SEI
Solaris Energy Infrastructure, Inc.43.61
+0.05+0.12%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Active negotiations for open capacity
Q&A spotlighted active negotiations for the remaining ~400MW open capacity, with Amanda signaling 'good news here in the near future'—a step beyond prepared remarks' advanced talks. Management detailed 2027-2028 capacity adds via acquisition-sourced options and quantified balance-of-plant upsells at 20-50% EBITDA uplift per MW. Funding flexibility shines through secured lines, bank debt, and project finance, with costs falling. Supplier diversification beyond the key OEM is underway. Demand swamps supply. Deals take longer than hoped but accelerate. Watch signed contracts and Colossus 2 ramps.
Key Stats
Market Cap
3.13BP/E (TTM)
46.39Basic EPS (TTM)
0.94Dividend Yield
0.01%Recent Filings
8-K
Closes Genco acquisition, adds debt
Solaris closed its $381M acquisition of Focus Genco Cayman Ltd. on March 16, 2026, issuing 4.18M shares and ~$81M cash for all shares while securing $300M term debt from Goldman Sachs (due 2027, SOFR+3%) and $148.6M from Stonebriar (due 2032) to finance it, terminating its prior ABL facility. It also assumed a turbine deal for 30 slots yielding ~500MW capacity through 2029. Debt covenants demand 3x interest coverage and leverage caps from Q2 2026.
10-K
FY2025 results
Solaris Energy Infrastructure crushed FY2025 with revenue doubling to $622M, powered by explosive Power Solutions growth to $334M from near-zero, while Logistics ticked up 5% to $289M on higher last-mile volumes. Q4 momentum roared as Power hit 58% of revenue and 70% of Adjusted EBITDA, with deployed capacity surging to 630MW annually versus 230MW prior year—margins held firm at 41% despite ramp. Logistics systems utilization climbed 11% q/q to 93 fully utilized units, yet saw mix-driven revenue dip. Strong $353M cash position funds $852M equipment commitments through 2028; Stateline drew $186M term debt. Power dominates outlook with 2,200MW capacity targeted by 2028 under multi-year contracts. Customer concentration risks quarterly flows.
8-K
Q4 revenue $180M, power deal
Solaris Energy Infrastructure reported Q4 2025 revenue of $180 million, up 8% sequentially, with Adjusted EBITDA of $69 million despite a $4 million net loss from debt extinguishment. Power Solutions inked a 10-year deal for over 500 MW to a hyperscaler starting Q1 2027; Logistics rebounded sharply. Raised Q1 2026 Adjusted EBITDA guidance to $72-77 million. Dividends roll on.
8-K
CFO appointment effective now
Solaris Energy Infrastructure appointed Stephan E. Tompsett as CFO effective February 12, 2026, replacing Kyle Ramachandran, who shifts to focus on growing the power business while staying President and head of Solaris Power Solutions. Tompsett brings restructuring experience from Aris Water Solutions and Limetree Bay Energy. Compensation terms pending. New CFO in place.
8-K
500MW AI power rental deal
Solaris Energy Infrastructure's subsidiary inked a Master Equipment Rental Agreement on February 12, 2026, with Hatchbo, LLC—an affiliate of an investment-grade AI tech giant—to supply over 500 megawatts of power generation equipment for data centers. The initial 10-year rental term kicks off January 1, 2027, with a possible five-year extension and customer termination option at 50% of remaining fees. Backed by a parent guaranty capped at 50% of initial fees, it paves the way for a future PPA. Deal locks in long-term AI power revenue.
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