Solaris Energy Infrastructure, Inc. (SEI) Earnings
Solaris Energy Infrastructure, Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $0.37. SEI has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +59.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $0.31 | $0.44 | +39.8% | $196M | +7.0% |
| Feb 25, 2026 | $0.24 | $0.35 | +45.8% | $180M | +12.1% |
| Jul 23, 2025 | $0.14 | $0.34 | +142.9% | $149M | +15.1% |
| Feb 20, 2025 | $0.11 | $0.12 | +9.1% | $96M | -21.5% |
| Jul 9, 2024 | $0.12 | $0.13 | +8.3% | $74M | +3.7% |
| Apr 25, 2024 | $0.13 | $0.16 | +23.1% | $68M | +5.3% |
| Dec 31, 2023 | $0.18 | $0.15 | -16.5% | $63M | -5.5% |
| Sep 30, 2023 | $0.24 | $0.17 | -28.9% | $70M | -7.6% |
| Jun 30, 2023 | $0.22 | $0.26 | +13.5% | $77M | -2.1% |
| Mar 31, 2023 | $0.22 | $0.24 | +8.8% | $83M | -5.9% |
| Dec 31, 2022 | $0.23 | $0.15 | -34.0% | $84M | -10.0% |
| Sep 30, 2022 | $0.23 | $0.23 | +0.4% | $92M | -4.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Bill Zartler mentioned Solaris added two significant long-term contracts in power with over a gigawatt of contracted power generation capacity and associated balance of plant equipment, closed two strategic transactions expanding generation capacity to 3.1 gigawatts, and there's a clear path to further growth. Kyle Ramachandran noted over two gigawatts of power generation under long-term contracts with three leading technology companies, recent contract announcements, and closed two strategic acquisitions adding ~900 megawatts of natural gas fuel turbine capacity. Amanda Brock described expanding solutions scope beyond generation, adding skills and making acquisitions, having incremental opportunities like advanced negotiations on contract scope, delivering balanced plant equipment at existing sites, being approached for consulting services, and participating in a pilot research program.
Guidance
For the second quarter, total adjusted EBITDA guidance is increased by 10% to $83 to $93 million. Initial third quarter guidance is $80 to $95 million. Over 2 gigawatts of contract capacity provides line of sight into earnings and cash flow for the next 10 to 15 years, and there's a scenario where total company adjusted EBITDA pro forma for all 3,100 megawatts delivered and operating could exceed $1 billion annually.
Segment performance
In power solutions, we operated more than 900 megawatts during the quarter, and adjusted EBITDA increased more than 30% sequentially to $72 million, driven by growth in revenue from both owned assets and third-party leased capacity. In logistics, we averaged 104 fully utilized systems, and segment-adjusted EBITDA was approximately $23 million, a 2% increase over the fourth quarter of 2025.
Analyst Q&A
Q: David Arcuro with Morgan Stanley asked about the time to contracting and balance of plant business model.
A: Discussed that contracting takes time but once standard terms are agreed it eases future growth, and balance of plant is a mixture with focus on turnkey solutions.
Q: Derek Pottaiser with Piper Sandler asked about standard contractual arrangements and power contract efficiency.
A: Talked about developing standard contracts, building trust through track record, and established credibility.
Q: Dave Anderson with Barclays asked about balance of plant in contracts and EBITDA uplift.
A: Said 20-50% EBITDA uplift is right, guidance is conservative based on signed contracts but have good line of sight for expansion.
Q: Derek Whitfield with Texas Capital asked about balance of plant evolution and pilot research program.
A: Spoke about balance of plant life cycle and how the pilot research program came together through being embedded with a customer.
Q: Bobby Brooks with Northland Capital Markets asked about customer conversations.
A: Said more customers are realizing behind-the-meter strategy is important, and there are more direct customers.
Q: Patrick Lett with Stiefel asked about third quarter power deployments and turbine delivery slots.
A: Said quarterly ramp up is steady and measured, turbine delivery slot prices are fixed, and delivery dates can be moved up.
Q: Jerry Rebich with Wells Fargo asked about power solutions revenue and EBITDA per megawatt and capacity additions pipeline.
A: Talked about mixed impact on per megawatt and robust pipeline.
Q: Jeff LeBlanc with TPH asked about enhanced scope equipment lead times.
A: Said turbines and SCRs are long lead items, but sequencing purchase orders to meet energization schedules.
Q: Scott Gruber with Citigroup asked about return profile on turnkey projects and smaller deals.
A: Said target unlevered returns north of 20%, and portfolio has mixture of short and long-term contracts.
Q: Jeff Bellman with Daniel Energy Partners asked about scaling the model.
A: Said decision on organic build, outsourcing, or partnering depends on situation, and looking at equipment strengths and weaknesses.
Q: Don Crist with Johnson Rice asked about JV capital use.
A: Said JV has debt servicing requirements, and cash available to distribute to Solaris and partner after debt servicing.