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Sep 30, 2020
Select Water Solutions Q3 2020 Earnings Report
Revenue increased sequentially, driven by strong recoveries in the Oilfield Chemicals segment and Bakken infrastructure, while net loss was reported.
Key Takeaways
Select Energy Services reported a revenue increase of 10% sequentially, reaching $101.2 million in Q3 2020. The company experienced a net loss of $36.3 million, although this was an improvement compared to the previous quarter's loss of $53.0 million. The revenue growth was primarily driven by the Oilfield Chemicals segment and Bakken infrastructure. The company's cash and cash equivalents totaled $185.4 million with no debt outstanding.
Revenue for the third quarter of 2020 was $101.2 million, up 10% sequentially.
Net loss for the third quarter of 2020 was $36.3 million, an improvement from the previous quarter.
The Oilfield Chemicals segment and Bakken infrastructure drove revenue growth.
Cash and cash equivalents totaled $185.4 million with no debt outstanding.
Revenue by Segment
Forward Guidance
Select Energy Services anticipates further activity improvements in 2021 and is confident in identifying opportunities to deliver shareholder value while protecting its balance sheet. The company prepares to remain disciplined and patient to ensure they deliver value.
Positive Outlook
- Expects positive trends to continue.
- Anticipates further activity improvements in 2021.
- Confident that they will identify opportunities to deliver clear shareholder value.
- Confident that they will enhance their market position.
- Prepared to remain disciplined and patient to ensure they deliver value.
Challenges Ahead
- Current market conditions remain challenging.
- Global crude oil demand outlook is closely monitored.
- Pricing pressures remain a challenge in the Water Services segment.
- Significant reduction in the borrowing base since December 31, 2019.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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