Filing Flows › Select Water Solutions (WTTR) › Q1 2026
Select Water Solutions (WTTR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Select Water Solutions (WTTR) reported revenue of $366M for the first quarter 2026 (Q1 2026), -2% from a year earlier and +6% from the quarter before. Operating margin was 4.9%, net earnings $8.6M (2.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $366M | +6% | -2% |
| Gross profit | $65.3M | +44% | +17% |
| Operating profit | $18.0M | — | +16% |
| Net earnings | $8.6M | — | +4% |
| Operating cash flow | $10.2M | -84% | — |
What changed
Revenue was $366.0M in Q1 2026, down 2% year over year and up 6% from the previous quarter. Water Services was the largest line at 52% of revenue. Water Services lost $34.4M year over year (down 15%), 408% of the total change.
Gross margin was 17.8%, up 2.9 points from Q1 2025. Operating profit was $18.0M, a 4.9% margin (up 0.8 points year over year). Operating expenses grew 18% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+142%). Net earnings were $8.6M, up 4% year over year. The effective tax rate was 20.5%.
Operating cash flow was $10.2M, 109% of net income including minority interests. Non-cash charges added back $46.9M of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items used $51.9M. Capital expenditures of $78.4M exceeded it, leaving free cash flow of −$68.1M.
Questions
What was Select Water Solutions' revenue in the first quarter 2026?
Select Water Solutions (WTTR) reported revenue of $366M for the first quarter 2026 (Q1 2026), -2% from a year earlier and +6% from the quarter before.
Was Select Water Solutions profitable in the first quarter 2026?
Operating profit was $18.0M (4.9% of revenue) and net earnings $8.6M.