Aris Water Solutions (NYSE: ARIS) reported Q2 EPS of $0.29, $0.06 better than the analyst estimate of $0.23. Revenue for the quarter came in at $101.12 million versus the consensus estimate of $97.13 million.

UPDATED 2024 FINANCIAL OUTLOOK

“Given our strong first half of 2024 and increased confidence in the outlook for the second half of the year, we are increasing our full year 2024 Adjusted EBITDA guidance, establishing a new range between $195 and $205 million,” said Amanda Brock. “I’m extremely grateful to our team for their hard work and successful execution so far this year and look forward to continuing our positive momentum throughout the rest of 2024 and beyond.”

For the third quarter of 2024, the Company expects:

Produced Water Handling volumes between 1,060 and 1,090 thousand barrels of water per day
Water Solutions volumes between 410 and 440 thousand barrels of water per day
Adjusted Operating Margin per Barrel2 between $0.43 and $0.45
Skim oil recoveries of approximately 1,300 barrels per day
Adjusted EBITDA1 between $48 and $52 million
No change to Aris’s full year Capital Expenditure4 outlook of $85 to $105 million

For earnings history and earnings-related data on Aris Water Solutions (ARIS) click here.