The following is a summary of the Solaris Oilfield Infrastructure, Inc. (SOI) Q2 2024 Earnings Call Transcript:
Financial Performance:
Solaris Oilfield Infrastructure reported Q2 2024 revenue of $74 million.
Adjusted EBITDA was $21 million and free cash flow reached $18 million, the highest in four years.
The company returned $5 million to shareholders through dividends and share repurchases.
Business Progress:
Announced the acquisition of Mobile Energy Rentals, expanding into mobile distributed power product lines.
Continued growth in core well site equipment rental business, along with expansion into the top fill loading system.
Plans to increase the fleet size of MER from 150 megawatts to approximately 500 megawatts by the next year.
Opportunities:
MER acquisition provides new growth avenues in mobile power generation across various markets.
Potential cross-selling opportunities with U.S. oil and gas operators and mid-stream companies.
Risks:
Anticipated stabilization in gas-exposed activity but no significant growth in the near term, as stated 'natural gas weakness appears to have bottomed.'
More details: Solaris Oilfield Infrastructure IR
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