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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Total revenue $ 365,131 $ 404,628 $ 731,679 $ 821,220
Costs of revenue        
Depreciation, amortization and accretion 37,445 35,183 74,337 68,126
Total costs of revenue 304,975 343,454 618,846 700,381
Gross profit 60,156 61,174 112,833 120,839
Operating expenses        
Selling, general and administrative 38,981 34,335 82,961 70,164
Depreciation and amortization 748 739 2,006 1,334
Impairments and abandonments 46 356 91 11,522
Lease abandonment costs 17 9 406 85
Total operating expenses 39,792 35,439 85,464 83,105
Income from operations 20,364 25,735 27,369 37,734
Other income (expense)        
Gain (loss) on sales of property and equipment and divestitures, net 382 (1,246) 707 1,665
Interest expense, net (2,026) (2,042) (3,298) (3,525)
Other 42 873 (240) 1,715
Income before income tax expense and equity in gains (losses) of unconsolidated entities 18,762 23,320 24,538 37,589
Income tax expense (3,959) (387) (5,411) (585)
Equity in gains (losses) of unconsolidated entities 96 (372) (353) (738)
Net income 14,899 22,561 18,774 36,266
Less: net income attributable to noncontrolling interests (2,031) (2,446) (2,281) (3,804)
Net income attributable to Select Water Solutions, Inc. 12,868 20,115 16,493 32,462
Water Services        
Revenue        
Total revenue 230,008 264,597 458,315 539,275
Costs of revenue        
Costs of revenue 178,308 206,576 359,840 426,517
Water Infrastructure        
Revenue        
Total revenue 68,564 55,277 132,072 110,743
Costs of revenue        
Costs of revenue 33,581 34,392 67,273 68,726
Chemical Technologies        
Revenue        
Total revenue 66,559 84,754 141,292 171,202
Costs of revenue        
Costs of revenue 55,641 67,303 117,396 137,012
Class A common stock        
Other income (expense)        
Net income attributable to Select Water Solutions, Inc. $ 12,868 $ 20,115 $ 16,493 $ 32,462
Net income per share attributable to common stockholders (Note 15):        
Basic $ 0.13 $ 0.20 $ 0.17 $ 0.31
Diluted $ 0.13 $ 0.20 $ 0.16 $ 0.31