Jun 2026 (Q2 FY26) — Aug 6, 2026
Solaris Energy Infrastructure, Inc. Q2 FY26 — Record Quarter Driven by Data Center Demand and Strategic Acquisitions
Read the full callSolaris Energy Infrastructure (SEI) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Solaris Energy Infrastructure earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 219 | +46.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 25.8 | +1.9 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 20.5 | +71.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
15 of 16 judged targets kept · 30 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Consolidated adjusted EBITDA (quarterly guide) | $76 million to $84 million | Dec 2025 | In the second quarter, we generated revenue of approximately $219 million, up 12% sequentially from the first quarter and adjusted EBITDA of approximately $108 million, up 30% sequentially. | Achieved |
| Consolidated adjusted EBITDA (quarterly guide) | $80 million to $95 million | Mar 2026 | We have increased our third quarter adjusted EBITDA guidance to $90 million to $105 million, reflecting the contribution of the GESA acquisition as well as our expectations for continued execution. | Revised Up |
| Consolidated adjusted EBITDA (quarterly guide) | $100 million to $120 million | Jun 2026 | We are also establishing initial fourth quarter adjusted EBITDA guidance of $100 million to $120 million, reflecting the ramp of energization at our Stateline joint venture as well as the first location for our third hyperscaler customer. | New |
1 of Solaris Energy Infrastructure, Inc.'s 46 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 43 more targets are in the full ledger.
Claimed
- Generated record adjusted EBITDA of approximately $108 million, up 30% sequentially.
- Power Solutions segment revenue increased 23% sequentially to approximately $158 million.
- Secured $1.4 billion in liquidity, including $800 million in cash and a fully undrawn $650 million revolving credit facility.
- Expanded scope of two existing data center contracts and one large energy customer contract, including a 660-megawatt plant conversion and a 640-megawatt generation expansion.
- Successfully issued $1.3 billion of senior unsecured notes and secured new credit facility, achieving corporate credit ratings of BB- (S&P), Ba3 (Moody's), and BB (Fitch).
Qualified
- Logistics segment revenue decreased 10% sequentially to $61 million due to lower last-mile transportation activity.
- Grid interconnection delays continue to be widespread, with one customer facing a 7-8 year delay, necessitating contract extensions and capacity increases for Solaris's solutions.
Price
$62.74 −3.71% · −$2.42
Performance +14.3% 1Y
1Y: $54.9 on 15 Oct 2025 → $62.74. High $82.88 (18 Jun 2026), low $40.64 (17 Dec 2025).
- Previous close
- $65.16
- 52-week range
- $40.64 – $82.88
- One year
- +15.84%
Overview
- Symbol
- SEI
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
15 of 16 judged targets kept · 30 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Consolidated adjusted EBITDA (quarterly guide) | $76 million to $84 million | Dec 2025 | In the second quarter, we generated revenue of approximately $219 million, up 12% sequentially from the first quarter and adjusted EBITDA of approximately $108 million, up 30% sequentially. | Achieved |
| Consolidated adjusted EBITDA (quarterly guide) | $80 million to $95 million | Mar 2026 | We have increased our third quarter adjusted EBITDA guidance to $90 million to $105 million, reflecting the contribution of the GESA acquisition as well as our expectations for continued execution. | Revised Up |
| Consolidated adjusted EBITDA (quarterly guide) | $100 million to $120 million | Jun 2026 | We are also establishing initial fourth quarter adjusted EBITDA guidance of $100 million to $120 million, reflecting the ramp of energization at our Stateline joint venture as well as the first location for our third hyperscaler customer. | New |
Claimed
- Generated record adjusted EBITDA of approximately $108 million, up 30% sequentially.
- Power Solutions segment revenue increased 23% sequentially to approximately $158 million.
- Secured $1.4 billion in liquidity, including $800 million in cash and a fully undrawn $650 million revolving credit facility.
- Expanded scope of two existing data center contracts and one large energy customer contract, including a 660-megawatt plant conversion and a 640-megawatt generation expansion.
- Successfully issued $1.3 billion of senior unsecured notes and secured new credit facility, achieving corporate credit ratings of BB- (S&P), Ba3 (Moody's), and BB (Fitch).
Qualified
- Logistics segment revenue decreased 10% sequentially to $61 million due to lower last-mile transportation activity.
- Grid interconnection delays continue to be widespread, with one customer facing a 7-8 year delay, necessitating contract extensions and capacity increases for Solaris's solutions.
