Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) Q2 2022 Earnings Conference Call August 2, 2022 9:00 AM ET

Company Participants

Yvonne Fletcher - SVP, Finance & IR

William Zartler - Founder, Chairman & CEO

Kyle Ramachandran - CFO & President

Conference Call Participants

Donald Crist - Johnson Rice & Company

John Daniel - Simmons

Operator

Good morning, and welcome to the Solaris Second Quarter 2022 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to Yvonne Fletcher, Senior Vice President, Finance and Investor Relations. Please go ahead.

Yvonne Fletcher

Good morning, and welcome to the Solaris Second Quarter 2022 Earnings Conference Call. I'm joined today by our Chairman and CEO, Bill Zartler; and our President and CFO, Kyle Ramachandran.

Before we begin, I'd like to remind you of our standard cautionary remarks regarding the forward-looking nature of some of the statements that we will make today. Such forward-looking statements may include comments regarding future financial results and reflect a number of known and unknown risks. Please refer to our press release issued yesterday, along with other recent public filings with the Securities and Exchange Commission that outline those risks.

I would also like to point out that our earnings release and today's conference call will contain discussion of non-GAAP financial measures, which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are available in our earnings release, which is posted on our website at solarisoilfield.com under the News section.

I'll now turn the call over to our Chairman and CEO, Bill Zartler.

William Zartler

Thank you, Yvonne, and thank you, everyone, for joining us this morning. Our second quarter financial results demonstrate the early innings for a more robust opportunity set for Solaris than we've seen in the past. Over the last few market ups and downs, our total addressable market was generally limited to having a set of 6 sand silos paired with a frac crew and a relatively small last mile service offering.

During the last few years, including through the downturn, Solaris expanded its engineering software and manufacturing teams, and has been hard at work designing and building new technologies that complement and build upon our core offering.

Today, our total addressable market has grown significantly as we roll out additional offerings. Although we are still tied to the number of frac crews sites in operation, our opportunity on those sites has grown significantly. Today's offering includes top fill solutions, the AutoBlend unit, water and chemical silos and a more sophisticated last mile offering that expands our potential earnings footprint per well site.