Filing Flows › Select Water Solutions (WTTR) › Q1 2025
Select Water Solutions (WTTR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Select Water Solutions (WTTR) reported revenue of $374M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +7% from the quarter before. Operating margin was 4.2%, net earnings $8.2M (2.2% of revenue).
Select Water Solutions, Q1 2025: revenue $374M (+2% year over year), operating margin 4.2%, net earnings $8.2M, operating cash flow −$5.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $374M | +7% | +2% |
| Gross profit | $55.8M | +26% | +6% |
| Operating profit | $15.5M | +497% | +122% |
| Net earnings | $8.2M | — | +127% |
| Operating cash flow | −$5.1M | -107% | — |
What changed
Revenue was $374.4M in Q1 2025, up 2% year over year and up 7% from the previous quarter. Water Services was the largest line at 60% of revenue. Water Infrastructure added $8.9M year over year (up 14%), 113% of the total change. Water Services declined 1%.
Gross margin was 14.9%, up 0.5 points from a year earlier. Operating profit was $15.5M, a 4.2% margin (up 2.2 points year over year). Of the extra revenue versus a year earlier, 109% reached operating profit, above the 2% margin then. Operating expenses fell 12% while revenue rose 2%. The fastest-growing cost line was Other operating costs (+65%). Net earnings were $8.2M, up 127% year over year. The effective tax rate was 23.2%.
Operating cash flow was −$5.1M. Non-cash charges added back $39.6M of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items used $57.7M. Capital expenditures of $48.4M exceeded it, leaving free cash flow of −$53.5M.
Questions
What was Select Water Solutions' revenue in the first quarter 2025?
Select Water Solutions (WTTR) reported revenue of $374M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +7% from the quarter before.
Was Select Water Solutions profitable in the first quarter 2025?
Operating profit was $15.5M (4.2% of revenue) and net earnings $8.2M.