Select Water Solutions Announces First Quarter 2026 Financial, Operational and Strategic Updates
Rhea-AI Summary
Select Water Solutions (NYSE: WTTR) reported Q1 2026 revenue of $366.0M, up $19.4M (6%) sequentially, net income of $9.4M, and Adjusted EBITDA of $77.6M. Water Infrastructure revenue hit a record $96.7M (up 19.2% QoQ). Company closed $28.6M of Northern Delaware Basin acquisitions and raised full-year Water Infrastructure growth guidance to 25–30%.
Positive
- Revenue +6% sequential ($366.0M)
- Record Water Infrastructure revenue $96.7M (+19.2% QoQ)
- Adjusted EBITDA $77.6M, up $13.4M sequentially
- Closed $28.6M of Delaware Basin acquisitions (adds 30,000 bpd disposal)
- Raised Water Infrastructure full-year growth guidance to 25–30%
Negative
- First-quarter cash flow from operations only $10.2M (working capital increase $61.7M)
- Free cash flow in Q1 was negative $(67.1)M
- Net capital expenditures expected to rise to $200–250M for 2026
Key Figures
Market Reality Check
Peers on Argus
WTTR gained 1.16% with mixed peer action: EFXT, RES, VTOL and MRC were positive (MRC up 10.59%), while INVX declined 8.00%. No peers appeared in the momentum scanner, pointing to a more company-specific move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 17 | Q4/FY 2025 earnings | Positive | +8.7% | Reported 2025 revenue, net income and Adjusted EBITDA ahead of prior guidance ranges. |
| Nov 04 | Q3 2025 earnings | Positive | -1.7% | Q3 2025 results with higher revenue and EBITDA plus new Permian contracts and capex raise. |
| Aug 05 | Q2 2025 earnings | Positive | -5.6% | Strong Q2 2025 cash flow and EBITDA growth with Bakken asset swap and new contracts. |
| May 06 | Q1 2025 earnings | Positive | -11.4% | Q1 2025 revenue and EBITDA growth plus major Northern Delaware infrastructure expansion. |
| Feb 18 | Q4/FY 2024 earnings | Positive | -5.4% | Q4 and 2024 results with strong Water Infrastructure growth and higher 2025 guidance. |
Earnings releases have generally been operationally positive but often saw negative next-day moves, with only one of the last five earnings events showing a positive price alignment.
Over the last five earnings cycles, Select Water Solutions has repeatedly highlighted growth in its Water Infrastructure segment, expanding long-term acreage dedications and minimum volume commitments. Prior releases pointed to rising Adjusted EBITDA and sizable annual net capital expenditure plans in the $170–275 million range. Despite these constructive updates, four of five earnings events saw negative next-day price reactions. Today’s Q1 2026 report continues the theme of infrastructure-led growth and higher Adjusted EBITDA while the stock traded near its 52-week high before this release.
Historical Comparison
Past earnings headlines led to an average move of -3.08%. Against that backdrop, WTTR’s pre‑news level near $16.61 and a modest 1.16% gain looked more constructive than typical reactions.
Earnings updates consistently emphasize expanding Water Infrastructure networks, recurring long‑term contracts, and sizeable net capex plans aimed at driving higher Adjusted EBITDA and margins over time.
Regulatory & Risk Context
An effective S-3ASR shelf filed on February 19, 2026 allows WTTR to issue Class A common stock, preferred stock, depositary shares and warrants from time to time for general corporate purposes, with specific terms to be set in future prospectus supplements.
Market Pulse Summary
This announcement highlights Q1 2026 revenue of $366.0 million, improved gross margin of 17.8%, and Adjusted EBITDA of $77.6 million, alongside record Water Infrastructure revenue. Management details sizeable net capex of $77.3 million, recent acquisitions totaling $28.6 million, and liquidity supported by equity offering proceeds of $191.7 million. Historically, earnings updates have sometimes met with choppy trading, so investors may track future quarters for cash generation, infrastructure ramp-up, and execution on long-term contracts.
Key Terms
adjusted EBITDA financial
gross margin financial
minimum volume commitments financial
MVCs financial
right-of-first-refusal financial
ROFR financial
free cash flow financial
sustainability-linked credit facility financial
AI-generated analysis. Not financial advice.
