Solaris Oilfield Infrastructure (SOI) Reports In-Line Q3 EPS, Revenues Beat
Solaris Oilfield Infrastructure (NYSE: SOI) reported Q3 EPS of ($0.09), in-line with the analyst estimate of ($0.09). Revenue for the quarter came in at $20.53 million versus the consensus estimate of $13.82 million.
Third Quarter 2020 Highlights
- Net loss of $(3.3) million, or $(0.12) per diluted Class A share, for the quarter ended September 30, 2020; Adjusted pro forma net income of $(4.0) million, or $(0.09) per diluted share for the quarter ended September 30, 2020 (see below for a reconciliation of adjusted pro forma net income to net income attributable to Solaris)
- Adjusted EBITDA of $3.1 million for the quarter ended September 30, 2020
- Net cash provided by operating activities of $3.7 million for the quarter ended September 30, 2020
- Positive free cash flow of $2.3 million for the quarter ended September 30, 2020
- Paid a regular quarterly dividend of $0.105 per share on September 17, 2020
“As our customers returned to a modest level of activity in the third quarter, the Solaris team was ready to help them get back to work and as a result, delivered another quarter of solid results and positive free cash flow,” Solaris’ Chairman and Chief Executive Officer Bill Zartler commented. “We are cautiously optimistic about further activity recovery in the coming year and remain committed to helping our customers operate more efficiently through well site innovation. We also remain committed to our shareholders by continuing to run as lean as possible, paying a dividend and maintaining our debt-free balance sheet.”
For earnings history and earnings-related data on Solaris Oilfield Infrastructure (SOI) click here.