.105 per share of Class A common stock, payable on March 25, 2021, to shareholders of record as of March 15, 2021. This dividend also applies to holders of units in Solaris Oilfield Infrastructure, LLC. Solaris provides mobile equipment enhancing supply chain efficiency in oil and gas wells and operates in the U.S.'s active oil and natural gas basins. Further details can be found on their website.
Solaris Oilfield Infrastructure (NYSE:SOI) reported its 2020 financial results, facing significant challenges due to the pandemic. The company experienced a net loss of $(51.1) million for the year, a stark contrast to a net income of $90.4 million in 2019. Revenues decreased by 57% to $103.0 million. Despite the tough environment, Solaris maintained positive cash flow for eight consecutive quarters, generating $39.2 million in free cash flow. The company declared a cash dividend of $0.105 per share in November 2020, marking its ninth consecutive quarterly dividend.
Solaris Oilfield Infrastructure (NYSE:SOI) expects a 20-25% increase in fully utilized proppant silo systems in Q4 2020 compared to Q3 2020, surpassing previous forecasts of flat growth. Chairman Bill Zartler noted a strong rebound in completion activity and ongoing system deployments, with January activity slightly exceeding fourth quarter averages. Solaris plans to discuss Q4 and full year results in a conference call on February 22, 2021. The company focuses on innovation and maximizing cash flow in a recovering market.
Solaris Oilfield Infrastructure (NYSE:SOI) has entered a collaboration with Amazon Web Services (AWS) aimed at enhancing oilfield data insights. This partnership will leverage AWS analytics capabilities such as Amazon Timestream and SageMaker to provide customers with better tools for data analysis and predictive maintenance. Solaris aims to improve operational efficiency and reduce costs through innovative data analytics, thereby allowing energy companies to optimize supply chains and enhance safety.
Solaris Oilfield Infrastructure (NYSE:SOI) reported its third quarter 2020 financial results with a net loss of $(3.3) million, an improvement from $(5.5) million in Q2 2020. Revenue increased 120% to $20.5 million, but decreased 66% year-over-year. Adjusted EBITDA was $3.1 million, up from $(0.4) million in Q2. The company utilized an average of 34 mobile proppant management systems, a 70% increase from Q2. Solaris maintained a positive free cash flow of $2.3 million and has $60.9 million in cash. It declared a cash dividend of $0.105 per share, marking its eighth consecutive quarterly dividend.