Aris Water Solutions, Inc. (NYSE: ARIS) recently released its financial and operational outcomes for the third quarter ending September 30, 2024. The company showcased impressive growth in various aspects of its business, reflecting a robust performance during the period.
Key Highlights of the Third Quarter 2024:
– Recycled water volumes surged by 25% sequentially and 16% versus the same quarter in 2023.
– Net income reached $16.4 million, marking a 34% increase compared to the third quarter of 2023.
– Adjusted EBITDA stood at $54.3 million, representing a 9% sequential increase and a significant 21% rise compared to the third quarter of 2023.
– The company maintained a solid balance sheet with quarter-end leverage of 2.0X and $292 million available under its revolving credit facility.
– Aris increased its 2024 Adjusted EBITDA outlook to a range of $208 to $212 million.
– The company affirmed its full-year 2024 Capital Expenditure guidance in the range of $98 to $105 million.
– The Board of Directors declared a dividend on Class A common stock for the fourth quarter of 2024 at $0.105 per share.
Amanda Brock, President and CEO of Aris, expressed pride in the company’s exceptional third-quarter performance. The company’s strategic collaboration with major operators is progressing well, aiming to enhance the beneficial reuse of treated produced water outside the oil and gas industry.
Looking Ahead:
Aris Water Solutions is focused on further advancing various strategic initiatives aimed at lowering its cost structure, strengthening customer relationships, and expanding its customer base. The company anticipates continued growth and potential revenues in 2025 related to mineral extraction from its produced water streams and other upcoming projects.
Despite challenges in the industry, Aris Water Solutions remains optimistic about the future. The company anticipates sustained volume growth, enhanced margins, and efficient capital investments in 2025, aiming to support both shareholder returns and growth projects in the long run.
For detailed financial data and further information, Aris Water Solutions will be conducting a conference call on Tuesday, November 5, 2024, at 8:00 a.m. Central Time. Interested participants can dial (877) 407-5792 or join the webcast accessible on the company’s Investor Relations website.
Aris Water Solutions, Inc. continues to innovate in the environmental infrastructure and solutions sector, focusing on reducing water and carbon footprints for its customers.
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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Aris Water Solutions’s 8K filing here.
Aris Water Solutions Company Profile
Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.
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