Select Water Solutions, Inc. (NYSE: WTTR) has priced a $175 million public offering of Class A common stock at $12.75 per share, with proceeds intended for general corporate purposes. This includes funding water infrastructure projects, potential acquisitions, or debt repayment. The offering involves 13,725,491 shares and is expected to close on February 23, 2026, subject to customary conditions. This financial strategy could support the company's growth and stability in the competitive energy sector. North ...

Core Viewpoint - Select Water Solutions, Inc. has announced the pricing of a public offering of 13,725,491 shares of its Class A common stock at a price of $12.75 per share, with the intention to use the net proceeds for general corporate purposes, including water infrastructure projects, potential acquisitions, or debt repayment [1] Group 1: Offering Details - The public offering consists of 13,725,491 shares of Class A common stock priced at $12.75 per share [1] - The company has granted underwriters a 30-day option to purchase up to 2,058,824 additional shares at the public offering price [1] - The offering is expected to close on February 23, 2026, subject to customary closing conditions [1] Group 2: Use of Proceeds - Net proceeds from the offering will be used for general corporate purposes, including water infrastructure growth capital projects, potential acquisitions, or debt repayment under the sustainability-linked credit facility [1] Group 3: Underwriters - J.P. Morgan and BofA Securities are the lead book-running managers for the offering, with Citigroup, Piper Sandler, and Raymond James serving as joint book-running managers [1] - Additional co-managers include Johnson Rice & Company, MUFG, Northland Capital Markets, Roth Capital Partners, Seaport Global Securities, and Texas Capital Securities [1] Group 4: Company Overview - Select Water Solutions is a leading provider of sustainable water and chemical solutions to the energy industry, supported by critical water infrastructure assets, chemical manufacturing, and water treatment and recycling capabilities [1]

Core Viewpoint - Select Water Solutions, Inc. has announced a public offering of $175.0 million of its Class A common stock to support general corporate purposes, including water infrastructure growth, potential acquisitions, and debt repayment [1] Group 1: Offering Details - The public offering is for $175.0 million of Class A common stock, with a par value of $0.01 per share [1] - The company plans to grant underwriters a 30-day option to purchase up to $26.25 million of additional shares at the public offering price [1] - J.P. Morgan Securities LLC and BofA Securities are the lead book-running managers for the offering [1] Group 2: Use of Proceeds - Net proceeds from the offering will be used for general corporate purposes, including water infrastructure growth capital projects, potential acquisitions, or debt repayment under the sustainability-linked credit facility [1] Group 3: Regulatory and Market Conditions - The offering is subject to market and other conditions, with no assurance on the completion or terms of the offering [1] - The offering is being conducted under an effective shelf registration statement filed with the SEC [1]

Core Insights - Select Water Solutions reported consolidated revenue of $1.4 billion for the full year 2025, with a fourth quarter revenue of $347 million, reflecting a year-over-year revenue decline from $1.5 billion in 2024 [1][2] - The company achieved a net income of $21 million for 2025, down from $35.5 million in 2024, while Adjusted EBITDA increased to $260 million from $258.4 million in the previous year [2][3] - The Water Infrastructure segment generated $313 million in revenue for 2025, an 8% increase year-over-year, while the Chemical Technologies segment saw a 19% revenue growth to $308 million [1][2] Financial Performance - Full year 2025 gross profit was $202.4 million, down from $219.5 million in 2024, with a total gross margin of 14.4% compared to 15.1% in 2024 [2][3] - Fourth quarter 2025 revenue was $346.5 million, slightly lower than $349 million in Q4 2024, with a net loss of $2.1 million compared to a net income of $2.3 million in Q3 2025 [2][3] - Adjusted EBITDA for Q4 2025 was $64.2 million, up from $56.2 million in Q4 2024, indicating strong operational performance despite the net loss [2][3] Segment Performance - The Water Infrastructure segment reported revenues of $81.2 million in Q4 2025, up from $76.8 million in Q4 2024, with a gross margin before D&A of 54.1% [3][4] - The Water Services segment generated $178.3 million in Q4 2025, down from $209.3 million in Q4 2024, but showed a gross margin improvement to 19.6% [3][4] - The Chemical Technologies segment achieved record revenues of $87 million in Q4 2025, significantly higher than $62.9 million in Q4 2024, with a gross margin before D&A of 20.3% [3][4] Strategic Developments - The company announced multiple new long-term contracts for water infrastructure projects, adding significant capacity and acreage commitments, including 15 million barrels of minimum volume commitments [1][4] - Select Water Solutions is expanding its infrastructure footprint with new projects in the Northern Delaware Basin, including pipeline construction and disposal capacity enhancements [4] - The company anticipates a revenue growth of 20% to 25% in the Water Infrastructure segment for 2026, supported by ongoing construction and new project awards [2][3] Cash Flow and Capital Expenditures - Cash flow from operations for 2025 was $214.7 million, down from $234.9 million in 2024, while net capital expenditures increased to $279.3 million from $157.3 million in the previous year [3][4] - The company is targeting net capital expenditures of $175 million to $225 million for 2026, focusing on growth capital projects within the Water Infrastructure segment [2][3] Balance Sheet and Capital Structure - As of December 31, 2025, total cash and cash equivalents were $18.1 million, with total borrowings of $320 million under its sustainability-linked credit facility [3][4] - The company reported total liquidity of $163.6 million as of December 31, 2025, an increase from $134.8 million in 2024 [3][4]

