Solaris Energy Infrastructure Inc

NYSE:SEIUnited States

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• -- Earnings Flash (SEI) SOLARIS ENERGY INFRASTRUCTURE Posts Q3 EPS $0.08, from 9 hours ago by MT Newswires

  9 hours ago by MT Newswires
  Companies Mentioned: SEI
  04:04 PM EST, 11/04/2024 (MT Newswires) -- ...

• -- Earnings Flash (SEI) SOLARIS ENERGY INFRASTRUCTURE Posts Q3 Revenue $75M, from 9 hours ago by MT Newswires

  9 hours ago by MT Newswires
  Companies Mentioned: SEI
  04:03 PM EST, 11/04/2024 (MT Newswires) -- ...

• Solaris Energy Infrastructure Announces Third Quarter 2024 Results, New Power Solutions Contracts, and Continued Shareholder Returns for Fourth Quarter 2024, from 9 hours ago by Dow Jones

  9 hours ago by Dow Jones
  Companies Mentioned: SEI
  ======= ======= ====== ======= ======= ADJUSTED PRO FORMA NET INCOME AND ADJUSTED PRO FORMA EARNINGS PER FULLY DILUTED SHARE Adjusted pro forma net income represents net income attributable to Solaris assuming the full exchange of all outstanding membership interests in Solaris LLC not held by Solaris Energy Infrastructure, Inc. for shares of Class A common stock, adjusted for certain non-recurring items that the Company doesn't believe directly reflect its core operations and may not be indicative of ongoing business operations. Adjusted pro forma earnings per fully diluted share is calculated by dividing adjusted pro forma net income by the weighted-average shares of Class A common stock outstanding, assuming the full exchange of all outstanding units of Solaris LLC ("Solaris LLC Units"), after giving effect to the dilutive effect of outstanding equity-based awards. When used in conjunction with GAAP financial measures, adjusted pro forma net income and adjusted pro forma earnings per fully diluted share are supplemental measures of operating performance that the Company believes are useful measures to evaluate performance period over period and relative to its competitors. By assuming the full exchange of all outstanding Solaris LLC Units, the Company believes these measures facilitate comparisons with other companies that have different organizational and tax structures, as well as comparisons period over period because it eliminates the effect of any changes in net income attributable to Solaris as a result of increases in its ownership of Solaris LLC, which are unrelated to the Company's operating performance, and excludes items that are non-recurring or may not be indicative of ongoing operating performance. Adjusted pro forma net income and adjusted pro forma earnings per fully diluted share are not necessarily comparable to similarly titled measures used by other companies due to different methods of calculation. Presentation of adjusted pro forma net income and adjusted pro forma earnings per fully diluted share should not be considered alternatives to net income and earnings per share, as determined under GAAP. While these measures are useful in evaluating the Company's performance, it does not account for the earnings attributable to the non-controlling interest holders and therefore does not provide a complete understanding of the net income attributable to Solaris. Adjusted pro forma net income and adjusted pro forma earnings per fully diluted share should be evaluated in conjunction with GAAP financial results. A reconciliation of adjusted pro forma net income to net income attributable to Solaris, the most directly comparable GAAP measure, and the computation of adjusted pro forma earnings per fully diluted share are set forth below. Three Months Ended Nine Months Ended ---------------------------- -------------------- September 30, June 30, September 30, 2024 2023 2024 2024 2023 ------- ------- ------- ------- ------- Numerator: Net income attributable to Solaris $ (968) $ 4,934 $ 6,208 $ 9,557 $20,035 Adjustments: Reallocation of net income attributable to non-controlling interests from the assumed exchange of LLC Interests (1) (1,242) 2,704 3,616 5,357 11,781 Loss on extinguishment of debt (2) 4,085 -- -- 4,085 -- Property tax contingency (3) -- -- (2,483) (2,483) -- Accrued property tax (4) -- -- (1,794) (1,794) -- Impairment on fixed assets (5) -- 1,423 -- -- 1,423 Acquisition-related costs (6) 3,065 -- 877 3,942 -- Other (7) 235 909 119 934 799 Incremental income tax expense (1,102) (1,453) (578) (2,217) (2,688) ------ ------ ------ ------ ------ Adjusted pro forma net income $ 4,073 $ 8,517 $ 5,965 $17,381 $31,350 ------ ------ ------ ------ ------ Denominator: Weighted average shares of Class A common stock outstanding 28,377 29,025 28,335 28,433 29,919 Adjustments: Dilutive and potentially dilutive shares (8) 19,903 15,448 15,990 17,418 15,273 ------ ------ ------ ------ ------ Adjusted pro forma fully weighted average shares of Class A common stock outstanding - diluted 48,280 44,473 44,325 45,851 45,192 ------ ------ ------ ------ ------ Adjusted pro forma earnings per share - diluted $ 0.08 $ 0.19 $ 0.13 $ 0.38 $ 0.69 ====== ====== ====== ====== ====== 1) Assumes the exchange of all outstanding Solaris LLC Units for shares of Class A common stock at the beginning of the relevant reporting period, resulting in the elimination of the non-controlling interest and recognition of the net income attributable to non-controlling interests. 2) Primarily consists of the write-off of the unamortized portion of debt financing costs associated with securing a bridge financing facility, which had not been utilized and was subsequently extinguished upon obtaining alternative financing for the MER Acquisition. 3) Represents reversal of a portion of previously recognized property tax contingency following a settlement agreement with Brown County Appraisal District. 4) Represents reversal of previously recognized accrued property tax expenses following a settlement agreement with Brown County Appraisal District, included in cost of services in the condensed consolidated statements of operations. 5) Impairment recorded on certain fixed assets classified as assets held for sale during the three months ended September 30, 2023. 6) Represents costs incurred to affect the MER Acquisition. 7) Other includes the net effect of credit losses, loss/gain on disposal of assets, transaction costs incurred for activities related to acquisition opportunities, inventory write-offs and other settlements. 8) Represents the weighted-average potentially dilutive effect of Class B common stock, unvested restricted stock awards, unvested performance-based restricted stock units and stock options.
  

• Press Release: Solaris Energy Infrastructure Announces Third Quarter 2024 Results, New Power Solutions Contracts, and Continued Shareholder Returns for Fourth Quarter 2024, from 9 hours ago by Dow Jones

  9 hours ago by Dow Jones
  Companies Mentioned: SEI