Select Water Solutions, Inc. provides water management solutions to the energy industry in the United States. It operates in three segments: Water Infrastructure, Water Services, and Chemical Technologies. Its Water Infrastructure segment engages in the recycling, gathering, transferring, and disposal of water through a network of permanent pipeline infrastructure, water recycling and treatment facilities, water storage facilities, and SWDs and landfills; fluid disposals; pipelines and logistics; and solid management services. The Water Services segment offers water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; AquaView automation services; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services; and various surface rental equipment and workforce accommodation services. The Chemical Technologies segment offers technical solutions, products, and services related to chemical applications in the oil and gas industry; and water treatment and flow assurance solutions. This segment also develops, manufactures, manages logistics, and provides chemicals, including polymers for use in hydraulic fracturing, stimulation, cementing, and well completions; and offers production chemical solutions for underperforming wells, corrosion and scale monitoring, chemical inventory management, well failure analysis, and lab services. It serves oil and gas producers. The company was formerly known as Select Energy Services, Inc. and changed its name to Select Water Solutions, Inc. in May 2023. Select Water Solutions, Inc. was founded in 2008 and is headquartered in Gainesville, Texas.
Q3 earnings miss and soft Q4 Water Services guidance offset by record Water Infrastructure results and Pilot Water acquisition integration, creating mixed near-term sentiment.
Select reported Q3 2026 adjusted EPS of $0.16 versus the $0.17 consensus, a -5.88% surprise, despite revenue of $412M (+28% YoY) and Adjusted EBITDA of $93.5M (+57% YoY). The headline EPS miss is likely to weigh on near-term sentiment even as segment-level results were strong.
Yahoo Finance / ZacksManagement guided Q4 2026 Adjusted EBITDA to $95-100M, reflecting the Peak Rentals deconsolidation and a partial Pilot Water contribution, with Water Infrastructure revenue guided to $150-160M. The guidance frames the near-term earnings trajectory and will drive post-earnings analyst revisions.
Select Water Solutions Press ReleaseSelect closed its acquisition of Pilot Water Solutions for ~$700M (~$600M cash plus 5.15M Class A shares), expanding its Delaware Basin water midstream position. The deal adds contractual revenue and minimum volume commitments, but the share issuance and a VWAP true-up provision introduce dilution and overhang considerations.
Select Water Solutions Press ReleaseSelect completed an upsized $900M inaugural senior notes offering to fund the Pilot Water acquisition and repay its term loan, and entered a new $500M revolving credit facility, more than doubling liquidity. The strengthened balance sheet supports integration but raises leverage and interest expense near term.
Select Water Solutions Press ReleaseSelect completed the recapitalization and sale of a 55% majority interest in Peak Rentals, deconsolidating the business while retaining a minority stake. The move reshapes segment reporting and drives the Q4 Water Services revenue decline guidance, a near-term modeling headwind.
Select Water Solutions Press Release