- Select Energy Services (NYSE:WTTR -4.4%) says while the Permian Basin region is currently facing production takeaway challenges, WTTR is optimistic with challenges being temporary, and expects the region to be important for the business.
- Water Solutions segment Q2 revenues jumped 154% Y/Y to $273.7M driven by increased customer demand for water transfer & flowback and well testing services in the Permian.
- Wellsite Services sales was +105% to $54.7M due to increased activity in accommodations and sand hauling business lines that was offset by seasonal activity declines in Canada.
- Gross margin expanded ~530bps to 14.4%.
- Adjusted EBITDA margin compressed ~290bps to 17.3%
- Previously: Select Energy Services EPS in-line, misses on revenue (Aug. 9)
More on Select Energy Services Q2 results
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Symbol | Last Price | % Chg |
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WTTR | - | - |
Select Water Solutions, Inc. |