Solaris Energy Infrastructure Announces Second Quarter 2025 Results

Solaris Energy Infrastructure, Inc., headquartered in Houston, Texas, has released its financial and operational results for the second quarter of 2025. The company, which provides mobile and scalable equipment-based solutions for distributed power generation and raw material management in the energy sector, reported significant growth in revenue and profitability.

Financial Highlights

For the second quarter of 2025, Solaris reported a revenue of $149 million, marking an 18% increase from the first quarter of 2025. The net income for the quarter was $24 million, translating to $0.30 per diluted Class A common share. Adjusted pro forma net income stood at $25 million, or $0.34 per fully diluted share. The company's total Adjusted EBITDA was $61 million, a 29% sequential increase from the first quarter of 2025.

Business and Operational Highlights

Solaris' Power Solutions segment saw substantial growth, with revenue increasing by 53% sequentially to $76 million. The segment's Adjusted EBITDA rose by 43% to $46 million, driven by growth in owned megawatts, increased leased capacity, and higher-than-expected capacity start-up and commissioning. Conversely, the Logistics Solutions segment experienced a 4% decline in revenue to $74 million, with a corresponding 13% decrease in Segment Adjusted EBITDA to $23 million, primarily due to lower commodity prices and higher fixed cost absorption.

Strategic Initiatives and Corporate Developments

During the second quarter, Solaris closed $155 million of 4.75% senior convertible notes. Additionally, the Stateline JV secured a $550 million senior secured loan facility, with an initial draw of $72 million. As of June 30, 2025, Solaris' consolidated total debt was $535 million, with consolidated total cash at $139 million. The company also approved a third-quarter 2025 dividend of $0.12 per share, marking its 28th consecutive dividend.

Management's Perspective

Bill Zartler, Solaris' Chairman and CEO, expressed satisfaction with the company's performance, highlighting the expansion of the power fleet, accelerated power delivery for a data center project, and the installation of emissions control equipment. Zartler emphasized the strong prospects for continued growth in the Power Solutions segment.

Future Outlook

Solaris has increased its third-quarter 2025 Adjusted EBITDA guidance to $58-63 million, up from the previous $55-60 million. The company has also set its fourth-quarter 2025 Adjusted EBITDA guidance in line with the third quarter at $58-63 million.

SEC Filing: Solaris Energy Infrastructure, Inc. [ SOI ] - 8-K - Jul. 23, 2025