Select Water Solutions, Inc. filed an 8-K on November 9, 2026, disclosing its financial and operating results for the quarter ended September 30, 2026, including record Water Infrastructure revenue and the completion of two strategic transactions.

Key Highlights

  • Consolidated revenue of $412 million in Q3 2026, up $90 million or 28% year-over-year from $322 million in Q3 2025, according to the filing.
  • Net income of $22.9 million in Q3 2026, compared to net income of $2.3 million in Q3 2025 and $22.6 million in Q2 2026.
  • Adjusted EBITDA of $93.5 million in Q3 2026, an increase of $34 million or 57% year-over-year from $59.5 million in Q3 2025.
  • Record Water Infrastructure segment revenue of $110 million, up 40% year-over-year from $79 million in Q3 2025.
  • Produced water volumes handled reached 1.7 million barrels per day in Q3 2026, an increase of more than 30% relative to Q3 2025, the filing stated.
  • Recapitalization and sale of a 55% majority interest in Peak Rentals completed late in Q3 2026, with the company retaining a minority ownership position.
  • Subsequent to quarter end, the company closed the acquisition of Pilot Water Solutions and entered into a new $500 million revolving credit facility, according to the filing.

Select Water Solutions Reports Q3 2026 Results Across All Three Segments

Select Water Solutions, Inc. (NYSE:WTTR), based in Gainesville, Texas, disclosed its third quarter 2026 results on November 9, 2026. The company reported consolidated revenue of $412 million for the quarter ended September 30, 2026, compared to $396 million in Q2 2026 and $322 million in Q3 2025. Gross profit was $81.4 million in Q3 2026, yielding a total gross margin of 19.7%, compared to 13.5% in Q3 2025. SG&A for Q3 2026 was $53.6 million, which the filing noted included $7.4 million of transaction costs.

The Water Infrastructure segment, which the company described as producing record revenue and gross profit, generated $110 million in Q3 2026 revenues, up 8.4% sequentially from $102 million in Q2 2026. Gross margin before depreciation and amortization for the segment was 57.2% in Q3 2026. The Water Services segment contributed $212 million in revenues for Q3 2026, up 7.1% sequentially from $198 million in Q2 2026, driven primarily by revenue gains in the Permian Basin region, according to the filing. The Chemical Technologies segment generated revenues of $90 million in Q3 2026, compared to $96 million in Q2 2026 and $77 million in Q3 2025.

Regarding strategic activity, the filing disclosed that subsequent to quarter end, Select closed on an "upsized $900 million inaugural senior notes offering" to fund the Pilot Water acquisition and repayment of its existing term loan, and also entered into a new $500 million revolving credit facility. For the fourth quarter of 2026, the company anticipates Water Infrastructure revenues of $150 to $160 million, Water Services revenues of $150 to $160 million, and total Adjusted EBITDA in the range of $95 to $100 million. The company also stated it now anticipates net capital expenditures for full-year 2026 of approximately $300 to $310 million. These figures represent the company's own expectations and are subject to its cautionary language regarding forward-looking statements.

What Was Disclosed

Select Water Solutions disclosed Q3 2026 consolidated revenue of $412 million, net income of $22.9 million, and Adjusted EBITDA of $93.5 million, alongside the completion of the Peak Rentals majority interest sale and the post-quarter close of the Pilot Water Solutions acquisition.