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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Total revenue $ 371,349 $ 389,273 $ 1,103,028 $ 1,210,493
Costs of revenue        
Depreciation, amortization and accretion 38,906 34,650 113,243 102,776
Total costs of revenue 308,900 333,008 927,746 1,033,389
Gross profit 62,449 56,265 175,282 177,104
Operating expenses        
Selling, general and administrative 37,268 38,983 120,229 109,147
Depreciation and amortization 661 512 2,667 1,846
Impairments and abandonments   32 91 11,554
Lease abandonment costs 5 (12) 411 73
Total operating expenses 37,934 39,515 123,398 122,620
Income from operations 24,515 16,750 51,884 54,484
Other income (expense)        
Gain on sales of property and equipment and divestitures, net 1,624 23 2,331 1,688
Interest expense, net (1,906) (765) (5,204) (4,290)
Other (78) 767 (318) 2,482
Income before income tax expense and equity in gains (losses) of unconsolidated entities 24,155 16,775 48,693 54,364
Income tax expense (5,852) (483) (11,263) (1,068)
Equity in gains (losses) of unconsolidated entities 507 (978) 154 (1,716)
Net income 18,810 15,314 37,584 51,580
Less: net income attributable to noncontrolling interests (3,019) (968) (5,300) (4,772)
Net income attributable to Select Water Solutions, Inc. 15,791 14,346 32,284 46,808
Water Services        
Revenue        
Total revenue 234,019 251,870 692,334 791,145
Costs of revenue        
Costs of revenue 186,041 200,361 545,881 626,878
Water Infrastructure        
Revenue        
Total revenue 82,017 58,375 214,089 169,118
Costs of revenue        
Costs of revenue 35,503 34,992 102,776 103,718
Chemical Technologies        
Revenue        
Total revenue 55,313 79,028 196,605 250,230
Costs of revenue        
Costs of revenue 48,450 63,005 165,846 200,017
Class A common stock        
Other income (expense)        
Net income attributable to Select Water Solutions, Inc. $ 15,791 $ 14,346 $ 32,284 $ 46,808
Net income per share attributable to common stockholders (Note 15):        
Basic $ 0.16 $ 0.14 $ 0.32 $ 0.46
Diluted $ 0.15 $ 0.14 $ 0.32 $ 0.45