Filing Flows › Solaris Energy Infrastructure (SEI) › Q1 2026
Solaris Energy Infrastructure (SEI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Solaris Energy Infrastructure (SEI) reported revenue of $196M for the first quarter 2026 (Q1 2026), +55% from a year earlier and +9% from the quarter before. Operating margin was 25.8%, net earnings $21.4M (10.9% of revenue).
Solaris Energy Infrastructure, Q1 2026: revenue $196M (+55% year over year), operating margin 25.8%, net earnings $21.4M, operating cash flow $79.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $196M | +9% | +55% |
| Operating profit | $50.6M | +27% | +129% |
| Net earnings | $21.4M | — | +303% |
| Operating cash flow | $79.0M | -18% | +207% |
What changed
Revenue was $196.2M in Q1 2026, up 55% year over year and up 9% from the previous quarter. Solaris Power Solutions was the largest line at 65% of revenue. Solaris Power Solutions added $79.2M year over year (up 161%), 113% of the total change. Solaris Logistics Solutions declined 12%.
Operating profit was $50.6M, a 25.8% margin (up 8.3 points year over year). Of the extra revenue versus Q1 2025, 41% reached operating profit, above the 17% margin then. Total costs grew 40% against revenue growth of 55%. The fastest-growing cost line was Other operating costs (+40%). Net earnings were $21.4M, up 303% year over year. The effective tax rate was 32.2%.
Operating cash flow was $79.0M (up 207% year over year), 246% of net income including minority interests. Non-cash charges added back $24.8M of depreciation and amortization and $6.7M of share-based compensation. Working capital and other items added $15.5M. Capital expenditures of $343.4M exceeded it, leaving free cash flow of −$264.3M.
Questions
What was Solaris Energy Infrastructure's revenue in the first quarter 2026?
Solaris Energy Infrastructure (SEI) reported revenue of $196M for the first quarter 2026 (Q1 2026), +55% from a year earlier and +9% from the quarter before.
Was Solaris Energy Infrastructure profitable in the first quarter 2026?
Operating profit was $50.6M (25.8% of revenue) and net earnings $21.4M.