Generated first quarter 2026 consolidated revenue of
Increased net income by
Generated record quarterly Water Infrastructure revenue of
Announces multiple new long-term contracted Water Infrastructure projects in the Permian, Bakken, MidCon and Northeast regions
Announces
John Schmitz, Chairman of the Board, President and CEO, stated, "The first quarter represented a strong start to the year for Select. During the first quarter of 2026, we delivered strong consolidated revenue growth, coupled with an increase in our gross margins, and drove an
"In our Water Infrastructure segment, we increased both our recycling and disposal volumes during the first quarter of 2026, with approximately 1.4 million barrels of produced water recycled or disposed per day, resulting in record quarterly segment revenue of
"Supported by the strong outperformance during the first quarter, our Water Infrastructure segment is well on track to exceed the high end of our previously guided range of 20 –
"Our Chemical Technologies segment performed as expected in the first quarter and we expect strong double-digit percentage sequential revenue growth during the second quarter. With continued demand for new product development in both our core friction reducer product lines as well as our specialty surfactant product offerings, we believe we are well positioned for future growth opportunities.
"Our Water Services segment meaningfully outperformed our expectations during the first quarter, with revenue growth of more than
"In summary, I am pleased with our financial performance in the first quarter of 2026, and I am very excited as the ongoing evolution of our strategy continues to materialize. We look forward to building on these recent successes to continue serving our valued customers, employees, and stakeholders," concluded Schmitz.
First Quarter 2026 Consolidated Financial Information
Revenue for the first quarter of 2026 was
For the first quarter of 2026, gross profit was
SG&A during the first quarter of 2026 was
Adjusted EBITDA was
Business Segment Information
The Water Infrastructure segment generated revenues of
The Water Services segment generated revenues of
The Chemical Technologies segment generated revenues of
Cash Flow and Capital Expenditures
Cash flow provided by operations for the first quarter of 2026 was
Net capital expenditures for the first quarter of 2026 were
Cash flows from financing activities during the first quarter of 2026 included
Balance Sheet and Capital Structure
Total cash and cash equivalents were
As of March 31, 2026, the borrowing base under the Company's sustainability-linked credit facility was
Total liquidity was
Water Infrastructure Commercial Development and Acquisition Updates
Since the start of the first quarter of 2026, Select has executed multiple new long-term contracts for additional full life-cycle produced water gathering, recycling and distribution infrastructure projects in the Permian, Bakken, MidCon, and Northeast regions. Additionally, Select has made multiple infrastructure acquisitions totaling
In the first quarter of 2026, Select signed a 12-year agreement for the construction of pipeline infrastructure for an operator in the
Northeast Produced Water Disposal and Services Agreement
In the first quarter of 2026, Select signed a multi-year agreement with an operator in the Northeast region that provides Select with a ROFR award for a minimum of
Delaware Disposal Acquisition
Subsequent to the end of the first quarter of 2026, Select acquired disposal facilities, water rights and storage infrastructure in the
Subsequent to the end of the first quarter of 2026, Select acquired the Black River Ranch ("BRR") in
First Quarter Earnings Conference Call
In conjunction with today's release, Select has scheduled a conference call on Wednesday, May 6, 2026, at 11:00 a.m. Eastern time / 10:00 a.m. Central time. Please dial 201-389-0872 and ask for the Select Water Solutions call at least 10 minutes prior to the start time of the call, or listen to the call live over the Internet by logging on to the website at the address https://investors.selectwater.com/events-presentations/current. A telephonic replay of the conference call will be available through May 20, 2026, and may be accessed by calling 201-612-7415 using passcode 13757760#. A webcast archive will also be available at the link above shortly after the call and will be accessible for approximately 90 days.
About Select Water Solutions, Inc.
Select is a leading provider of sustainable water and chemical solutions to the energy industry. These solutions are supported by the Company's critical water infrastructure assets, chemical manufacturing and water treatment and recycling capabilities. As a leader in sustainable water and chemical solutions, Select places the utmost importance on safe, environmentally responsible management of water throughout the lifecycle of a well. Additionally, Select believes that responsibly managing water resources throughout its operations to help conserve and protect the environment is paramount to the Company's continued success. For more information, please visit Select's website, https://www.selectwater.com.
