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Jun 30, 2024
Solaris Q2 2024 Earnings Report
Key Takeaways
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.
Entered into an agreement to acquire Mobile Energy Rentals (MER) for $200 million, diversifying into distributed power solutions.
MER's third quarter 2024 Adjusted EBITDA is forecasted to be approximately $12 million - $13 million.
Preliminary Q2 2024 revenue expected to be between $70 million and $75 million.
Preliminary Q2 2024 Adjusted EBITDA expected to be between $20 million and $21 million.
Forward Guidance
Solaris expects to close the MER transaction by the end of the third quarter of 2024 and intends to rename the company to Solaris Energy Infrastructure, Inc.
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