Select Water Solutions Posts $1.4B 2025 Revenue, EBITDA $260M and 19% Chemical Growth
Select Water Solutions generated 2025 consolidated revenue of $1.4 billion and adjusted EBITDA of $260 million, with net income of $21 million. Water Infrastructure revenue rose 8% to $313 million and Chemical Technologies revenue climbed 19% to $308 million while securing 15 million barrels MVC and 180,000 acres lease commitments.
1. Fiscal 2025 Financial Highlights
The company reported 2025 consolidated revenue of $1.4 billion and Q4 revenue of $347 million, delivering net income of $21 million and adjusted EBITDA of $260 million. This performance reflects improved consolidated margins and significant margin expansion across segments.
2. Segment Revenue Growth and Achievements
Water Infrastructure revenue reached $313 million in 2025, an 8% increase year-over-year, driven by strategic network expansions. Chemical Technologies posted $308 million in full-year revenue, up 19% as new high-performance offerings captured market share.
3. New Infrastructure Contracts and Expansion
The company secured multiple long-term water infrastructure contracts backed by 15 million barrels of minimum volume commitments and roughly 180,000 acres of new leasehold and ROFR dedication. Expansion initiatives include first large-scale municipal and industrial project wins and lithium extraction partnerships across key basins.
4. 2026 Outlook and Capital Allocation
Management expects Water Infrastructure revenue to grow 20%–25% in 2026, with consolidated adjusted EBITDA of $65–68 million in Q1. Full-year capital expenditures are guided at $175–225 million, including $50–60 million maintenance capex and growth-focused spending on Northern Delaware Basin build-out.