Cautionary Statement Regarding Forward-Looking Statements
All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast" "intend," "may," "plan," "potential," "preliminary," "project," "see," "should," "will," and other similar expressions. Examples of forward-looking statements include, but are not limited to, the expectations of plans, business strategies, objectives and growth, projected financial results and future financial and operational performance, expected capital expenditures, our share repurchase program and future dividends. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include the risks that the benefits contemplated from our recent acquisitions may not be realized, the ability of Select to successfully integrate the acquired businesses' operations, including employees, and realize anticipated synergies and cost savings and the potential impact of the consummation of the acquisitions on relationships, including with employees, suppliers, customers, competitors and creditors. Factors that could materially impact such forward-looking statements include, but are not limited to: global economic distress, including that resulting from the sustained
SELECT WATER SOLUTIONS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except share and per share data) | |||||||||
Three months ended, | |||||||||
Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | |||||||
Revenue | |||||||||
Water Infrastructure | $ | 96,736 | $ | 81,188 | $ | 72,391 | |||
Water Services | 191,231 | 178,340 | 225,648 | ||||||
Chemical Technologies | 77,991 | 86,974 | 76,345 | ||||||
Total revenue | 365,958 | 346,502 | 374,384 | ||||||
Costs of revenue | |||||||||
Water Infrastructure | 42,352 | 37,272 | 33,493 | ||||||
Water Services | 149,454 | 143,400 | 181,718 | ||||||
Chemical Technologies | 63,130 | 69,319 | 64,728 | ||||||
Depreciation, amortization and accretion | 45,742 | 51,190 | 38,675 | ||||||
Total costs of revenue | 300,678 | 301,181 | 318,614 | ||||||
Gross profit | 65,280 | 45,321 | 55,770 | ||||||
Operating expenses | |||||||||
Selling, general and administrative | 40,551 | 43,275 | 37,432 | ||||||
Depreciation, amortization and accretion | 1,121 | 1,168 | 925 | ||||||
Impairments and abandonments | 5,708 | 1,317 | 1,148 | ||||||
Lease abandonment costs | (68) | (51) | 724 | ||||||
Total operating expenses | 47,312 | 45,709 | 40,229 | ||||||
Income from operations | 17,968 | (388) | 15,541 | ||||||
Other income (expense) | |||||||||
Gain (loss) on sales of property and equipment and divestitures, net | 405 | (130) | 1,365 | ||||||
Interest expense, net | (5,907) | (6,697) | (4,876) | ||||||
Tax receivable agreements expense | — | (4,995) | — | ||||||
Other | (311) | 715 | 329 | ||||||
Income (loss) before income tax (expense) benefit and equity in (losses) earnings of | 12,155 | (11,495) | 12,359 | ||||||
Income tax (expense) benefit | (2,433) | 9,457 | (2,894) | ||||||
Equity in (losses) earnings of unconsolidated entities | (290) | (20) | 95 | ||||||
Net income (loss) | 9,432 | (2,058) | 9,560 | ||||||
Less: net (income) loss attributable to noncontrolling interests | (826) | 1,712 | (1,321) | ||||||
Net income (loss) attributable to Select Water Solutions, Inc. | $ | 8,606 | $ | (346) | $ | 8,239 | |||
Weighted average shares outstanding | |||||||||
Class A—Basic | 110,145,655 | 102,585,084 | 100,790,931 | ||||||
Class B—Basic | 16,221,101 | 16,221,101 | 16,221,101 | ||||||
Net income (loss) per share attributable to common stockholders: | |||||||||
Class A—Basic | $ | 0.08 | $ | (0.00) | $ | 0.08 | |||
Class B—Basic | $ | — | $ | — | $ | — | |||
Weighted average shares outstanding | |||||||||
Class A—Diluted | 112,530,858 | 102,585,084 | 103,313,924 | ||||||
Class B—Diluted | 16,221,101 | 16,221,101 | 16,221,101 | ||||||
Net income (loss) per share attributable to common stockholders: | |||||||||
Class A—Diluted | $ | 0.08 | $ | (0.00) | $ | 0.08 | |||
Class B—Diluted | $ | — | $ | — | $ | — | |||
SELECT WATER SOLUTIONS, INC. CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share data) | |||||||||||
March 31, 2026 | December 31, 2025 | March 31, 2025 | |||||||||
Assets | |||||||||||
Current assets | |||||||||||
