Select Water Solutions, Inc. reported a total revenue of $1.407 billion for the fiscal year ending December 31, 2025, a decrease of 3.1% from $1.452 billion in 2024. The decline was primarily attributed to a significant drop in revenue from the Water Services segment, which fell by 12.8% to $786.5 million, largely due to divestitures and reduced activity levels. In contrast, the Chemical Technologies segment saw an 18.5% increase in revenue, reaching $307.6 million, while the Water Infrastructure segment grew by 7.7% to $313.2 million, driven by higher recycling revenue and contributions from recently acquired assets.
The company's gross profit also decreased, falling to $202.4 million from $219.5 million in the previous year, reflecting a gross margin of 14.4%. This decline was influenced by a combination of lower gross profit in the Water Services segment and increased depreciation and amortization expenses. Operating expenses rose by 5.2% to $173.6 million, with notable increases in information technology costs and wages. As a result, net income decreased by 39.4% to $21.5 million, compared to $35.5 million in 2024.
In terms of strategic developments, Select Water Solutions executed several acquisitions in 2025, totaling $25.4 million, to enhance its water infrastructure footprint, particularly in the Permian Basin and Northeast regions. The company also acquired a Bakken platform from Omni Environmental Solutions, which included a landfill and a saltwater disposal well, while divesting lower-margin trucking operations. Additionally, Select formed AV Farms, a partnership aimed at consolidating water rights and storage assets in Colorado, with an expected total investment of $146 million.
Operationally, Select Water Solutions maintained a workforce of approximately 3,300 employees as of December 31, 2025. The company continues to focus on expanding its recycling capabilities and enhancing its infrastructure to meet the growing demand for sustainable water management solutions in the energy sector. The outlook for 2026 suggests a continued emphasis on sustainable production practices, with expectations of increased demand for integrated water management solutions, particularly in regions facing water scarcity.
Looking ahead, Select Water Solutions anticipates that ongoing geopolitical tensions, fluctuations in energy prices, and evolving regulatory landscapes will impact its operations. The company remains committed to leveraging its infrastructure investments and technological advancements to adapt to these challenges and capitalize on emerging opportunities in the water management sector.
About Select Water Solutions, Inc.
Select Water Solutions Inc. provides sustainable water management and chemical solutions to the U.S. energy industry. Its core segments include water infrastructure, recycling, disposal, and chemical technologies, supporting oil and gas operations through water sourcing, transfer, treatment, and waste management. The company emphasizes environmental responsibility, safety, and innovation, serving major E&P customers across key shale plays with long-term contracts and advanced logistics.
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