NYSE$WTTR
Select Water Solutions Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Revenue increased sequentially, and the acquisitions of Breakwater Energy Partners and water gathering pipeline and disposal assets from Cypress Environmental Services were announced.
Select Energy Services reported strong third-quarter results with sequential revenue growth and increased profitability. Net income and Adjusted EBITDA grew significantly, and the company completed strategic acquisitions to enhance its water infrastructure and service offerings.
- Revenue of $375 million generated during the third quarter of 2022, up 12% sequentially from the second quarter of 2022
- Net income of $24.7 million and Adjusted EBITDA of $62.8 million during the third quarter of 2022, representing sequential increases of 70% and 32%, respectively
- Acquired Breakwater Energy Partners, LLC, a leading provider of contracted water recycling and infrastructure solutions focused in the Permian Basin on November 1, 2022
- Acquired Bakken Shale water gathering pipeline and disposal assets from Cypress Environmental Services, LLC on November 1, 2022
Headline financials
Revenue & EPS history
Select Water Solutions · Revenue · Quarterly
$375M
Revenue by segment
Select Water Solutions · $296M total across 2 segments · Q3 2022
- Water Services$221M+96.7%74.8%
- Water Infrastructure$74.4M+102.2%25.2%
Forward guidance
Looking at the fourth quarter of 2022, the Company expects to see relatively steady revenue and gross margins before D&A, as partial quarter contributions from Breakwater partially offset normal seasonal impacts to the base business.
Tailwinds
- The Company anticipates low double digit percentage revenue growth for the Water Infrastructure segment.
- The Company anticipates gross margins before D&A in the high-20 percent range for the Water Infrastructure segment.
- The Company anticipates mid-single digit percentage revenue growth for the Oilfield Chemicals segment.
- The Company anticipates relatively stable margins for the Oilfield Chemicals segment.
- The Company expects to see relatively steady revenue and gross margins before D&A.
Headwinds
- Normal seasonal impacts to the base business.
- Partial quarter contributions from Breakwater.
- Logistical challenges relating to the COVID-19 pandemic
- Supply chain disruptions relating to the COVID-19 pandemic
- Volatility in oil and gas prices
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+1.5%
Avg return
Earnings day
+2.1%
Avg return
5 days after
-0.0%
Avg return
30 days after
46%
17 / 37 earnings
Positive
+32.2%
Q3 2024
Best reaction
-13.0%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | +2.1% | +4.4% | |
| Q4 2025 | +9.1% | -3.5% | +8.7% | |
| Q3 2025 | -1.3% | -5.8% | -4.1% | |
| Q2 2025 | -5.4% | -9.8% | -8.2% | |
| Q1 2025 | -11.8% | +4.5% | +7.4% | |
| Q4 2024 | -5.4% | -9.0% | -24.0% | |
| Q3 2024 | +32.2% | +32.0% | +38.1% | |
| Q2 2024 | +2.7% | -3.0% | -0.4% | |
| Q1 2024 | -4.1% | -3.7% | +12.2% | |
| Q4 2023 | +16.0% | +12.4% | +18.6% | |
| Q3 2023 | +2.2% | +3.6% | +0.5% | |
| Q2 2023 | +0.1% | -3.3% | -2.3% | |
| Q1 2023 | -2.6% | +0.5% | -0.8% | |
| Q4 2022 | -13.0% | -9.9% | -23.4% | |
| Q3 2022 | -6.2% | +1.1% | -11.2% | |
| Q2 2022 | -1.3% | -2.9% | -3.2% | |
| Q1 2022 | +9.9% | +10.6% | +11.8% | |
| Q4 2021 | +14.0% | +9.8% | +18.6% | |
| Q3 2021 | +4.2% | +15.5% | -5.6% | |
| Q2 2021 | -5.6% | -5.8% | -2.6% | |
| Q1 2021 | +15.2% | +30.1% | +26.3% | |
| Q4 2020 | +3.3% | -1.1% | -16.7% | |
| Q3 2020 | -5.2% | +0.9% | +38.3% | |
| Q2 2020 | +8.7% | +8.7% | -1.3% | |
| Q1 2020 | +4.2% | +22.6% | +31.2% | |
| Q4 2019 | -1.1% | -10.5% | -58.1% | |
| Q3 2019 | -1.1% | -0.2% | +0.0% | |
| Q2 2019 | -4.1% | -3.2% | -3.4% | |
| Q1 2019 | -3.8% | -0.9% | -3.9% | |
| Q4 2018 | +4.9% | +4.9% | +23.4% | |
| Q3 2018 | +11.8% | +4.9% | -10.7% | |
| Q2 2018 | -5.0% | -14.9% | -23.5% | |
| Q1 2018 | +6.9% | +11.6% | -9.6% | |
| Q4 2017 | -6.0% | -6.0% | -17.2% | |
| Q3 2017 | -4.0% | -5.3% | -3.9% | |
| Q2 2017 | -0.7% | -1.3% | -5.5% | |
| Q1 2017 | -1.6% | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — |
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