Cash and cash equivalents | $ | 55,970 | $ | 18,084 | $ | 27,892 | |||||
Accounts receivable trade, net of allowance for credit losses | 317,748 | 263,965 | 338,129 | ||||||||
Accounts receivable, related parties | 22 | 63 | 194 | ||||||||
Inventories | 37,313 | 34,278 | 40,795 | ||||||||
Prepaid expenses and other current assets | 33,357 | 37,996 | 50,840 | ||||||||
Total current assets | 444,410 | 354,386 | 457,850 | ||||||||
Property and equipment | 1,672,966 | 1,629,406 | 1,471,791 | ||||||||
Accumulated depreciation | (736,935) | (717,223) | (704,300) | ||||||||
Total property and equipment, net | 936,031 | 912,183 | 767,491 | ||||||||
Right-of-use assets, net | 32,195 | 28,708 | 33,511 | ||||||||
Goodwill | 48,485 | 48,485 | 18,215 | ||||||||
Other intangible assets, net | 101,999 | 106,204 | 119,337 | ||||||||
Deferred tax assets, net | 48,337 | 48,881 | 43,851 | ||||||||
Investments in unconsolidated entities | 77,709 | 78,234 | 83,501 | ||||||||
Other long-term assets | 17,709 | 18,531 | 21,455 | ||||||||
Total assets | $ | 1,706,875 | $ | 1,595,612 | $ | 1,545,211 | |||||
Liabilities and Equity | |||||||||||
Current liabilities | |||||||||||
Accounts payable | $ | 55,065 | $ | 49,682 | $ | 44,996 | |||||
Accrued accounts payable | 36,846 | 46,275 | 111,144 | ||||||||
Accounts payable and accrued expenses, related parties | 3,583 | 3,634 | 5,904 | ||||||||
Accrued salaries and benefits | 15,772 | 17,702 | 15,345 | ||||||||
Accrued insurance | 18,722 | 22,272 | 21,698 | ||||||||
Sales tax payable | 3,142 | 2,435 | 2,139 | ||||||||
Current portion of tax receivable agreements liabilities | — | — | 17 | ||||||||
Accrued expenses and other current liabilities | 36,573 | 37,549 | 32,338 | ||||||||
Current operating lease liabilities | 14,343 | 14,247 | 15,814 | ||||||||
Current portion of long-term debt | 46,875 | 31,250 | — | ||||||||
Current portion of finance lease obligations | 655 | 650 | 490 | ||||||||
Total current liabilities | 231,576 | 225,696 | 249,885 | ||||||||
Long-term tax receivable agreements liabilities | 43,421 | 43,421 | 38,409 | ||||||||
Long-term operating lease liabilities | 23,724 | 21,533 | 27,952 | ||||||||
Long-term debt, net of deferred debt issuance costs | 199,645 | 285,043 | 245,888 | ||||||||
Other long-term liabilities | 88,876 | 92,852 | 66,128 | ||||||||
Total liabilities | 587,242 | 668,545 | 628,262 | ||||||||
Commitments and contingencies | |||||||||||
Class A common stock, | 1,218 | 1,049 | 1,039 | ||||||||
Class B common stock, | 162 | 162 | 162 | ||||||||
Additional paid-in capital | 1,166,419 | 989,329 | 989,785 | ||||||||
Accumulated deficit | (176,318) | (184,924) | (197,908) | ||||||||
Total stockholders' equity | 991,481 | 805,616 | 793,078 | ||||||||
Noncontrolling interests | 128,152 | 121,451 | 123,871 | ||||||||
Total equity | 1,119,633 | 927,067 | 916,949 | ||||||||
Total liabilities and equity | $ | 1,706,875 | $ | 1,595,612 | $ | 1,545,211 | |||||
SELECT WATER SOLUTIONS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands) | |||||||||||||||||
Three months ended | |||||||||||||||||
March 31, 2026 | December 31, 2025 | March 31, 2025 | |||||||||||||||
Cash flows from operating activities | |||||||||||||||||
Net income (loss) | $ | 9,432 | $ | (2,058) | $ | 9,560 | |||||||||||
Adjustments to reconcile net income (loss) to net cash provided | |||||||||||||||||
Depreciation, amortization and accretion | 46,863 | 52,358 | 39,600 | ||||||||||||||
Deferred tax expense (benefit) | 2,394 | (8,782) | 2,486 | ||||||||||||||
Tax receivable agreements expense | — | 4,995 | — | ||||||||||||||
(Gain) loss on disposal of property and equipment and divestitures | (405) | 130 | (1,365) | ||||||||||||||
Equity in losses (earnings) of unconsolidated entities | 290 | 20 | (95) | ||||||||||||||
Credit loss expense (recovery) | 737 | (135) | 514 | ||||||||||||||
Amortization and write off of debt issuance costs | 413 | 413 | 998 | ||||||||||||||
Inventory adjustments | 98 | 23 | (40) | ||||||||||||||
Equity-based compensation | 5,825 | 5,798 | 3,481 | ||||||||||||||
Impairments and abandonments | 5,708 | 1,317 | 1,148 | ||||||||||||||
Other operating items, net | 598 | 669 | 487 | ||||||||||||||
