Solaris Energy Infrastructure, Inc. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Highlights: Record quarter with strong sequential growth in revenue and adjusted EBITDA. Company executing on power infrastructure strategy for data centers, securing/expanding long-term contracts with investment-grade tech customers, completing acquisitions (e.g., GESA in July 2026), and investing in SMR nuclear tech. Emphasis on behind-the-meter power solutions amid grid delays. Logistics segment remains a steady FCF contributor.

Financial Performance (Q2 2026 vs. Q1 2026)

  • Revenue: $219 million (+12% sequentially).
  • Adjusted EBITDA: $108 million (+30% sequentially); attributable to Solaris (excl. NCI in Stateline JV): ~$111 million.
  • Net income: $25 million; adjusted pro forma net income: $37 million ($0.39 per fully diluted share).
  • Power Solutions segment: Revenue $158 million (+23%), Adj. EBITDA $96 million (+34%), avg. capacity 950 MW (+4% from 910 MW).
  • Logistics segment: Revenue $61 million (-10%), Adj. EBITDA $25 million (+7%).
  • Liquidity: >$800 million cash + undrawn $650 million revolver (~$1.4 billion total); issued $1.3 billion senior notes; corporate ratings BB-/Ba3/BB.
  • Dividend: $0.12 per share (32nd consecutive; approved Aug 4, 2026).

Operational & Commercial Updates

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Operator: Good morning, and welcome to the Solaris Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded. I would now like to turn the conference over to Yvonne Fletcher, Senior Vice President of Finance and Investor Relations. Please go ahead, ma'am. Yvonne Fletcher: Thank you, operator. Good morning, and welcome to the Solaris Second Quarter 2026 Earnings Conference Call. Joining us today are our Chairman and Co-CEO, Bill Zartler; our Co-CEO and Director, Amanda Brock; our President, Kyle Ramachandran; and our CFO, Steve Tompsett. Before we begin, I'd like to remind you that some of the statements we will make today are forward-looking and reflect a number of known and unknown risks. Please refer to our press release issued yesterday, along with other recent public filings with the Securities and Exchange Commission that outline those risks. I would like to point out that our earnings release and today's conference call will contain discussion of non-GAAP financial measures. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are available in our earnings release, which is posted in the News section on our website. Additionally, we encourage you to refer to our earnings supplement slide deck, which was published last night on the Investor Relations section of our website u

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