Select Water Solutions
Manages oilfield water through pipelines, recycling, disposal, field services, and chemistry.
Something off on this page? Send us feedback.
Profile
Provides water infrastructure, field logistics, and specialty chemicals to U.S. oil and gas operators. Revenue comes from operating pipelines, recycling and disposal assets, performing wellsite services, and selling chemicals, with more infrastructure revenue tied to long-term agreements while most service and chemical contracts remain short term.
Provides oilfield water management and chemicals across major U.S. shale basins through Water Infrastructure, Water Services, and Chemical Technologies. Water Infrastructure operates pipelines, recycling facilities, saltwater disposal wells, storage, and solids-management assets. Water Services handles sourcing, transfer, containment, monitoring, automation, rentals, and well-testing support. Chemical Technologies develops and manufactures completion and produced-water treatment chemicals.
Combines fixed networks with field logistics and in-basin chemical manufacturing so customers can gather, treat, reuse, and dispose of produced water. Infrastructure contracts increasingly include long-term volume or acreage commitments, while most service and chemical contracts remain short term.
Operations are concentrated in U.S. onshore oil and gas, with the Permian Basin a core infrastructure focus. Demand depends on drilling and completion activity, customer capital allocation, commodity-price conditions, and rules governing water sourcing, recycling, underground injection, seismicity, and waste disposal.
Company facts
Key statistics
Year to date +73.8% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Cowen & Co. | Downgrade | Neutral | |||
| Aug 6, 2026 | Raymond James | Downgrade | Strong Buy | Outperform | $24 | $26 |
| May 18, 2026 | Piper Sandler | Reiterate | Overweight | $14 | $21 | |
| May 7, 2026 | Raymond James | Target | $16 | $24 | ||
| May 7, 2026 | Northland Securities | Target | $18 | $21 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.13 | $0.17 | +28.1% | $373.3M | $395.8M | +6.0% | +20.32% |
| May 5, 2026Q1 FY26 | $0.06 | $0.08 | +28.9% | $344.6M | $366.0M | +6.2% | +1.16% |
| Feb 17, 2026Q4 FY25 | $0.01 | $0.00 | −134.0% | $321.6M | $346.5M | +7.7% | +8.67% |
| Nov 4, 2025Q3 FY25 | $0.03 | $0.03 | 0.0% | $320.9M | $322.2M | +0.4% | −1.71% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $374.4M | $364.2M | $322.2M | $346.5M | $366.0M | $395.8M | |
| Gross profit | $55.8M | $57.8M | $87.1M | $44.2M | $64.2M | $76.8M | |
| Operating income | $15.5M | $15.4M | −$1.8M | $878.0K | $23.9M | $34.3M | |
| Net income | $8.2M | $10.6M | $2.7M | −$346.0K | $8.6M | $21.0M | |
| Diluted EPS | $0.08 | $0.10 | $0.03 | −$0.00 | $0.08 | $0.17 | |
| Gross margin | 14.9% | 15.9% | 27.0% | 12.7% | 17.5% | 19.4% | |
| Operating margin | 4.2% | 4.2% | -0.5% | 0.3% | 6.5% | 8.7% |
Fiscal years (4-quarter sums)FY21 $764.6M · FY22 $1.39B · FY23 $1.59B · FY24 $1.45B · FY25 $1.41B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $33.4M · Total debt $291.3M · Total assets $1.79B · Shareholders' equity $1.05B
Dividends
Raised for 2 straight years — most recently to $0.07 from $0.06 in Nov 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 7, 2026 | Aug 7 | Aug 19 | $0.07 | |
| Apr 30, 2026 | Apr 30 | May 13 | $0.07 | |
| Feb 6, 2026 | Feb 6 | Feb 18 | $0.07 | |
| Nov 7, 2025 | Nov 7 | Nov 17 | $0.07 | |
| Aug 5, 2025 | Aug 5 | Aug 15 | $0.07 | |
| May 6, 2025 | May 6 | May 16 | $0.07 | |
| Feb 4, 2025 | Feb 4 | Feb 14 | $0.07 | |
| Nov 5, 2024 | Nov 5 | Nov 15 | $0.07 | raised from $0.06 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 109.62M · Float —
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 11.69M | 10.66% | 13F | Aug 7, 2026 |
| Franklin Resources Inc | 11.21M | 10.22% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 6.52M | 5.95% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 5.21M | 4.75% | 13F | Aug 13, 2026 |
| American Century Companies Inc | 4.17M | 3.80% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 19, 2026 | Crestview Partners II GP, L.P. | 10 percent owner | −3,250,000 | $18.92 |
| May 15, 2026 | Richard Alan Burnett | director | −45,316 | $18.74 |
| May 14, 2026 | Richard Alan Burnett | director | −19,684 | $18.73 |
| May 11, 2026 | Brian Szymanski | officer: Chief Accounting Officer | −20,000 | $17.04 |
| May 12, 2026 | Michael Skarke | officer: EVP & COO | −20,000 | $17.78 |
Peers
- Western Midstream Partners
Dominant Delaware Basin produced-water midstream platform post-Aris merger
- NGL Energy Partners
Delaware Basin's largest produced-water pipeline and disposal network
- TETRA Technologies
Completion fluids and produced-water transfer/treatment platform
- Halliburton
Big-Three OFS major; frac chemistry and completion-fluid portfolio
- SLB
Largest global OFS company; dominant production-chemistry player post-ChampionX
- LandBridge
Permian surface-rights owner monetizing produced-water disposal via royalties
- Innospec
Specialty-chemicals firm with oilfield production and stimulation chemistry
- Liberty Energy
Largest NA frac contractor; on-fleet water handling and in-house frac chemistry
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Select Water Solutions | $19.28 | +0.05% | $2.11B | 71.7 | 28.1 | 1.5 | +8.7% |
| Western Midstream Partners | $48.33 | +0.13% | $19.96B | 15.1 | 12.5 | 4.6 | +30.0% |
| NGL Energy Partners | $18.15 | +0.72% | $2.25B | — | 14.3 | 0.6 | +59.1% |
| TETRA Technologies | $6.77 | −0.64% | $995.6M | 132.5 | 22.2 | 1.6 | +6.8% |
| Halliburton | $36.73 | +1.53% | $30.22B | 18.9 | 14.3 | 1.4 | +3.7% |
| SLB | $57.61 | +0.50% | $85.09B | 28.0 | 20.2 | 2.3 | +5.0% |
| LandBridge | $86.94 | −0.03% | $6.70B | 39.3 | 39.7 | 29.7 | +40.5% |
| Innospec | $95.38 | −0.01% | $2.35B | 19.5 | 16.7 | 1.3 | +11.8% |
| Liberty Energy | $19.12 | +0.47% | $3.10B | 25.6 | 289.3 | 0.7 | +14.0% |
| Median | 25.6 | 18.4 | 1.5 | +12.9% |