Solaris Oilfield Infrastructure, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Solaris Oilfield Infrastructure, Inc. has filed its Q1 2024 10-Q report detailing financial performance and asset information.</b>

AI Summary

Solaris Oilfield Infrastructure, Inc. (SEI) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Solaris Oilfield Infrastructure, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's principal business is oil and gas field machinery and equipment. The filing includes detailed financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. Specific asset categories like Vehicles, Machinery and Equipment, and Land are detailed as of March 31, 2024, and December 31, 2023.

Why It Matters

For investors and stakeholders tracking Solaris Oilfield Infrastructure, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Solaris Oilfield Infrastructure, Inc., crucial for understanding its operational performance and financial health in the current quarter. The detailed breakdown of assets and financial data across different periods allows for trend analysis and comparison, aiding investment decisions.

Risk Assessment

Risk Level: low — Solaris Oilfield Infrastructure, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual events or significant financial distress, suggesting a low level of immediate risk based on this document alone.

Analyst Insight

Review the detailed segment revenue and growth percentages for Wellsite Services and Transloading and Other to assess operational performance trends.

Financial Highlights

total Assets

28330000

total Debt

13674000

Revenue Breakdown

Key Numbers

• 28330000 — Total Assets (approx.) (As of March 31, 2024)
• 28967000 — Total Assets (approx.) (As of December 31, 2023)
• 13674000 — Total Debt (approx.) (As of March 31, 2024)
• 13674000 — Total Debt (approx.) (As of December 31, 2023)

Key Players & Entities

• Solaris Oilfield Infrastructure, Inc. (company) — Filer name
• 0001697500-24-000031 (filing_id) — Accession Number
• 20240331 (date) — Conformed Period of Report
• 20240426 (date) — Filed as of Date
• 3533 (sic_code) — Standard Industrial Classification for OIL & GAS FILED MACHINERY & EQUIPMENT
• DE (state) — State of Incorporation
• 10-Q (form_type) — Form Type
• 001-38090 (sec_file_number) — SEC File Number

FAQ

Key Dates

• 2024-03-31: Quarter End — Period covered by the 10-Q filing.
• 2024-04-26: Filing Date — Date the 10-Q report was officially submitted.

Key Financial Figures

• $0.01 — hich registered Class A Common Stock, $0.01 par value " SOI " New York Stock Ex
• $0.00 — 671,971 shares of Class B common stock, $0.00 par value per share, outstanding. Tabl

Filing Documents

• soi-20240331x10q.htm (10-Q) — 1103KB
• soi-20240331xex31d1.htm (EX-31.1) — 12KB
• soi-20240331xex31d2.htm (EX-31.2) — 12KB
• soi-20240331xex32d1.htm (EX-32.1) — 8KB
• soi-20240331xex32d2.htm (EX-32.2) — 8KB
• 0001697500-24-000031.txt (&nbsp;) — 4459KB
• soi-20240331.xsd (EX-101.SCH) — 27KB
• soi-20240331_cal.xml (EX-101.CAL) — 48KB
• soi-20240331_def.xml (EX-101.DEF) — 172KB
• soi-20240331_lab.xml (EX-101.LAB) — 297KB
• soi-20240331_pre.xml (EX-101.PRE) — 229KB
• soi-20240331x10q_htm.xml (XML) — 530KB

: FINANCIAL INFORMATION

PART I : FINANCIAL INFORMATION 3 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 20

: OTHER INFORMATION

PART II: OTHER INFORMATION 21 Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 23

SIGNATURES

SIGNATURES 24 i Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Quarterly Report") includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Our forward-looking statements include statements about our business strategy, our industry, our future profitability, our expected capital expenditures and the impact of such expenditures on our performance, management changes, current and potential future long-term contracts, the costs of being a publicly traded corporation, our capital programs and our future business and financial performance. In addition, our forward-looking statements address the various risks and uncertainties associated with extraordinary market environments and the expected impact on our businesses, results of operations, and earnings. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable. You are cautioned not to place undue reliance on any forward-looking statements. You should also understand that it is not possible to predict or identify all such factors and should not consider the following list to be a complete statement of all potential risks and uncertainties. Factors that could cause our actual results to differ materially from the results contemplated by such forward-looking statements include:

: Financial Statements

Item 1: Financial Statements SOLARIS OILFIELD INFRASTRUCTURE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 3,424 $ 5,833 Accounts receivable, net of allowances for credit losses of $ 404 and $ 104 , respectively 46,411 44,916 Accounts receivable - related party 2,721 2,378 Prepaid expenses and other current assets 3,405 4,342 Inventories 6,924 6,672 Assets held for sale — 3,000 Total current assets 62,885 67,141 Property, plant and equipment, net 320,885 325,121 Non-current inventories 1,566 1,593 Non-current receivables, net of allowances of $ 862 and $ 862 , respectively 1,663 1,663 Operating lease right-of-use assets 10,394 10,721 Goodwill 13,004 13,004 Intangible assets, net 521 702 Deferred tax assets 45,861 48,010 Other assets 291 342 Total assets $ 457,070 $ 468,297 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 12,266 $ 12,654 Accrued liabilities 16,489 20,292 Current portion of payables related to Tax Receivable Agreement 2,684 — Current portion of operating lease liabilities 1,381 1,385 Current portion of finance lease liabilities 2,495 2,462 Other current liabilities — 408 Total current liabilities 35,315 37,201 Operating lease liabilities, net of current 11,251 11,541 Credit agreement 30,000 30,000 Finance lease liabilities, net of current 1,766 2,401 Payables related to Tax Receivable Agreement 68,846 71,530 Other long-term liabilities 44 44 Total liabilities 147,222 152,717 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.01 par value, 50,000 shares authorized, none issued and outstanding — — Class A common stock, $ 0.01 par value, 600,000 shares authorized, 28,330 shares and 28,967 sha

View Full Filing

View this 10-Q filing on SEC EDGAR