Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) Q2 2024 Earnings Conference Call August 9, 2024 9:00 AM ET

Company Participants

Yvonne Fletcher - SVP, Finance & IR
Bill Zartler - Chairman & CEO
Kyle Ramachandran - President & CFO

Conference Call Participants

Luke Lemoine - Piper Sandler
Stephen Gengaro - Stifel
John Daniel - Daniel Energy Partners
Don Crist - Johnson Rice

Operator

Good day, and welcome to the Solaris Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note today's event is being recorded.

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

Yvonne Fletcher

Thank you, Operator. Good morning, and welcome to the Solaris second quarter 2024 earnings conference call. Joining us today are 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 our previously announced acquisition of Mobile Energy Rentals LLC, 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 Security 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 in the news section on our website.

In addition, because this transaction is subject to shareholder approval at a special meeting, this communication and other materials are subject to certain proxy solicitation rules and guidelines.

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

Bill Zartler

Thank you, Yvonne, and thank you, everyone, for joining us this morning.

During the second quarter, Solaris produced strong free cash flow, returned incremental cash to shareholders, and continued to deliver value to our customers.

To recap our second quarter results, we generated $74 million in revenue, $21 million in adjusted EBITDA, and $18 million of free cash flow. We returned $5 million to shareholders in dividends and recently announced a third quarter dividend of $0.12 per share, which will result in approximately $183 million returned to shareholders through dividends and share repurchases since 2018.