NYSE$WTTR
Select Water Solutions Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Select Energy Services reported Q4 2022 earnings, announced corporate rebranding initiative and multiple new acquisitions.
Select Energy Services, Inc. reported revenue of $381.7 million for the fourth quarter of 2022, a 2% increase sequentially from the third quarter of 2022. Net income for the fourth quarter of 2022 was $7.6 million. The company announced its intent to rebrand as Select Water Solutions, Inc.
- Generated revenue of $382 million during the fourth quarter of 2022, up 2% sequentially from the third quarter of 2022.
- Acquired strategic portfolio of Permian Basin water infrastructure, including water gathering, disposal, sourcing, storage and distribution assets from multiple parties
- Acquired joint venture interests in certain strategic recycling facilities in the Permian Basin from minority partners
- Announced significant new Delaware Basin recycling infrastructure project supported by multiple long-term contracts
Headline financials
Revenue & EPS history
Select Water Solutions · Revenue · Quarterly
$382M
Revenue by segment
Select Water Solutions · $296M total across 2 segments · Q4 2022
- Water Services$219M+55.3%73.9%
- Water Infrastructure$77.2M+64.7%26.1%
Forward guidance
The Company expects to see meaningful revenue, EBITDA and net income growth in 2023. Subject to market conditions and the realization of certain projects, the Company expects to deploy between $90 and $130 million of net capex during 2023, with an objective of converting two-thirds of the Company's EBITDA into free cash flow, supported by substantial working capital improvements.
Tailwinds
- Expects to see meaningful revenue growth in 2023
- Expects to see meaningful EBITDA growth in 2023
- Expects to see meaningful net income growth in 2023
- Objective of converting two-thirds of EBITDA into free cash flow
- Supported by substantial working capital improvements
Headwinds
- Subject to market conditions
- Subject to the realization of certain projects
- Expects to deploy between $90 and $130 million of net capex during 2023
- Integration and weather challenges impacted Q4
- Gross profit for the fourth quarter of 2022 was impacted by approximately $8 million of non-ordinary expenses
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 Q4 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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