Changes in operating assets and liabilities | |||||||||||||||||
Accounts receivable | (54,479) | 13,098 | (57,117) | ||||||||||||||
Prepaid expenses and other assets | 2,100 | 13,576 | (8,666) | ||||||||||||||
Accounts payable and accrued liabilities | (9,332) | (15,970) | 3,948 | ||||||||||||||
Net cash provided by (used in) operating activities | 10,242 | 65,452 | (5,061) | ||||||||||||||
Cash flows from investing activities | |||||||||||||||||
Purchase of property and equipment | (78,377) | (71,499) | (48,427) | ||||||||||||||
Purchase of equity-method investments | — | — | (72,059) | ||||||||||||||
Acquisitions, net of cash received | (210) | (1,251) | (13,980) | ||||||||||||||
Proceeds received from sales of property and equipment | 1,056 | 1,494 | 1,944 | ||||||||||||||
Net cash used in investing activities | (77,531) | (71,256) | (132,522) | ||||||||||||||
Cash flows from financing activities | |||||||||||||||||
Borrowings from revolving line of credit | 43,500 | 26,500 | 40,000 | ||||||||||||||
Payments on revolving line of credit | (113,500) | (11,500) | (125,000) | ||||||||||||||
Borrowings from long-term debt | — | — | 250,000 | ||||||||||||||
Payments of finance lease obligations | (158) | (159) | (89) | ||||||||||||||
Payments of debt issuance costs | — | — | (7,352) | ||||||||||||||
Net proceeds from underwritten offering | 191,705 | — | — | ||||||||||||||
Dividends and distributions paid | (8,752) | (8,405) | (8,567) | ||||||||||||||
Payments under tax receivable agreement | — | — | (77) | ||||||||||||||
Contributions from noncontrolling interests | — | — | 2,875 | ||||||||||||||
Repurchase of common stock | (7,618) | (377) | (6,291) | ||||||||||||||
Net cash provided by financing activities | 105,177 | 6,059 | 145,499 | ||||||||||||||
Effect of exchange rate changes on cash | (2) | 1 | (2) | ||||||||||||||
Net increase in cash and cash equivalents | 37,886 | 256 | 7,914 | ||||||||||||||
Cash and cash equivalents, beginning of period | 18,084 | 17,828 | 19,978 | ||||||||||||||
Cash and cash equivalents, end of period | $ | 55,970 | $ | 18,084 | $ | 27,892 | |||||||||||
Comparison of Non-GAAP Financial Measures
EBITDA, Adjusted EBITDA, gross profit before depreciation, amortization and accretion ("D&A"), gross margin before D&A and free cash flow are not financial measures presented in accordance with accounting principles generally accepted in the
Net income (loss) is the GAAP measure most directly comparable to EBITDA and Adjusted EBITDA. Gross profit and gross margin are the GAAP measures most directly comparable to gross profit before D&A and gross margin before D&A, respectively. Net cash provided by (used in) operating activities is the GAAP measure most directly comparable to free cash flow. Our non-GAAP financial measures should not be considered as alternatives to the most directly comparable GAAP financial measure. Each of these non-GAAP financial measures has important limitations as an analytical tool due to exclusion of some but not all items that affect the most directly comparable GAAP financial measures. You should not consider EBITDA, Adjusted EBITDA, gross profit before D&A, gross margin before D&A or free cash flow in isolation or as substitutes for an analysis of our results as reported under GAAP. Because EBITDA, Adjusted EBITDA, gross profit before D&A, gross margin before D&A and free cash flow may be defined differently by other companies in our industry, our definitions of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.
For forward-looking non-GAAP measures, the Company is unable to provide a reconciliation of the forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measure as the information necessary for a quantitative reconciliation, including potential acquisition-related transaction costs as well as the purchase price accounting allocation of the recent acquisitions and the resulting impacts to depreciation, amortization and accretion expense, among other items is not available to the Company without unreasonable efforts due to the inherent difficulty and impracticability of predicting certain amounts required by GAAP with a reasonable degree of accuracy at this time.
