Solaris Energy Infrastructure, Inc. reported significant financial growth in its latest quarterly filing, with total revenue reaching $126.3 million for the three months ended March 31, 2025, compared to $67.9 million in the same period last year. This represents an increase of 86% year-over-year, driven primarily by the introduction of the Solaris Power Solutions segment, which generated $49.4 million in revenue. The Solaris Logistics Solutions segment also contributed, with revenues rising 13% to $77.0 million, attributed to increased last mile and ancillary services.
The company's operating income for the first quarter of 2025 was $22.1 million, up from $10.0 million in the prior year, reflecting a substantial increase in profitability. Net income attributable to Solaris Energy Infrastructure, Inc. was $5.3 million, compared to $4.3 million in the same quarter of 2024. Earnings per share remained stable at $0.14 for both periods, despite an increase in the weighted average shares outstanding from 28.6 million to 36.2 million due to stock-based compensation and other equity transactions.
In terms of operational developments, Solaris Energy Infrastructure has expanded its customer base and service offerings. The company reported an increase in its fully utilized systems count to 98, a 25% rise from the previous quarter, indicating strong demand for its logistics services. Additionally, the company has secured orders that will increase its operated power generation capacity to approximately 1,700 megawatts by mid-2027, with about 70% of this capacity already committed under commercial agreements.
Strategically, Solaris has made significant moves, including the formation of a joint venture, Stateline Power, LLC, aimed at providing off-grid power infrastructure for a new data center campus. This venture is expected to enhance the company's market position in the power solutions sector. Furthermore, Solaris completed a public offering of $155 million in convertible senior notes, with proceeds earmarked for capital expenditures to support growth initiatives, particularly in the Solaris Power Solutions segment.
Looking ahead, Solaris Energy Infrastructure anticipates continued growth driven by increasing demand for distributed power generation solutions, particularly in the context of constrained electrical grid infrastructure. The company expects to invest approximately $490 million in capital expenditures throughout 2025, primarily to support its Solaris Power Solutions segment. The outlook remains positive, contingent on market conditions, regulatory changes, and the overall economic environment, as the company aims to leverage its strategic initiatives to enhance operational efficiency and profitability.
About Solaris Energy Infrastructure, Inc.
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