Select Water Solutions, Inc. - WTTR STOCK NEWS

Select Water Solutions (NYSE: WTTR) reported Q3 2024 financial results with revenue of $371 million, up 2% from Q2 2024. Net income increased 26% to $18.8 million, while Adjusted EBITDA grew 4% to $72.8 million. The Water Infrastructure segment showed strong performance with 20% sequential revenue growth and 33% increase in gross profit before D&A. The company secured multiple new long-term contracts for pipeline gathering, recycling & disposal infrastructure projects, with planned capital deployment of $37-42 million. However, Q4 2024 Adjusted EBITDA is expected to decrease to $60-62 million due to seasonal slowdown and temporary asset downtime for infrastructure upgrades.

Select Water Solutions (NYSE: WTTR) announced a 17% increase in its quarterly cash dividend to $0.07 per share of Class A common stock, payable on November 15, 2024, to shareholders of record as of November 5, 2024. A similar distribution will be made to SES Holdings unitholders. The company's CEO highlighted their commitment to shareholder returns, citing strong operating capabilities, cash flow generation, and infrastructure growth opportunities. The dividend increase reflects confidence in their capital efficient business model and expanding portfolio of contracted infrastructure and production-related revenue streams.

Select Water Solutions (NYSE: WTTR) has announced its schedule for the release of 2024 third quarter financial results. The company will release the results on Tuesday, November 5, 2024 after market close. A conference call is scheduled for Wednesday, November 6, 2024 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time).

Interested parties can participate in the call by dialing 201-389-0872 or by accessing the webcast at https://investors.selectwater.com/events-presentations/current. For those unable to attend the live call, a replay will be available until November 20, 2024, by dialing 201-612-7415 and using passcode 13749690#. Additionally, an archive of the webcast will be accessible on the company's website for 90 days following the call.

Select Water Solutions (NYSE: WTTR) reported strong Q2 2024 financial results, with revenue of $365 million and net income more than tripling sequentially. The company generated $83.1 million in operating cash flow and $37.4 million in free cash flow. The Water Infrastructure segment showed significant growth, with revenue up 8% and gross profit before D&A up 17% quarter-over-quarter. Select closed on multiple acquisitions and contracted new infrastructure projects in the Permian Basin. The company expects Adjusted EBITDA of $66-70 million for Q3 2024 and has increased its 2024 net capital expenditure forecast to $170-190 million due to additional growth opportunities.

Select Water Solutions (NYSE: WTTR), a leading provider of sustainable water and chemical solutions for the energy industry, has announced a quarterly cash dividend of $0.06 per share of Class A common stock. The dividend will be paid on August 16, 2024, to shareholders of record as of August 5, 2024. A comparable distribution of $0.06 per unit has also been approved for unitholders of SES Holdings, , subject to the same payment and record dates.

This decision demonstrates Select's commitment to returning value to shareholders. However, it's important to note that all future dividend payments will be subject to quarterly review and approval by Select's Board of Directors, indicating a cautious approach to financial management.

Select Water Solutions (NYSE: WTTR) has announced its schedule for the release of its 2024 second quarter financial results. The company will release the results on Tuesday, July 30, 2024 after the market closes. A conference call is scheduled for Wednesday, July 31, 2024, at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss the results.

Interested parties can participate in the call by dialing 201-389-0872 or by accessing the webcast at https://investors.selectwater.com/events-presentations/current. For those unable to attend the live call, a replay will be available until August 14, 2024, accessible by dialing 201-612-7415 and using passcode 13747951#. The webcast archive will also be available for 90 days after the call.

Select Water Solutions (NYSE: WTTR) has released its 2023 Sustainability Report, showcasing significant strides in environmental sustainability and operational excellence. In 2023, Select achieved a 9% reduction in combined Scope 1 and Scope 2 emissions intensity, treated or recycled 18.4 billion gallons of water (a 37% increase from 2022), and recycled 6.6 billion gallons at fixed facilities (a 47% increase from 2022).

The company exceeded its annual water recycling and employee safety targets embedded in its sustainability-linked credit facility by 319% and 57%, respectively. Select's advanced chemical solutions contribute to optimizing recycling processes and enhancing oil and gas production efficiency. Additionally, the report highlights key ESG performance metrics, including a 10% reduction in Scope 1 emissions intensity and a 2% reduction in Scope 2 emissions intensity, a diverse workforce with 53% representation from underrepresented ethnic groups, and a TRIR of 0.44.

The report aligns with external disclosure frameworks like TCFD, SASB, and GRI standards. For more details, visit Select's website.

Select Water Solutions (NYSE: WTTR) has announced its investor conference schedule for the second and third quarters of 2024. Key executives, including Chairman John Schmitz and CFO Chris George, will present and host one-on-one meetings at multiple events. These include the 14th Annual East Coast IDEAS Investor Conference on June 13 in New York, the J.P. Morgan Energy, Power & Renewables Conference on June 17, and the Calgary Stampede Conference on July 9.

Additional appearances are scheduled at the Industrial and Energy Showcase on August 8-9, Citi One-on-One Midstream and Energy Infrastructure Conference on August 13, EnerCom Energy Investment Conference on August 20, and more through September 18, 2024. The presentations and webcasts will be accessible on Select's Investor Relations website.

Select Water Solutions (NYSE: WTTR), a provider of sustainable water and chemical solutions for the energy industry, announced participation in the Water Tower Research Fireside Chat Series on May 22, 2024, at 11:00 a.m. Eastern Time. Key speakers will include John Schmitz, Chairman, President and CEO, and Chris George, EVP and CFO.

The event is open to all investors, who can register through a provided link. A replay of the webcast will be available afterward. This allows stakeholders to gain insights into the company's strategies and future outlook directly from top executives.