Solaris Energy Q2 Earnings Beat Estimates on Power Solutions Growth

Net income reported by SEI was $25.2 million in the quarter. On a non-GAAP basis, adjusted EBITDA was $108.3 million, up from $60.6 million in the year-ago period, driven primarily by higher Power Solutions activity levels and a lift in Logistics profitability.

On Aug. 4, 2026, the company’s board of directors approved a third-quarter 2026 dividend of 12 cents per share, payable on Sept. 25 to its shareholders of record as of Sept. 15.

SEI’s Q2 Segment Results

Solaris Power Solutions:Power Solutions revenues increased to $158.3 million compared with $75.6 million in the year-ago period. Capacity earning revenues in the segment averaged 950 MW during the quarter. Adjusted EBITDA from the segment increased to $96.4 million, driven by increased ancillary service revenues.

Solaris Logistics Solutions: Logistics Solutions delivered revenues of $61 million, decreasing 17.2% from the year-ago period. Adjusted EBITDA from the segment increased year over year to $24.7 million, driven by increased system activity and a more favorable project mix.

SEI Expands Long-Term Power Contracts

Solaris Energy expanded three long-term contracts that are expected to add more than $100 million of annual adjusted EBITDA. The expanded Hatchbo agreement now covers a turnkey, roughly 660-MW power plant, including balance-of-plant equipment, batteries and operating services. The contract term was extended to as long as 18 years, and revenues are expected to begin in January 2027.

SEI also broadened the scope of its April 2026 agreement with a global technology customer to include balance of plant, energy storage and natural gas procurement and management. Separately, a large energy customer increased contracted microgrid capacity to about 80 MW from 60 MW and extended the agreement to six years from four years.

Solaris Energy Builds Out Full-Cycle Power Capabilities

The acquisition of Global Energy Services Alliance, or GESA, expands SEI’s installation, commissioning, operations, maintenance and aftermarket capabilities. GESA added more than 600 skilled employees and brings project experience spanning more than 30 countries.

Management sees the acquisition as a way to improve project execution while expanding third-party service opportunities. Solaris Energy also has approximately 800 MW of open capacity with relatively near-term delivery timelines and said it is in advanced discussions with multiple customers regarding long-term deployments.

SEI Raises Adjusted EBITDA Guidance

For the third quarter of 2026, the Zacks Rank #5 (Strong Sell) company raised adjusted EBITDA guidance to $90-$105 million from $80-$95 million previously, and established fourth-quarter adjusted EBITDA guidance of $100-$120 million.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

SEI’s Balance Sheet

At quarter-end, Cash and cash equivalents attributable to Solaris Energy were $888.5 million, while long-term debt attributable to SEI (net of current portion) was $1.6 billion, with a debt-to-capitalization of 58%.

During the quarter, the company completed an inaugural $1.3 billion senior, unsecured notes offering and secured a new, undrawn $650 million credit facility.

Some Key Oilfield Service Earnings

While we have discussed SEI’s second-quarter results in detail, let’s see how some other oilfield service companies have fared this earnings season.

NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment.

The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment.

As of June 30, 2026, the backlog for Energy Equipment capital orders was $4.1 billion, reflecting a $220 million decrease from the prior year.

Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses.

LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales.

As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Further, the company’s total liquidity, including availability under the credit facility, amounted to $1 billion.

Oceaneering International, Inc. OII reported second-quarter 2026 earnings of 65 cents per share, up from 54 cents in the year-ago quarter. Higher year-over-year operating income from the company's Subsea Robotics, Manufactured Products, Offshore Projects Group and Aerospace and Defense Technologies segments contributed to this improvement.

Total revenues of $768.2 million increased approximately 10% from the year-ago quarter’s $698.2 million. This increase reflected revenue growth across all segments except Integrity Management & Digital Solutions.

As of June 30, 2026, OII had cash and cash equivalents worth $629.5 million and $688.9 million, respectively, along with a long-term debt of about $490.2 million. The debt-to-capitalization was 29.6%.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research