Welcome to our dedicated page for Select Water Solutions news (Ticker: WTTR), a resource for investors and traders seeking the latest updates and insights on Select Water Solutions stock.
Select Water Solutions, Inc. (NYSE: WTTR) stands as a prominent provider of sustainable water and chemical solutions dedicated to the energy industry. Headquartered in Houston, Texas, the company has expanded since its inception in 2007 in Gainesville, Texas, and now employs nearly 2,000 professionals. Select Water Solutions operates in every major shale play across the United States, servicing over 400 customers and delivering innovative, efficient end-to-end water solutions to oilfield operators.
At the core of Select's operations lies a focus on sustainability and safety. The company is known for its critical water infrastructure assets, chemical manufacturing, and advanced water treatment and recycling capabilities. The company's commitment to providing environmentally responsible water management solutions has made it a trusted partner in the industry.
Key Business Segments:
- Water Services: This segment generates the majority of Select's revenue and includes water sourcing, transportation, treatment, and recycling services.
- Water Infrastructure: Select develops and operates water pipelines, storage, and recycling facilities, ensuring efficient water management for its clients.
- Chemical Technologies: The company manufactures and supplies a range of chemical solutions tailored to enhance oilfield operations.
Recent Achievements:
- Financial Strength: In the third quarter of 2023, Select reported revenue of $389.3 million, maintaining strong operating cash flows and a debt-free balance sheet.
- New Projects: The company has undertaken significant infrastructure projects in the Northern Delaware Basin and East Texas, enhancing its water gathering and distribution capabilities.
- Strategic Acquisitions: Recent acquisitions of Trinity Environmental Services and Buckhorn Waste Services have expanded Select's operational footprint and service offerings.
- Innovative Partnerships: Collaboration with Occidental at the South Curtis Ranch facility has resulted in the treatment and recycling of 50 million barrels of produced water, demonstrating the company's commitment to environmental stewardship.
Focus on Sustainability: Select places a high priority on the safe, environmentally responsible management of water throughout the lifecycle of a well. The company continues to invest in infrastructure that supports water recycling and distribution, significantly reducing freshwater consumption and waste.
For more up-to-date information and detailed financial results, visit Select's website at https://www.selectwater.com.
Select Energy Services (NYSE: WTTR) announced a quarterly cash dividend of $0.05 per share, payable on February 17, 2023. Shareholders of record will be those held by the close of business on February 7, 2023. This dividend reflects the company's commitment to providing value to its investors, as all future payments are subject to quarterly review by the Board of Directors. Select is recognized for its sustainable water and chemical solutions within the energy sector, emphasizing environmentally responsible practices.
Select Energy Services (NYSE: WTTR) reported third-quarter 2022 revenue of $375 million, marking a 12% increase from Q2 2022. Net income rose to $24.7 million and Adjusted EBITDA grew to $62.8 million, reflecting gains of 70% and 32% respectively. The company completed the acquisitions of Breakwater Energy Partners and assets from Cypress Environmental Services on November 1, 2022, enhancing its water recycling capabilities in the Permian Basin and Bakken regions, with expected combined revenues of $110-$115 million for 2022.
Select Energy Services (NYSE: WTTR) announced a quarterly cash dividend of $0.05 per share for Class A common stock, payable on November 17, 2022. The record date is set for November 7, 2022. A similar distribution of $0.05 per unit has been approved for unitholders of SES Holdings, LLC. The company aims to maintain regular dividends, subject to market conditions and Board approval. CEO John Schmitz highlighted this initiative as a sign of confidence in the company’s performance and commitment to shareholder value, alongside a disciplined capital structure.
Select Energy Services, Inc. (NYSE: WTTR) will release its third quarter 2022 financial results on November 2, 2022, after market close. A conference call is scheduled for November 3, 2022, at 11:00 a.m. Eastern Time, available via phone or online streaming. The call will allow stakeholders to hear insights regarding the company’s performance and future outlook. A replay will be accessible until November 17, 2022, ensuring investors have ample opportunity to gain information.
Select Energy Services (NYSE: WTTR) has initiated a quarterly cash dividend program, starting at $0.05 per Class A common share, expected to begin after Q3 2022. The company has returned over $60 million to shareholders since 2018 and aims to balance capital returns with growth investments. The dividend's implementation reflects the Board's confidence in Select's operational performance and financial stability, driven by recent acquisitions and infrastructure projects.
Select Energy Services reported a revenue of $335.9 million for Q2 2022, reflecting a 14% sequential increase from Q1 2022. Net income surged to $14.6 million, up 83% quarter over quarter, while Adjusted EBITDA climbed 48% to $47.7 million. The company improved its gross margin before depreciation and amortization to 19.3%, driven by efficient integration of acquisitions and pricing enhancements. With a strengthened balance sheet and operational growth, Select aims for continued strong performance in the second half of the year, bolstered by increased recycling capacity and cash flow from operations.
Select Energy Services, Inc. (NYSE: WTTR) announced the release of its second quarter 2022 financial results on August 2, 2022, post-market closure. A conference call to discuss these results is scheduled for August 3, 2022, at 11:00 a.m. Eastern Time. Interested parties can join the call by dialing 201-389-0872 or via the internet for a live broadcast. A replay will be available until August 17, 2022. Select Energy focuses on sustainable water and chemical solutions for the energy industry, showcasing its commitment to environmentally responsible management.
For the first quarter of 2022, Select Energy Services (NYSE: WTTR) reported revenue of $294.8 million, reflecting a 16% increase from the previous quarter. The company achieved net income of $8.0 million and an Adjusted EBITDA of $32.2 million, a 22% sequential rise. Select completed the acquisition of Nuverra Environmental Solutions and secured a $270 million sustainability-linked credit facility. The firm anticipates 8%-12% revenue growth in Q2 2022, aided by improved market activity and pricing dynamics.
Select Energy Services, Inc. (NYSE: WTTR) will release its first quarter 2022 financial results on May 3, 2022, after market close. An accompanying conference call is scheduled for May 4, 2022, at 11:00 a.m. Eastern Time. Interested parties can join via phone or online. A replay of the call will be available until May 18, 2022. The company provides water and chemical solutions to the unconventional oil and gas industry in the U.S., offering services that include sourcing, monitoring, and treatment of water used in hydraulic fracturing.
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