Core Viewpoint - Select Water Solutions, Inc. is set to release its 2025 fourth quarter and full year financial results on February 17, 2026, after market close, followed by a conference call on February 18, 2026 [1][2]. Group 1: Financial Results Announcement - The financial results for the fourth quarter and full year of 2025 will be announced on February 17, 2026 [1]. - A conference call to discuss these results is scheduled for February 18, 2026, at 11:00 a.m. Eastern Time [2]. - The conference call will be accessible via phone or live over the Internet [2]. Group 2: Company Overview - Select Water Solutions is a leading provider of sustainable water and chemical solutions for the energy industry [3]. - The company emphasizes the importance of safe and environmentally responsible management of water throughout the lifecycle of a well [3]. - Select Water Solutions aims to conserve and protect the environment through responsible management of water resources [3].

Core Points - Select Water Solutions, Inc. will release its 2025 third quarter financial results on November 4, 2025, after market close [1] - A conference call is scheduled for November 5, 2025, at 11:00 a.m. Eastern Time, which will be available via phone and online [1] - The company emphasizes its commitment to sustainable water and chemical solutions for the energy industry, focusing on environmentally responsible management of water resources [2] Financial Results Announcement - The financial results for the third quarter of 2025 will be released on November 4, 2025 [1] - A live conference call will take place on November 5, 2025, at 11:00 a.m. Eastern Time [1] - Replay of the call will be available until November 19, 2025 [1] Company Overview - Select Water Solutions is a leading provider of sustainable water and chemical solutions to the energy industry [2] - The company prioritizes safe and environmentally responsible management of water throughout the lifecycle of a well [2] - Select Water Solutions believes in the importance of conserving and protecting the environment through responsible water resource management [2]

Core Viewpoint - Select Water Solutions has announced its dual listing on NYSE Texas, enhancing its presence in the Texas market where it was founded and operates predominantly [1][2]. Company Overview - Select Water Solutions is a leading provider of sustainable water management and chemical solutions for the energy industry, emphasizing safe and environmentally responsible water management throughout the lifecycle of a well [4]. - The company maintains critical water infrastructure assets, chemical manufacturing, and water treatment and recycling capabilities, which are essential for its operations [4]. Listing Details - The company will retain its primary listing on the New York Stock Exchange while trading under the same ticker symbol "WTTR" on NYSE Texas [3]. - As a Founding Member of NYSE Texas, Select Water Solutions expresses its commitment to supporting the growth of Texas's economy and entrepreneurial spirit [2].

