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Mar 31, 2024
Aris Water Solutions Q1 2024 Earnings Report
Aris Water Solutions reported strong Q1 2024 results with increased produced water volumes, recycled water volumes, and net income.
Key Takeaways
Aris Water Solutions reported a strong start to 2024, with a 6% sequential increase in produced water volumes and a 19% increase compared to Q1 2023. The company's net income rose by 29% sequentially to $16.8 million, and Adjusted EBITDA reached $53.1 million, a 39% increase year-over-year. Aris also announced a 17% increase in its quarterly dividend, reflecting confidence in its long-term outlook.
Produced water volumes increased 6% quarter-over-quarter and 19% versus the first quarter of 2023.
Recycled produced water volumes grew 31% versus the first quarter of 2023.
Net income for the first quarter of 2024 was $16.8 million, a 29% increase sequentially.
Adjusted EBITDA was $53.1 million for the first quarter, up 8% sequentially and up 39% versus the first quarter of 2023.
Aris Water Solutions
Aris Water Solutions
Aris Water Solutions Revenue by Segment
Revenue by Segment
Produced Water Handling Revenue
CapyFin.comProduced Water Handling – Affiliate Revenue
CapyFin.comWater Solutions Revenue
CapyFin.comWater Solutions – Affiliate Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Aris Water Solutions provided guidance for the second quarter of 2024, expecting produced water handling volumes between 1,015 and 1,045 thousand barrels per day, water solutions volumes between 400 and 430 thousand barrels per day, adjusted operating margin per barrel between $0.42 and $0.44, skim oil recoveries of approximately 1,200 barrels per day, adjusted EBITDA between $44 and $48 million, and capital expenditures between $38 and $43 million.
Positive Outlook
- Produced Water Handling volumes between 1,015 and 1,045 thousand barrels of water per day
- Water Solutions volumes between 400 and 430 thousand barrels of water per day
- Adjusted Operating Margin per Barrel between $0.42 and $0.44
- Skim oil recoveries of approximately 1,200 barrels per day
- Capital Expenditures between $38 and $43 million, consistent with Aris’s first-half weighted capital plan; no change to Aris’s full year capital expenditure outlook of $85 to $105 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income