Solaris Oilfield Infrastructure, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 26, 2024 at 05:00 pm EST
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Solaris Oilfield Infrastructure, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 63.35 million compared to USD 84.05 million a year ago. Revenue was USD 63.35 million compared to USD 84.05 million a year ago. Net income was USD 4.3 million compared to USD 4.8 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 0.15 a year ago.
For the full year, sales was USD 292.95 million compared to USD 320.01 million a year ago. Revenue was USD 292.95 million compared to USD 320.01 million a year ago. Net income was USD 24.34 million compared to USD 21.16 million a year ago. Basic earnings per share from continuing operations was USD 0.78 compared to USD 0.64 a year ago. Diluted earnings per share from continuing operations was USD 0.78 compared to USD 0.64 a year ago.
Solaris Oilfield Infrastructure, Inc. provides mobile equipment that drives supply chain and execution in the completion of oil and natural gas wells. The Company designs and manufactures specialized equipment, which combined with field technician support, last mile logistics services and software solutions, which enables it to provide a service offering that helps oil and natural gas operators and their suppliers during the completion phase of well development. It services active oil and natural gas basins in the United States. It specializes in developing all electric equipment that automates the low-pressure section of oil and gas well completion sites. The Companyâs sand handling service span from mobile proppant management systems to multiple types of all-electric, automated systems designed to store, move, and blend sand and fluids on the low-pressure side of well completion sites. It measures its activity based on the number of its fully utilized systems.