Solaris Oilfield Infrastructure (SOI) Tops Q4 EPS by 1c, Revenues Beat

Solaris Oilfield Infrastructure (NYSE: SOI) reported Q4 EPS of $0.45, $0.01 better than the analyst estimate of $0.44. Revenue for the quarter came in at $57.34 million versus the consensus estimate of $54.19 million.

• Net income of $86.0 million, or $1.59 per diluted Class A share, for the year ended December 31, 2018; net income of $24.7 million, or $0.47 per diluted Class A share, in fourth quarter 2018
• Adjusted EBITDA of $123.4 million for the year ended December 31, 2018; adjusted EBITDA of $34.9 million in fourth quarter 2018
• Ended the year with 160 proppant management systems and 3 chemical management systems in the rental fleet
• Declared a regular quarterly dividend of $0.10 per share on December 6, 2018

Solaris ended December 2018 with 160 mobile proppant management systems and 3 mobile chemical management systems in the rental fleet. Based on current industry activity levels, the Company believes it has approximately 1/3 of overall U.S. wellsite proppant storage market share which represents the leading share. The Company expects to end the first quarter 2019 with 163 mobile proppant management systems and 10 mobile chemical management systems in the rental fleet.

Solaris’ Chairman and Chief Executive Officer Bill Zartler commented, “Over the course of 2018 we outperformed overall industry activity levels, including more than doubling our fleet size and introducing several new products and enhancements. These new introductions, including the industry’s first silo-based chemical management systems and complete automation of our mobile sand systems, will provide additional growth potential for Solaris. Our solutions reduce labor requirements and improve wellsite safety for our customers, which is critical for success during this time of commodity price uncertainty and upstream capital spending discipline. We will continue to innovate and be thought leaders in driving this efficiency for our customers, and at the same time will exercise capital discipline in our business – only deploying capital when we think we can generate an attractive return for our shareholders.”

For earnings history and earnings-related data on Solaris Oilfield Infrastructure (SOI) click here.

You May Also Be Interested In

• Citi agrees to acquire rewards platform Kard Financial
• Kodiak Sciences Inc. (KOD) Misses Q2 EPS by 7c
• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance