Mobile power and logistics company Solaris Energy Infrastructure (NYSE:SEI) will be announcing earnings results this Wednesday after market hours. Here’s what investors should know.
Solaris Energy Infrastructure beat analysts’ revenue expectations last quarter, reporting revenues of $219.4 million, up 46.9% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Solaris Energy Infrastructure a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Solaris Energy Infrastructure’s revenue to grow 57.1% year on year, slowing from the 122% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Solaris Energy Infrastructure has a history of exceeding Wall Street’s expectations.
Looking at Solaris Energy Infrastructure’s peers in the mixed or offshore upstream e&p segment, some have already reported their Q3 results, giving us a hint as to what we can expect. California Resources’s revenues decreased 52.2% year on year, missing analysts’ expectations by 56.5%, and Weatherford reported a revenue decline of 7.2%, topping estimates by 0.8%. Weatherford traded up 7.8% following the results.
Read our full analysis of California Resources’s results here and Weatherford’s results here.
Investors in the mixed or offshore upstream e&p segment have had steady hands going into earnings, with share prices flat over the last month. Solaris Energy Infrastructure is down 11.8% during the same time and is heading into earnings with an average analyst price target of $102.99 (compared to the current share price of $65.90).
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