Select Energy Services, Inc. (NYSE: WTTR) reported Q4 EPS of ($0.12), $0.12 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $276.09 million versus the consensus estimate of $288.61 million.

Holli Ladhani, President and CEO, stated, "We advanced our strategy throughout the year by divesting our non-core businesses, paying down our debt balance in full, completing our New Mexico pipeline system, adding incremental chemicals manufacturing capacity in the Permian basin, acquiring a strategic water treatment business and returning cash to shareholders via open market share repurchases, all while continuing to generate and build cash on the balance sheet.

"We finished 2019 with another strong free cash flow quarter and significantly exceeded the top end of our full year free cash flow target. We were disciplined in our approach to capital allocation throughout 2019, generating consistent free cash flow and further enhancing our financial flexibility. With our debt-free balance sheet, we are well positioned to capitalize on opportunities as they arise and navigate the potentially volatile market ahead of us.

"Looking forward, while we expect full year activity to decline year-over-year, we have already seen activity pick up in the early part of 2020 and expect improvements across all three segments in the first quarter. Absent signals of further increases in activity levels, we will invest our capital judiciously, with a capital expenditure range of $55 million to $70 million expected in 2020. We will continue to target a balanced capital allocation strategy including the evaluation of opportunistic and strategic growth focused on expanding our ability to bring full life-cycle solutions to our customers, as well as in technologies that support our operational efficiency initiatives and service differentiation," concluded Ladhani.

For earnings history and earnings-related data on Select Energy Services, Inc. (WTTR) click here.