Solaris Energy Infrastructure, Inc. Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Overview: Solaris reported strong Q1 2026 results driven by power segment expansion, new long-term contracts, and strategic acquisitions. The company is executing on its "molecule to electron" behind-the-meter power strategy for data centers, with total secured generation capacity now at 3.1 GW (+40% via recent deals).

Financial Highlights

  • Revenue: $196 million (no prior-period comparison provided in call).
  • Adjusted EBITDA: $84 million — +22% sequentially vs. Q4 2025; +79% year-over-year vs. Q1 2025.
  • Power Solutions EBITDA: $72 million — +30% sequentially vs. Q4 2025; operated >900 MW.
  • Logistics Solutions EBITDA: ~$23 million — +2% vs. Q4 2025; averaged 104 fully utilized systems.

Key Operational & Commercial Updates

  • Secured >2 GW of long-term power contracts (10-15 year terms) with 3 investment-grade technology companies. Recent additions: 600+ MW contract (announced Q1 end, energization late 2026, includes balance of plant); prior 500+ MW (Feb 2026) and 900 MW Stateline JV.
  • Acquired Genco Power Solutions (400 MW incremental capacity, 2026-2028) and 30 turbine slots (~500 MW, 2027-2029) — closed March 16, diversifying OEM base.
  • Logistics demand remains strong with top-fill equipment exceeding deployable supply.

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Operator: Good day, and welcome to the Solaris Quarter 1 2026 Earnings Teleconference and Webcast. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference to Yvonne Fletcher, Senior Vice President of Finance and Investor Relations. Please go ahead. Yvonne Fletcher: Thank you, operator. Good morning, and welcome to the Solaris First 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 under Events and

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