Select Water Solutions, Inc.WTTREarnings & Financial Report
Select Water Solutions, Inc. is a leading provider of end-to-end water management, fluid handling, and environmental sustainability services primarily catering to the North American onshore oil and gas exploration and production sector. Its core offerings include water sourcing, treatment, recycling, disposal, and chemical solutions to help clients cut operational costs and reduce environmental footprint.
Revenue
$365.1M
Gross Profit
$60.2M
Operating Profit
$20.4M
Net Profit
$12.9M
Gross Margin
16.5%
Operating Margin
5.6%
Net Margin
3.5%
YoY Growth
-9.8%
Select Water Solutions, Inc. Q2 FY2024 Financial Summary
Select Water Solutions, Inc. reported revenue of $365.1M (down 9.8% YoY) for Q2 FY2024, with a net profit of $12.9M (down 36.0% YoY) (3.5% margin). Cost of goods sold was $305.0M, operating expenses totaled $39.8M.
Key Financial Metrics
| Total Revenue | $365.1M |
|---|---|
| Net Profit | $12.9M |
| Gross Margin | 16.5% |
| Operating Margin | 5.6% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Select Water Solutions, Inc. Q2 FY2024 revenue of $365.1M breaks down across 7 segments, led by Water Services at $230.0M (63.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Water Services | $230.0M | 63.0% |
| Eagle Ford | $37.3M | 10.2% |
| Marcellus Utica | $33.5M | 9.2% |
| Haynesville E.Texas | $24.1M | 6.6% |
| Bakken | $19.8M | 5.4% |
| Midcon | $19.4M | 5.3% |
| Eliminations And Other Geographical Regions | $2.4M | 0.6% |
Select Water Solutions, Inc. Revenue by Segment — Quarterly Trend
Select Water Solutions, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Water Services and Eagle Ford) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Water Services | $178.3M | — | $215.7M | — |
| Eagle Ford | $28.2M | — | — | — |
| Marcellus Utica | $38.6M | — | $44.5M | — |
| Haynesville E.Texas | $19.1M | $13.3M | $12.7M | $15.3M |
| Bakken | $17.3M | $21.3M | $25.4M | $22.7M |
Select Water Solutions, Inc. Annual Revenue by Year
Select Water Solutions, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.4B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.4B |
| 2024 | $1.5B |
| 2023 | $1.6B |
| 2022 | $1.4B |
Select Water Solutions, Inc. Quarterly Revenue & Net Profit History
Select Water Solutions, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $346.5M | -0.7% | $-346.0K | -0.1% |
| Q3 FY2025 | $322.2M | -13.2% | $2.7M | 0.8% |
| Q2 FY2025 | $364.2M | -0.3% | $10.6M | 2.9% |
| Q1 FY2025 | $374.4M | +2.1% | $8.2M | 2.2% |
| Q4 FY2024 | $349.0M | -6.9% | $-1.6M | -0.5% |
| Q3 FY2024 | $371.3M | -4.6% | $15.8M | 4.3% |
| Q2 FY2024 | $365.1M | -9.8% | $12.9M | 3.5% |
| Q1 FY2024 | $366.5M | -12.0% | $3.6M | 1.0% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $366.5M | $365.1M | $371.3M | $349.0M | $374.4M | $364.2M | $322.2M | $346.5M |
| YoY Growth | -12.0% | -9.8% | -4.6% | -6.9% | 2.1% | -0.3% | -13.2% | -0.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.29B | $1.32B | $1.35B | $1.37B | $1.55B | $1.55B | $1.59B | $1.60B |
| Liabilities | $403.0M | $421.0M | $427.2M | $450.7M | $628.3M | $623.4M | $656.5M | $668.5M |
| Equity | $770.0M | $782.0M | $796.5M | $793.5M | $793.1M | $799.3M | $808.1M | $805.6M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $32.1M | $83.1M | $51.9M | $67.8M | $-5.1M | $82.6M | $71.7M | $65.5M |