Filing Flows › Select Water Solutions (WTTR) › Q1 2026 › vs Q4 2025
Select Water Solutions (WTTR) Q1 2026 vs Q4 2025 (quarter over quarter)
Select Water Solutions's revenue rose $19.5M (+6%) from $347M in Q4 2025 to $366M in Q1 2026. Gross margin 17.8% against 13.1% (+4.8 pts).
Select Water Solutions, Q1 2026: revenue $366M (-2% year over year), operating margin 4.9%, net earnings $8.6M, operating cash flow $10.2M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Gross margin | 17.8% | 13.1% | +4.8 pts |
| Operating margin | 4.9% | -0.1% | +5.0 pts |
| Net margin | 2.4% | -0.1% | +2.5 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $366M | $347M | $19.5M | +6% |
| Gross profit | $65.3M | $45.3M | $20.0M | +44% |
| Cost of revenue | $301M | $301M | −$503K | -0.2% |
| Operating profit | $18.0M | −$388K | $18.4M | — |
| Operating expenses | $47.3M | $45.7M | $1.6M | +4% |
| Pre-tax earnings | $11.9M | −$11.5M | $23.4M | — |
| Other expense, net | $6.1M | $11.1M | −$5.0M | -45% |
| SG&A | $40.6M | $43.3M | −$2.7M | -6% |
| Other operating costs | $6.8M | $2.4M | $4.3M | +178% |
| Net earnings | $8.6M | −$346K | $9.0M | — |
| Minority interests | $826K | −$1.7M | $2.5M | — |
| Income tax | $2.4M | −$9.5M | $11.9M | — |
| Operating cash sources | $61.3M | $57.8M | $3.5M | +6% |
| Depreciation & amortization | $46.9M | $52.4M | −$5.5M | -10% |
| Share-based compensation | $5.8M | $5.8M | $27K | +0.5% |
| Working capital & other | $51.1M | −$7.6M | $58.7M | — |
| Operating cash flow | $10.2M | $65.5M | −$55.2M | -84% |
| Capital expenditures | $78.4M | $71.5M | $6.9M | +10% |
| Negative free cash flow (OCF − capex) | $68.1M | $6.0M | $62.1M | 11× |
Questions
How much did Select Water Solutions's revenue grow quarter over quarter in Q1 2026?
Select Water Solutions's revenue rose $19.5M (+6%) from $347M in Q4 2025 to $366M in Q1 2026. Gross margin 17.8% against 13.1% (+4.8 pts).