Solaris Earnings Reports

Solaris Energy Infrastructure reported revenue of $75 million for Q3 2024, an 8% increase compared to Q3 2023. The company's net loss was $2 million, or ($0.04) per diluted Class A share. Adjusted pro forma net income was $4 million, or $0.08 per fully diluted share.

Solaris announced an agreement to acquire Mobile Energy Rentals for $200 million, including cash and stock. Preliminary Q2 2024 revenue is expected to be between $70 million and $75 million and Adjusted EBITDA between $20 million and $21 million. The company repaid $14 million of debt during the quarter, ending with $11 million of net debt.