Solaris Oilfield Infrastructure Inc. (SOI) Financial Statements (2024 and earlier)

Company Profile

Business Address 9651 KATY FREEWAY
HOUSTON, TX 77024
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3533 - Oil and Gas Field Machinery and Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,8338,83536,49760,36666,88225,057
Cash and cash equivalents5,8338,83536,49760,36666,88225,057
Receivables 13,52364,54339,51318,24338,78739,978
Inventory, net of allowances, customer advances and progress billings6,6725,2891,6549547,14410,470
Inventory6,6725,2891,6549547,14410,470
Prepaid expense 1,166964720554865576
Asset, held-for-sale, not part of disposal group 3,000     
Deposits current assets 12312275771,245882
Other current assets 2,0952,1402,0541,2951,8371,232
Other undisclosed current assets34,7296,8505552438222,570
Total current assets:67,14188,74381,06881,732117,58280,765
Noncurrent Assets
Inventory, Noncurrent1,5931,5692,6763,318  
Operating lease, right-of-use asset10,7214,0334,1824,7087,871
Property, plant and equipment     306,583296,538
Intangible assets, net (including goodwill)13,70614,43315,20715,98620,99721,776
Goodwill13,00413,00413,00413,00417,23617,236
Intangible assets, net (excluding goodwill)7021,4292,2032,9823,7614,540
Deferred income tax assets48,01055,37062,94259,80551,414
Other noncurrent assets342268574636251,454
Accounts receivable, excluding accrued interest, after allowance for credit loss1,663  
Other undisclosed noncurrent assets325,121298,160240,091245,884 24,624
Total noncurrent assets:401,156373,833325,155330,164387,490344,392
TOTAL ASSETS:468,297462,576406,223411,896505,072425,157
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities32,94651,18626,84518,84918,27121,785
Accounts payable12,65425,9349,9276,8633,8249,127
Accrued liabilities20,29225,25216,91811,98614,44712,658
Debt2,4621,924313062635
Other liabilities 4087904967574515
Due to related parties72805574 
Contract with customer, liability12,990
Other undisclosed current liabilities1,3851,9371,8471,1981,342 
Total current liabilities:37,20155,90929,29920,20720,38735,325
Noncurrent Liabilities
Long-term debt and lease obligation32,40111,4296,7727,5197,98513,154
Long-term debt, excluding current maturities30,0008,000   13,000
Capital lease obligations154
Finance lease, liability2,4013,42970100130
Liabilities, other than long-term debt, including:11,58578,10972,27668,69167,042633
Contract with customer, liability12,468
Due to related parties71,53071,89268,09766,58256,149
Other liabilities44367384594460 
Operating lease, liability11,5416,2126,7027,4197,855
Other undisclosed liabilities, other than long-term debt      (67,984)
Other undisclosed noncurrent liabilities 71,530    68,617
Total noncurrent liabilities:115,51689,53879,04876,21075,02782,404
Total liabilities:152,717145,447108,34796,41795,414117,729
Equity
Equity, attributable to parent, including:205,983215,715203,149201,254263,847168,521
Treasury stock, value     (2,526)(1,414)
Additional paid in capital188,379202,551196,912180,415191,843126,347
Retained earnings17,31412,8475,92520,54974,22243,317
Other undisclosed equity, attributable to parent290317312290308271
Equity, attributable to noncontrolling interest109,597101,41494,727114,225145,811138,907
Total equity:315,580317,129297,876315,479409,658307,428
TOTAL LIABILITIES AND EQUITY:468,297462,576406,223411,896505,072425,157

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues292,947320,005159,189102,976241,687197,196
Cost of revenue(214,671)(255,127)(140,312)(71,546)(88,246)(70,967)
Cost of goods and services sold(177,847)(219,775)(115,459)(2,565)  
Gross profit:78,27664,87818,87731,430153,441126,229
Operating expenses(28,374)(23,074)(19,264)(91,330)(45,511)(26,942)
Other operating income (expense), net(639)(1,847)2,357(5,782)(585) 
Other undisclosed operating income (loss)6391,847(2,357)5,782585 
Operating income (loss):49,90241,804(387)(59,900)107,93099,287
Interest and debt expense(327)(115)(4)(176)(634)(374)
Income (loss) from continuing operations before equity method investments, income taxes:49,57541,689(391)(60,076)107,29698,913
Other undisclosed income (loss) from continuing operations before income taxes(2,980)(374)(243)14  
Income (loss) from continuing operations before income taxes:46,59541,315(634)(60,062)107,29698,913
Income tax expense (benefit)(7,820)(7,803)(626)8,969(16,936)(12,961)
Income (loss) from continuing operations:38,77533,512(1,260)(51,093)90,36085,952
Income (loss) before gain (loss) on sale of properties:(1,260)(51,093)90,36085,952
Net income (loss):38,77533,512(1,260)(51,093)90,36085,952
Net income (loss) attributable to noncontrolling interest(14,439)(12,354)39221,752(38,353)(43,521)
Net income (loss) attributable to parent:24,33621,158(868)(29,341)52,00742,431
Undistributed earnings (loss) allocated to participating securities, basic(1,169)(847)(365)(314)(1,120)(1,230)
Other undisclosed net loss available to common stockholders, basic      
Net income (loss) available to common stockholders, diluted:23,16720,311(1,233)(29,655)50,88741,201

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):38,77533,512(1,260)(51,093)90,36085,952
Comprehensive income (loss):38,77533,512(1,260)(51,093)90,36085,952
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(14,439)(12,354)39221,752(38,353)(43,521)
Comprehensive income (loss), net of tax, attributable to parent:24,33621,158(868)(29,341)52,00742,431

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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