--- title: "Select Water Solutions | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 395.81 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294872922.md" datetime: "2026-08-04T21:04:51.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294872922.md) - [en](https://longbridge.com/en/news/294872922.md) - [zh-HK](https://longbridge.com/zh-HK/news/294872922.md) --- # Select Water Solutions | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 395.81 M Revenue: As of FY2026 Q2, the actual value is USD 395.81 M, beating the estimate of USD 373.02 M. EPS: As of FY2026 Q2, the actual value is USD 0.17. EBIT: As of FY2026 Q2, the actual value is USD 34.51 M. #### Operational Metrics Select Water Solutions, Inc. reported net income of $22,562 thousand for the second quarter of 2026, an increase from $9,432 thousand in Q1 2026 and $11,671 thousand in Q2 2025.Gross profit for Q2 2026 was $76,841 thousand, up from $65,280 thousand in Q1 2026 and $57,753 thousand in Q2 2025.The total gross margin was 19.4% in Q2 2026, compared to 17.8% in Q1 2026 and 15.9% in Q2 2025.Gross profit before depreciation, amortization, and accretion (D&A) was $124,066 thousand in Q2 2026, an increase from $111,022 thousand in Q1 2026 and $98,807 thousand in Q2 2025.Gross margin before D&A was 31.3% in Q2 2026, compared to 30.3% in Q1 2026 and 27.1% in Q2 2025.Selling, General and Administrative (SG&A) expenses were $41,178 thousand in Q2 2026, compared to $40,551 thousand in Q1 2026 and $38,935 thousand in Q2 2025.Income from operations was $34,344 thousand in Q2 2026, increasing from $17,968 thousand in Q1 2026 and $15,425 thousand in Q2 2025.Adjusted EBITDA reached $92,747 thousand in Q2 2026, up from $77,624 thousand in Q1 2026 and $72,614 thousand in Q2 2025. #### Segment Revenue Water Infrastructure revenue was $101,614 thousand in Q2 2026, an increase of 5.0% sequentially from $96,736 thousand in Q1 2026, and a 26% increase compared to $80,855 thousand in Q2 2025.Water Services revenue was $198,153 thousand in Q2 2026, up 3.6% sequentially from $191,231 thousand in Q1 2026, but down from $215,660 thousand in Q2 2025.Chemical Technologies revenue was $96,040 thousand in Q2 2026, an increase of 23% sequentially from $77,991 thousand in Q1 2026, and up from $67,700 thousand in Q2 2025. #### Segment Gross Margin Before D&A Water Infrastructure gross margin before D&A was 58.3% in Q2 2026, compared to 56.2% in Q1 2026 and 55.2% in Q2 2025.Water Services gross margin before D&A was 23.0% in Q2 2026, compared to 21.8% in Q1 2026 and 19.6% in Q2 2025.Chemical Technologies gross margin before D&A was 20.2% in Q2 2026, compared to 19.1% in Q1 2026 and 17.5% in Q2 2025. #### Cash Flow Cash flow provided by operating activities was $86,736 thousand in Q2 2026, significantly up from $10,242 thousand in Q1 2026 and $82,586 thousand in Q2 2025.Free cash flow was $17,015 thousand in Q2 2026, compared to - $67,079 thousand in Q1 2026 and $10,839 thousand in Q2 2025. #### Capital Expenditures Net capital expenditures for Q2 2026 were $69,700 thousand, including $71,019 thousand in capital expenditures and $1,298 thousand from asset sales proceeds.Cash flows from investing activities included $41,992 thousand of acquisition-related outflows in Q2 2026. #### Balance Sheet Highlights Total cash and cash equivalents were $33,396 thousand as of June 30, 2026, compared to $55,970 thousand as of March 31, 2026, and $18,084 thousand as of December 31, 2025.Total liquidity stood at $277,800 thousand as of June 30, 2026, compared to $307,700 thousand as of March 31, 2026, and $163,600 thousand as of December 31, 2025.The company had $250,000 thousand of term loan borrowings outstanding and $12,900 thousand under an agricultural loan as of June 30, 2026, with no amounts drawn on the revolving credit facility. #### Unique Operational Metrics Approximately 1.5 million barrels of produced water were recycled or disposed of per day in the Water Infrastructure segment during Q2 2026.Select Water Solutions, Inc. executed a definitive agreement for the conveyance of 14 saltwater disposal wells and the development of a new pipeline project with a 128-million-barrel minimum volume commitment in the Northern Delaware Basin.The company signed multiple additional commercialization contracts, including MVC agreements, acreage dedications, and a new mineral extraction agreement for iodine extraction across its portfolio. #### Outlook / Guidance Select Water Solutions, Inc. expects Water Infrastructure revenues to increase by 5% – 10% in Q3 2026 compared to Q2 2026, with margins ranging from 56% – 58%. The company anticipates steady revenues for its Water Services segment in Q3 2026, with gross margins before D&A between 21% – 22%. For the Chemical Technologies segment, Q3 2026 revenues are projected to be $85 million – $90 million, with gross margins before D&A expected to be 20% – 21%. ### Related Stocks - [WTTR.US](https://longbridge.com/en/quote/WTTR.US.md) ## Related News & Research - [WTTR: Infrastructure-led growth, recycling focus, and long-term contracts drive strong financial results](https://longbridge.com/en/news/296273655.md) - [Select Water targets upper end of 2026 Water Infrastructure revenue growth guidance of 25%-30%](https://longbridge.com/en/news/296273952.md) - [Select Water Solutions signs amended 12-year water management deal covering 875,000 acres in Northern Delaware Basin](https://longbridge.com/en/news/296218179.md) - [WTTR: Record Q2 2026 results driven by segment growth, strategic deals, and robust outlook](https://longbridge.com/en/news/294878661.md) - [Select Water Solutions Q2 revenue beats on Water Infrastructure segment growth](https://longbridge.com/en/news/294871166.md)