Solaris Energy Lifts 3Q EBITDA Outlook to $110M-$130M, Up 22% at Midpoint
SEI has more than doubled off its 52-week low of $24.57.
Summary
Solaris Energy Infrastructure raised its third-quarter adjusted EBITDA guidance to $110M-$130M, up from the prior range of $90M-$105M. The company now sees fourth-quarter adjusted EBITDA of $145M-$180M, versus prior guidance of $100M-$120M. Additionally, Solaris expects first-quarter adjusted EBITDA of $200M-$240M. The midpoint increase for the third quarter of roughly $22.5M, or 23%, signals stronger-than-expected operating performance, likely driven by recent acquisitions including Global Energy Services Alliance and Omega. This is a material positive revision that should support the stock.
At the time of this announcement, SEI was trading at $57.22 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $24.57 to $86.19. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.