The full ledger
Open Solaris Energy Infrastructure, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 46 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
Solaris Q1 FY26 — Accelerating Growth with New Power Contracts and Expanded Scope
Read the full callDec 2025 (Q4 FY25) — Feb 25, 2026
Solaris Q4 FY25 — Power Solutions Drives Record Growth and Secures Major New Data Center Contract
Read the full callEvery analysed call
Solaris Energy Infrastructure earnings calls (SEI)
Financials
What the filings say
Net profit, year on year: +71% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 75 | 96 | 126 | 149 | 167 | 180 | 196 | 219 |
| Expenses | 70 | 71 | 104 | 114 | 129 | 140 | 146 | 163 |
| Operating profit | 5 | 26 | 22 | 36 | 38 | 40 | 51 | 57 |
| Operating margin | 7.0% | 26.7% | 17.5% | 23.8% | 22.7% | 22.2% | 25.8% | 25.8% |
| Interest | — | — | 6 | 7 | — | — | 5 | 17 |
| Profit before tax | -2 | 18 | 17 | 30 | 29 | -3 | 47 | 30 |
| Tax rate | −26.3% | 23.7% | 23.2% | 19.8% | 14.1% | −26.9% | 32.2% | 16.5% |
| Net profit | -1 | 6 | 5 | 12 | 15 | -2 | 21 | 20 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 36 | 74 | 21 | 6 | 13 | 17 | 18 | 26 |
| Total liabilities | 118 | 95 | 96 | 108 | 145 | 153 | 464 | 1,316 |
| Fixed assets | 297 | 307 | 246 | 240 | 298 | 325 | — | — |
| Total assets | 459 | 505 | 412 | 406 | 463 | 468 | 1,130 | 2,143 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 116 | 115 | 44 | 16 | 68 | 89 | 59 | 209 |
| Cash from investing | -161 | -34 | -4 | -20 | -80 | -62 | -305 | -686 |
| Cash from financing | 6 | -39 | -47 | -21 | -16 | -30 | 400 | 671 |
| Net cash flow | -38 | 42 | -7 | -24 | -28 | -3 | 154 | 193 |
| Capital expenditure | -161 | -35 | -5 | -20 | -81 | -64 | -188 | -647 |
| Free cash flow | -45 | 80 | 39 | -3 | -13 | 25 | -129 | -438 |
SEI revenue by segment
Solaris Power Solutions grew from 6% to 72% of revenue over the last seven quarters.
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|
| Solaris Power Solutions | 6% | 39% | 51% | 63% | 58% | 65% | 72% | +109.4% |
| Solaris Logistics Solutions | 94% | 61% | 49% | 37% | 42% | 35% | 28% | -17.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
SEI operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Change vs prior quarter |
|---|---|---|---|
| Average fully utilized systems Logistics Solutions | 93In our Logistics segment, we averaged 93 fully utilized systems, an increase of 11% from the third quarter.Source: earnings call transcript | 104In Logistics, we averaged 104 fully utilized systems and segment adjusted EBITDA was approximately $23 million, a 2% increase over the fourth quarter of 2025.Source: earnings call transcript | +11.8% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
49 filings between Nov 4, 2025 and Sep 8, 2026.
Open market
decisions to buy or sellPurchases
$1.30M
7 purchases by 2 insiders
Sales
$406.64M
12 sales by 8 insiders
Compensation
not trading decisions- 19
- Award — granted as compensation
- 5
- Tax withheld — shares kept back by the company to cover tax
Also filed: 3 conversions, 3 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| KTR Management Company, LLC | — | $247.56M | Apr 30, 2026 |
| Keenan W Howard JR | — | $149.00M | May 6, 2026 |
| Walker Ray N JR | — | $4.10M | May 8, 2026 |
| Powell Christopher M | — | $2.75M | May 11, 2026 |
| Durrett Cynthia M. | — | $2.10M | Dec 17, 2025 |
| TEAGUE AJ | $1.15M | — | Sep 8, 2026 |
| BURKE JAMES R | — | $598.0K | Dec 10, 2025 |
| Argo Laurie H | — | $480.8K | May 12, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 8, 2026 | TEAGUE AJ Director | Purchase | 3,900 | $250.4K |
| Sep 8, 2026 | TEAGUE AJ Director | Purchase | 3,900 | $250.6K |
| Aug 23, 2026 | Argo Laurie H Director | Award | 3,331 | $0 |
| Aug 23, 2026 | Keenan W Howard JR Director | Award | 2,989 | $0 |
| Aug 23, 2026 | TEAGUE AJ Director | Award | 3,075 | $0 |
| Aug 23, 2026 | Giesinger Edgar R. JR. Director | Award | 3,246 | $0 |
| Aug 23, 2026 | BURKE JAMES R Director | Award | 3,075 | $0 |
| Aug 23, 2026 | Walker Ray N JR Director | Award | 3,075 | $0 |
| Aug 23, 2026 | YZAGUIRRE MARIO MAX Director | Award | 3,160 | $0 |
| Jun 1, 2026 | Wirtz Christopher P. Chief Accounting Officer | Tax withheld | 1,303 | $90.6K |
| May 13, 2026 | Wirtz Christopher P. Chief Accounting Officer | Sale | 700 | $54.1K |
| May 12, 2026 | Argo Laurie H Director | Sale | 5,200 | $379.0K |
| May 11, 2026 | Powell Christopher M Chief Legal Officer | Sale | 9,179 | $678.3K |
| May 11, 2026 | Powell Christopher M Chief Legal Officer | Sale | 2,181 | $164.3K |
| May 11, 2026 | Powell Christopher M Chief Legal Officer | Sale | 25,492 | $1.91M |
| May 8, 2026 | TEAGUE AJ Director | Purchase | 3,425 | $250.0K |
| May 8, 2026 | Walker Ray N JR Director | Sale | 56,841 | $4.10M |
| May 8, 2026 | TEAGUE AJ Director | Purchase | 2,750 | $200.7K |
| May 6, 2026 | Keenan W Howard JR Director | Other | 2,000,000 | $0 |
| May 6, 2026 | Keenan W Howard JR Director | Conversion | 2,000,000 | $0 |
| May 6, 2026 | Keenan W Howard JR Director | Sale | 2,000,000 | $149.00M |
| Apr 30, 2026 | KTR Management Company, LLC 10% owner | Sale | 2,000,000 | $141.50M |
| Apr 30, 2026 | KTR Management Company, LLC 10% owner | Conversion | 2,000,000 | $0 |
| Apr 30, 2026 | KTR Management Company, LLC 10% owner | Other | 2,000,000 | $0 |
| Mar 1, 2026 | Powell Christopher M Chief Legal Officer | Award | 29,723 | $0 |
| Mar 1, 2026 | Powell Christopher M Chief Legal Officer | Award | 18,165 | $0 |
| Mar 1, 2026 | Ramachandran Kyle S. President | Tax withheld | 49,902 | $2.48M |
| Mar 1, 2026 | Ramachandran Kyle S. President | Award | 50,339 | $0 |
| Mar 1, 2026 | Ramachandran Kyle S. President | Award | 37,004 | $0 |
| Mar 1, 2026 | Powell Christopher M Chief Legal Officer | Tax withheld | 27,534 | $1.37M |
| Mar 1, 2026 | Zartler William A Chairman and Co-CEO | Award | 115,656 | $0 |
| Mar 1, 2026 | Brock Amanda M Co-Chief Executive Officer | Award | 135,000 | $0 |
| Mar 1, 2026 | Durrett Cynthia M. Chief Administrative Officer | Award | 28,871 | $0 |
| Mar 1, 2026 | Wirtz Christopher P. Chief Accounting Officer | Tax withheld | 2,206 | $109.5K |
| Mar 1, 2026 | Durrett Cynthia M. Chief Administrative Officer | Award | 21,444 | $0 |
| Mar 1, 2026 | Wirtz Christopher P. Chief Accounting Officer | Award | 3,296 | $0 |
| Mar 1, 2026 | Durrett Cynthia M. Chief Administrative Officer | Tax withheld | 26,940 | $1.34M |
| Mar 1, 2026 | Wirtz Christopher P. Chief Accounting Officer | Award | 1,814 | $0 |
| Mar 1, 2026 | Zartler William A Chairman and Co-CEO | Award | 150,000 | $0 |
| Feb 12, 2026 | Tompsett Stephan E Chief Financial Officer | Award | 30,000 | $0 |
| Dec 17, 2025 | TEAGUE AJ Director | Purchase | 2,310 | $99.6K |
| Dec 17, 2025 | Argo Laurie H Director | Sale | 2,300 | $101.8K |
| Dec 17, 2025 | Brock Amanda M Co-Chief Executive Officer | Purchase | 3,669 | $150.0K |
| Dec 17, 2025 | Durrett Cynthia M. CHIEF ADMINISTRATIVE OFFICER | Sale | 47,011 | $2.10M |
| Dec 17, 2025 | TEAGUE AJ Director | Purchase | 2,310 | $99.6K |
| Dec 10, 2025 | BURKE JAMES R Director | Sale | 11,277 | $598.0K |
| Nov 4, 2025 | KTR Management Company, LLC 10% owner | Other | 2,114,783 | $0 |
| Nov 4, 2025 | KTR Management Company, LLC 10% owner | Sale | 2,114,783 | $106.06M |
| Nov 4, 2025 | KTR Management Company, LLC 10% owner | Conversion | 2,114,783 | $0 |
| Oct 16, 2025 | Brock Amanda M Co-Chief Executive Officer | Award | 125,000 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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