The following table presents a reconciliation of free cash flow to net cash provided by (used in) operating activities, which is the most directly comparable GAAP measure for the periods presented:
Three months ended | |||||||||||
March 31, 2026 | December 31, 2025 | March 31, 2025 | |||||||||
(unaudited) (in thousands) | |||||||||||
Net cash provided by (used in) operating activities | $ | 10,242 | $ | 65,452 | $ | (5,061) | |||||
Purchase of property and equipment | (78,377) | (71,499) | (48,427) | ||||||||
Proceeds received from sale of property and equipment | 1,056 | 1,494 | 1,944 | ||||||||
Free cash flow | $ | (67,079) | $ | (4,553) | $ | (51,544) | |||||
The following table presents a reconciliation of EBITDA and Adjusted EBITDA to our net income (loss), which is the most directly comparable GAAP measure for the periods presented:
Three months ended, | ||||||||||
March 31, 2026 | December 31, 2025 | March 31, 2025 | ||||||||
(unaudited) (in thousands) | ||||||||||
Net income (loss) | $ | 9,432 | $ | (2,058) | $ | 9,560 | ||||
Interest expense, net | 5,907 | 6,697 | 4,876 | |||||||
Income tax expense (benefit) | 2,433 | (9,457) | 2,894 | |||||||
Depreciation, amortization and accretion | 46,863 | 52,358 | 39,600 | |||||||
EBITDA | 64,635 | 47,540 | 56,930 | |||||||
Tax receivable agreements expense | — | 4,995 | — | |||||||
Impairments and abandonments | 5,708 | 1,317 | 1,148 | |||||||
Non-cash loss on sale of assets or subsidiaries | 42 | 87 | 173 | |||||||
Non-cash compensation expenses | 6,020 | 5,798 | 3,481 | |||||||
Transaction costs | 327 | 3,779 | 1,183 | |||||||
Lease abandonment costs | (68) | (51) | 724 | |||||||
Other non-recurring charges | 670 | 672 | 487 | |||||||
Equity in losses (earnings) of unconsolidated entities | 290 | 20 | (95) | |||||||
Adjusted EBITDA | $ | 77,624 | $ | 64,157 | $ | 64,031 | ||||
The following table presents a reconciliation of gross profit before D&A to total gross profit, which is the most directly comparable GAAP measure, and a calculation of gross margin before D&A for the periods presented:
Three months ended, | |||||||||
March 31, 2026 | December 31, 2025 | March 31, 2025 | |||||||
(unaudited) (in thousands) | |||||||||
Gross profit by segment | |||||||||
Water Infrastructure | $ | 26,338 | $ | 10,970 | $ | 19,101 | |||
Water Services | 25,865 | 18,369 | 26,765 | ||||||
Chemical technologies | 13,077 | 15,982 | 9,904 | ||||||
As reported gross profit | 65,280 | 45,321 | 55,770 | ||||||
Plus D&A | |||||||||
Water Infrastructure | 28,046 | 32,946 | 19,797 | ||||||
Water Services | 15,912 | 16,571 | 17,165 | ||||||
Chemical technologies | 1,784 | 1,673 | 1,713 | ||||||
Total D&A | 45,742 | 51,190 | 38,675 | ||||||
Gross profit before D&A | $ | 111,022 | $ | 96,511 | $ | 94,445 | |||
Gross profit before D&A by segment | |||||||||
Water Infrastructure | 54,384 | 43,916 | 38,898 | ||||||
Water Services | 41,777 | 34,940 | 43,930 | ||||||
Chemical technologies | 14,861 | 17,655 | 11,617 | ||||||
Total gross profit before D&A | $ | 111,022 | $ | 96,511 | $ | 94,445 | |||
Gross margin before D&A by segment | |||||||||
Water Infrastructure | 56.2 % | 54.1 % | 53.7 % | ||||||
Water Services | 21.8 % | 19.6 % | 19.5 % | ||||||
Chemical technologies | 19.1 % | 20.3 % | 15.2 % | ||||||
Total gross margin before D&A | 30.3 % | 27.9 % | 25.2 % | ||||||
Contacts: | Select Water Solutions, Inc. |
Garrett Williams – VP, Corporate Finance & Investor Relations | |
(713) 296-1010 | |
Dennard Lascar Investor Relations | |
Ken Dennard / Natalie Hairston | |
(713) 529-6600 | |
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SOURCE Select Water Solutions, Inc.