Select Energy Services, Inc. (NYSE: WTTR) reported Q1 EPS of ($2.86), versus $0.01 reported last year. Revenue for the quarter came in at $278.3 million versus the consensus estimate of $278.95 million.

Holli Ladhani, President and CEO, stated, "The team delivered another quarter of solid operational execution and strong cash flow generation. However, with the reduction in activity by upstream operators starting in March and subsequent decreases in activity levels resulting from the market disruption from COVID-19 and historic low crude oil prices, it is clear the entire oilfield faces acute challenges in the quarters to come. Fortunately, we enter these unprecedented times with nearly $300 million of overall liquidity, including $114 million of cash on hand, and no bank debt at the end of the quarter, illustrating how well our execution and capital discipline over the past few years has positioned our balance sheet. We will continue to protect this financial strength with all means at our disposal.

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