WTTR posts $23 million net income and $93 million adjusted EBITDA, beating guidance as water volumes rise to 1.5 million barrels per day.
Select Water Solutions reported second-quarter net income of $23 million, more than doubling sequentially, as revenue climbed 8% to $396 million. Adjusted EBITDA reached $93 million, exceeding the company’s $77 million to $80 million guidance range.
The Water Infrastructure segment drove results with record revenue of $102 million, up 26% year over year, supported by higher produced-water volumes and improved pricing. Gross margin before depreciation and amortization expanded to 58%, reflecting stronger operational performance.
Chief Executive Officer John Schmitz cited record revenue and gross profit in both Water Infrastructure and Chemical Technologies as key contributors to the quarter’s strength.