Select Water Solutions reports Q4 EPS 27c, consensus 15c

Reports Q4 revenue $374.9M, consensus $377.65M. John Schmitz, Chairman of the Board, President and CEO, stated, “The Q4 concluded a record-setting year for Select, with FY23 consolidated revenue, net income, adjusted EBITDA and operating cash flow all reaching record highs for the Company. With this record operating cash flow, we were able to fund a diverse capital allocation strategy throughout 2023. This included funding our maintenance capex as well as our growth capex plans, particularly around our Water Infrastructure segment, substantially increasing our capital returns to shareholders, by growing our base dividend by 20% during the year and increasing share repurchases, while also executing six bolt-on acquisitions during 2023. Importantly, we were able to do this while also repaying all of our outstanding debt throughout the year and building cash on the balance sheet at year-end.”