The following is a summary of the Solaris Oilfield Infrastructure, Inc. (SOI) Q1 2024 Earnings Call Transcript:
Financial Performance:
Solaris generated $68 million in revenue, $23 million in adjusted EBITDA, and $14 million of free cash flow in the first quarter of 2024.
The company returned $13 million to shareholders, including $8 million in share repurchases and $5 million in dividends.
The Q2 2024 dividend was set at $0.12 per share.
Debt on revolving credit facility remained at $30 million, with net debt standing at $27 million.
The company expects a free cash flow of between $15 million and $20 million in Q2 2024.
Business Progress:
Solaris had a strong start to 2024, with robust free cash flow and maintaining a high quality of service.
The company sees electrification, consolidation, and efficiency as key trends in the US shale industry and aims to lead in these areas.
All silo systems and top fill equipment have been upgraded to improve reliability and sand offloading rates.
Solaris continues to innovate and provide high-quality support to its customers.
While maintaining a strong cash position, the firm is prepared for potential organic and inorganic growth opportunities in the future.
On its 10th anniversary, Solaris expressed steadfastness in its commitment to delivering innovative solutions to improve well site efficiency and a focus on delivering returns to shareholders in the coming decade.
More details: Solaris Oilfield Infrastructure IR
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