Aris Water Solutions, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 09:02 pm
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Aris Water Solutions, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 95.99 million compared to USD 76.27 million a year ago. Revenue was USD 96.63 million compared to USD 76.39 million a year ago. Net income was USD 4.7 million compared to USD 1.39 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to USD 0.05 a year ago.
For the six months, sales was USD 187.09 million compared to USD 147.24 million a year ago. Revenue was USD 188.2 million compared to USD 147.36 million a year ago. Net income was USD 8.08 million compared to net loss of USD 0.828 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.25 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
Aris Water Solutions, Inc. is an environmental infrastructure and solutions company. The Company helps customers reduce their water and carbon footprints. It delivers full-cycle water handling and recycling solutions for energy operations. Its integrated pipelines and related infrastructure create produced water management, recycling, and supply solutions to operators in the core areas of the Permian Basin. It manages its business through two streams: Produced Water Handling and Water Solutions. Its Produced Water Handling business gathers, transports and, unless recycled, handles produced water generated from oil and natural gas production. The Companyâs Water Solutions business develops and operates recycling facilities to treat, store and recycle produced water. It has approximately 745 miles of produced water pipeline, which includes approximately 550 miles of larger diameter pipelines and 66 produced water handling facilities and operates 23 produced water recycling.