Core Insights - The company reported a net income increase of 22.1% and an adjusted EBITDA improvement of 13.4% in Q2 2025 compared to Q1 2025, despite a slight decline in consolidated revenue [3][14] - The Water Infrastructure segment saw revenue and gross profit growth of 12% and 17%, respectively, in Q2 2025 compared to Q1 2025, with gross margins before depreciation and amortization reaching 55% [4][18] - An asset swap transaction with OMNI Environmental Solutions was completed, enhancing the company's Water Infrastructure assets while divesting certain trucking operations [6][27] Financial Performance - Operating cash flow for Q2 2025 was $82.6 million, a significant increase from cash flow used in operations of $5.1 million in Q1 2025 [21] - Total revenue for Q2 2025 was $364.2 million, down from $374.4 million in Q1 2025 but slightly up from $365.1 million in Q2 2024 [14] - Free cash flow for Q2 2025 was $10.8 million, recovering from a negative $51.5 million in Q1 2025 [22] Business Segment Performance - The Water Infrastructure segment generated revenues of $80.9 million in Q2 2025, up from $72.4 million in Q1 2025, with a gross margin before D&A of 55.2% [18] - The Water Services segment reported revenues of $215.7 million in Q2 2025, down from $225.6 million in Q1 2025, with a gross margin before D&A of 19.6% [19] - The Chemical Technologies segment's revenue decreased to $67.7 million in Q2 2025 from $76.3 million in Q1 2025, but gross margin before D&A improved to 17.5% [20] Strategic Developments - The company announced multiple new long-term contracted Water Infrastructure projects in the Permian Basin, backed by nearly 60,000 newly dedicated leasehold acres [2] - The company is evaluating strategic alternatives for Peak Rentals, aiming to enhance growth and access to capital [7][8] - A significant 12-year contract was signed for water recycling and disposal infrastructure in the Northern Delaware Basin, expected to enhance the company's operational capabilities [9][34] Cash Flow and Capital Expenditures - Net capital expenditures for Q2 2025 were $71.7 million, with a focus on supporting ongoing water infrastructure projects [22][11] - The company maintains a 2025 net capital expenditures guidance of $225 million to $250 million, with a bias towards the higher end due to recent project awards [11] Balance Sheet and Liquidity - Total cash and cash equivalents increased to $51.2 million as of June 30, 2025, compared to $27.9 million as of March 31, 2025 [24] - Total liquidity was reported at $279.3 million as of June 30, 2025, up from $260.2 million as of March 31, 2025 [26]

Core Insights - Select Water Solutions achieved significant milestones in sustainability and operational growth in 2024, focusing on water recycling and environmental responsibility [1][2][3] Sustainability Achievements - In 2024, Select treated or recycled 20.0 billion gallons (477 million barrels) of produced water, marking a 9% increase from 2023 [1][4] - The company increased environmentally-responsible wastewater disposal volumes by 41% compared to 2023 [1][4] - Select reduced total Scope 1 and Scope 2 emissions by 8% year-over-year, supported by investments in infrastructure and fleet upgrades [1][4] Performance Against Targets - Select exceeded its annual water recycling target by 324% and employee safety target by 49% as part of its sustainability-linked credit facility [1][4] - The company achieved a total recordable incident rate (TRIR) of 0.54 and a lost time incident rate of 0.25 in 2024 [4] Future Goals - For 2025, Select established a target to increase recycled produced water volumes by 14% at fixed facilities, with an annual increase of 17.5% until reaching a target of 403 million barrels per year by 2029 [8] - The company aims to reduce TRIR by approximately 1.5% each year, outperforming the industry average by 35% by 2029 [8] Commitment to Stakeholders - Select's 2024 Sustainability Report emphasizes its dedication to environmental stewardship and sustainable development within its operational communities [4][5] - The company plans to continue regular reporting on its ESG policies and performance through its website and annual reports [5]

Group 1 - Select Water Solutions, Inc. will release its 2025 second quarter financial results on August 5, 2025, after market close [1] - A conference call to discuss the financial results is scheduled for August 6, 2025, at 11:00 a.m. Eastern Time [1] - The conference call will be accessible via phone or live over the Internet, with a replay available until August 20, 2025 [1] Group 2 - Select Water Solutions is a leading provider of sustainable water and chemical solutions to the energy industry [2] - The company emphasizes safe and environmentally responsible management of water throughout the lifecycle of a well [2] - Select Water Solutions aims to conserve and protect the environment through responsible water resource management [2]