Aris Water Solutions (NYSE: ARIS) reported Q1 EPS of ($0.11), $0.26 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $71 million versus the consensus estimate of $66.95 million.

INCREASED 2022 OUTLOOK:

Aris is updating its 2022 outlook to reflect the impact of the recently signed long-term agreement with Chevron as well as increased activity levels in the Northern Delaware Basin. For the year of 2022, Aris is now projecting increased Adjusted EBITDA1 between $165.0 and $175.0 million and property, plant, and equipment expenditures between $140.0 and $150.0 million. For the second quarter of 2022, Aris projects Adjusted EBITDA 1 of $38.0-$40.0 million. Aris is investing additional capital in 2022 to support the Chevron agreement as well as incremental projected growth from our other long-term contracted customers.

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