v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Total revenue $ 364,215 $ 365,131 $ 738,599 $ 731,679
Costs of revenue        
Depreciation, amortization and accretion 41,054 37,445 79,729 74,337
Total costs of revenue 306,462 304,975 625,076 618,846
Gross profit 57,753 60,156 113,523 112,833
Operating expenses        
Selling, general and administrative 38,935 38,981 76,367 82,961
Depreciation and amortization 1,918 748 2,843 2,006
Impairments and abandonments 1,477 46 2,625 91
Lease abandonment costs (2) 17 722 406
Total operating expenses 42,328 39,792 82,557 85,464
Income from operations 15,425 20,364 30,966 27,369
Other income (expense)        
Gain on sales of property and equipment and divestitures, net 6,503 382 7,868 707
Interest expense, net (5,645) (2,026) (10,521) (3,298)
Other 92 42 421 (240)
Income before income tax expense and equity in earnings (losses) of unconsolidated entities 16,375 18,762 28,734 24,538
Income tax expense (4,521) (3,959) (7,415) (5,411)
Equity in (losses) earnings of unconsolidated entities (183) 96 (88) (353)
Net income 11,671 14,899 21,231 18,774
Less: net income attributable to noncontrolling interests (1,024) (2,031) (2,345) (2,281)
Net income attributable to Select Water Solutions, Inc. 10,647 12,868 18,886 16,493
Water Infrastructure        
Revenue        
Total revenue 80,855 68,564 153,246 132,072
Costs of revenue        
Costs of revenue 36,211 33,581 69,704 67,273
Water Services        
Revenue        
Total revenue 215,660 230,008 441,308 458,315
Costs of revenue        
Costs of revenue 173,312 178,308 355,030 359,840
Chemical Technologies        
Revenue        
Total revenue 67,700 66,559 144,045 141,292
Costs of revenue        
Costs of revenue 55,885 55,641 120,613 117,396
Class A common stock        
Other income (expense)        
Net income attributable to Select Water Solutions, Inc. $ 10,647 $ 12,868 $ 18,886 $ 16,493
Net income per share attributable to common stockholders (Note 15):        
Basic $ 0.1 $ 0.13 $ 0.19 $ 0.17
Diluted $ 0.1 $ 0.13 $ 0.18 $ 0.16