📈 Price History

Ratio Health

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About

Solaris Energy Infrastructure, Inc. provides modular and scalable equipment-based solutions for power generation, control and distribution, and management of raw materials used in the completion of oil and natural gas wells in the United States.

Key Ratios Snapshot

📈 Growth Pattern

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⭐ Superinvestors Holding SEI

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	328.5K	$18.6M	0.02%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly uses strong positive language like 'delivered strong results', 'significant cash flow', 'robust and distinctive business position'. They provide specific numbers: 600 MW operating, $149M revenue, $61M EBITDA, 29% sequential growth. They also address challenges (logistics slowdown) with concrete mitigation plans, reinforcing confidence.

Q3 2025

Confident Specific

management used positive language such as 'great third quarter', 'record levels of quarterly revenue and profit', 'strong execution', 'massive and growing market opportunity', and 'confident that additional capacity will convert into long-term contracts'.

Q4 2025

Confident Vague

Management repeatedly emphasises strong execution, a 'meaningful step forward', and 'significant tailwinds', but avoids specific timelines or capacity targets, instead using phrases like 'very active dialogue', 'more demand than we have capacity', and 'line of sight for capacity'.

Q1 2026 latest

Confident Specific

Management used language like 'exceptional start', 'consistently executing', 'proven capabilities', and 'incredible commercial success' while providing concrete numbers on megawatts contracted, acquisitions closed, and guidance raised. The tone was positive and backed with specific achievements.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is significantly stronger after this call. Management delivered concrete proof of commercial momentum with two major long-term contracts and strategic capacity acquisitions, expanding the contracted base to over 2 GW. The move into balance-of-plant and broader scope services increases revenue per site and deepens customer relationships, supporting higher and more durable returns. The path to over $1 billion in annualized Adjusted EBITDA based on 3.1 GW of capacity is now laid out with more visibility. However, the exact timing of ramp and the EBITDA contribution from expanded services remain uncertain. Next quarter, watch for additional contract signings, deployment progress on the 600 MW and 500 MW contracts, and any update on funding for the $1 billion+ capex plan.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Solaris secures over 2 GW of long-term contracts, capacity reaches 3.1 GW.

Revenue & Profitability

First quarter 2026 revenue was $196 million, and Adjusted EBITDA was $84 million. Adjusted EBITDA increased 22% sequentially and 79% year-over-year. Power Solutions segment EBITDA rose more than 30% sequentially to $72 million. Logistics Solutions segment EBITDA was approximately $23 million, up 2% sequentially. Guidance for Q2 2026 is $83-$93 million Adjusted EBITDA, and Q3 2026 guidance is $80-$95 million.

Outlook

Management sees strong tailwinds from grid interconnection delays, rising demand for behind-the-meter power to support data center buildouts, and focus on electricity affordability for residential customers. The broader power market reinforces the need for their solution. Customers increasingly value speed and turnkey capabilities, leading to more streamlined contractual arrangements over time.

Growth Drivers

Key growth drivers include expanding existing customer contracts with balance-of-plant services and generation capacity, securing new customers (both current and new), and diversifying equipment supplier base. The company recently signed two long-term contracts totaling over 1 GW and closed acquisitions adding ~900 MW of turbine capacity. Logistics Solutions also continues to see strong demand with equipment fully deployed.

Balance Sheet & CapEx

Solaris has identified over $1 billion of additional capital to deploy in 2026 and 2027 for generation and balance-of-plant assets. Equipment purchases include 30 turbine delivery slots acquired for ~500 MW. A $300 million credit facility was closed in March and subsequently upsized to allow up to $200 million in additional borrowings. The company is evaluating funding alternatives to execute its growth plan.

Margins

Not explicitly discussed in this earnings call. However, management noted that incremental capital deployed for additional assets per site would be underwritten at returns consistent with existing framework. The pro forma scenario for all 3.1 GW delivered could lead to annual Adjusted EBITDA exceeding $1 billion, implying margin expansion with scale.

Key Risks

Key risks include extended negotiation timelines for complex initial contracts (though later contracts are expected to be more streamlined), grid interconnection delays, supply chain constraints (especially for turbines and SCRs), and labor challenges in building up training and repair forces. The company also faces potential backlash from communities regarding data center locations, which can affect power availability.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Record Q2 results driven by contract expansions, acquisitions, and strong demand for distributed power. Revenue and adjusted EBITDA rose sharply, with robust liquidity and upgraded guidance. Strategic moves, including the GESA acquisition and SMR investment, position the company for continued growth.

Q1 2026 Q1 2026 2026-04-28

Q1 2026 saw robust revenue and EBITDA growth, driven by new long-term power contracts, strategic acquisitions, and expanding turnkey solutions for technology customers. Guidance was raised for Q2 and Q3, with strong visibility into multi-year earnings and cash flow.

Q4 2025 Q4 2025 2026-02-25

Revenue and Adjusted EBITDA more than doubled year-over-year, driven by strong growth in power solutions and logistics. Major long-term contracts and acquisitions enhanced capabilities, while robust demand and regulatory tailwinds support continued expansion into 2026 and beyond.

Q3 2025 Q3 2025 2025-11-04

Record Q3 revenue and profit were driven by surging data center power demand and strong execution in power solutions. Guidance for Q4 and Q1 2026 was raised, with pro forma earnings expected to exceed $600 million as capacity expands to 2.2 GW.

Q2 2025 Q2 2025 2025-07-24

Q2 saw strong revenue and EBITDA growth, led by Power Solutions, which now accounts for most segment profit. Guidance calls for flat EBITDA in the next two quarters as Power Solutions growth offsets a softer Logistics outlook. Capital is secured for ongoing expansion and JV projects.

📊 Analysis Methodology

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