Solaris Oilfield Infrastructure (SOI) Q3 Results - Oct 31
Posted: Thu Oct 31, 2019 12:40 pm
Third Quarter 2019 Highlights
Net income of $19.1 million, or $0.36 per diluted Class A share, for the quarter ended September 30, 2019, which includes a $0.01 per diluted Class A share charge related to severance and loss on disposal of assets
Adjusted pro forma net income of $17.7 million, or $0.37 per diluted share < Compares to my forecast of $0.34 EPS.
Adjusted EBITDA of $31.2 million for the quarter ended September 30, 2019
Net cash provided by operating activities of $31.1 million for the quarter ended September 30, 2019
Positive free cash flow of $26.9 million for the quarter ended September 30, 2019
Paid a regular quarterly dividend of $0.10 per share on September 26, 2019
Solaris Oilfield Infrastructure, Inc. (SOI) (“Solaris” or the “Company”), a leading independent provider of supply chain management and logistics solutions designed to drive efficiencies and reduce costs for the oil and natural gas industry.
Capital Expenditures, Free Cash Flow and Liquidity
The Company invested $4.2 million during third quarter 2019, which included investments in its mobile proppant and chemical management systems.
Free cash flow (defined as net cash provided by operating activities less investment in property, plant and equipment) during third quarter 2019 was $26.9 million, which represented the third consecutive quarter of positive free cash flow for the Company. Year-to-date 2019, the Company has generated $55.6 million of free cash flow.
As of September 30, 2019, the Company had approximately $51.7 million of cash on the balance sheet, which reflects over $1.00 per fully diluted share of cash. The Company currently has approximately $101.7 million of liquidity, including available cash and $50.0 million of availability under its undrawn credit facility.
Net income of $19.1 million, or $0.36 per diluted Class A share, for the quarter ended September 30, 2019, which includes a $0.01 per diluted Class A share charge related to severance and loss on disposal of assets
Adjusted pro forma net income of $17.7 million, or $0.37 per diluted share < Compares to my forecast of $0.34 EPS.
Adjusted EBITDA of $31.2 million for the quarter ended September 30, 2019
Net cash provided by operating activities of $31.1 million for the quarter ended September 30, 2019
Positive free cash flow of $26.9 million for the quarter ended September 30, 2019
Paid a regular quarterly dividend of $0.10 per share on September 26, 2019
Solaris Oilfield Infrastructure, Inc. (SOI) (“Solaris” or the “Company”), a leading independent provider of supply chain management and logistics solutions designed to drive efficiencies and reduce costs for the oil and natural gas industry.
Capital Expenditures, Free Cash Flow and Liquidity
The Company invested $4.2 million during third quarter 2019, which included investments in its mobile proppant and chemical management systems.
Free cash flow (defined as net cash provided by operating activities less investment in property, plant and equipment) during third quarter 2019 was $26.9 million, which represented the third consecutive quarter of positive free cash flow for the Company. Year-to-date 2019, the Company has generated $55.6 million of free cash flow.
As of September 30, 2019, the Company had approximately $51.7 million of cash on the balance sheet, which reflects over $1.00 per fully diluted share of cash. The Company currently has approximately $101.7 million of liquidity, including available cash and $50.0 million of availability under its undrawn credit facility.