Select Water Solutions, Inc. (WTTR) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	8-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Water services	799.4	399.7	322.5	773.9	897.2	420.8
Water transfer		175.2	146.7	355.5	443.7	193.3
Oilfield Chemicals	317.6	216.4	160.8	269.0	260.3	41.6
Water infrastructure	270.4	155.3	125.7	221.7	230.1	163.4
Total revenues	1,387.4	764.6	605.1	1,291.6	1,528.9	692.5	302.4	535.6
Revenue growth [+]	81.5%	26.4%	-53.2%	-15.5%	120.8%	129.0%	-43.5%
Water services	100.0%	24.0%	-58.3%	-13.7%	113.2%
Water transfer		19.4%	-58.7%	-19.9%	129.5%
Oilfield Chemicals	46.8%	34.6%	-40.2%	3.3%	525.9%
Water infrastructure	74.1%	23.6%	-43.3%	-3.7%	40.9%
Flowback and well testing		22.3%	-70.4%	-6.8%	148.4%
Cost of goods sold [+]	1,226.7	743.8	634.4	1,142.8	1,330.4	634.7	346.5	523.3
Lease costs								38.0
Depreciation and amortization		90.0	98.8	116.8	130.5	101.6	95.0	104.6
Gross profit	160.8	20.9	-29.3	148.7	198.5	57.8	-44.1	12.2
Gross margin	11.6%	2.7%	-4.8%	11.5%	13.0%	8.3%	-14.6%	2.3%
Selling, general and administrative	118.9	83.1	74.4	111.6	103.2	82.4	34.6	56.5
Equity in earnings	0.9	-0.3
Other operating expenses	-113.1	3.0	7.2	13.7	2.1	0.8	19.4
Adjusted EBITDA	171.4	34.0	-6.2	155.7	234.1	83.9	-2.9	61.0
Adjusted EBITDA margin	12.4%	4.5%	-1.0%	12.1%	15.3%	12.1%	-0.9%	11.4%
Stock-based compensation	15.6	9.5	5.8	15.5	10.4	7.7	0.3	0.7
EBITDA [+]	155.8	24.6	-12.0	140.2	223.7	76.2	-3.2	60.3
EBITDA growth	534.0%	-304.9%	-108.6%	-37.3%	193.7%	-2500.0%	-105.3%
EBITDA margin	11.2%	3.2%	-2.0%	10.9%	14.6%	11.0%	-1.0%	11.3%
Depreciation	115.7	81.8	90.0	108.8	120.6	92.7	88.4	98.4
EBITA	40.1	-57.2	-102.0	31.5	103.1	-16.6	-91.6	-38.1
EBITA margin	2.9%	-7.5%	-16.9%	2.4%	6.7%	-2.4%	-30.3%	-7.1%
Amortization of intangibles		10.6	11.7	11.9	13.1	10.7	8.7	9.3
EBIT [+]	40.1	-67.9	-113.7	19.6	90.0	-27.3	-100.3	-47.4
EBIT growth	-159.0%	-40.3%	-681.1%	-78.3%	-430.1%	-72.8%	111.5%
EBIT margin	2.9%	-8.9%	-18.8%	1.5%	5.9%	-3.9%	-33.2%	-8.9%
Non-recurring items [+]		-2.1	281.1	-3.5	28.4	2.7	198.7	21.4
Asset impairment			283.9	8.1	24.6		198.7	21.4
Loss (gain) on sale of assets		-2.1	-2.8	-11.6	3.8	2.7
Interest expense	2.7	1.7	2.1	2.7	5.3	6.6	16.1	13.7
Interest expense	2.7	1.7	2.1	2.7	5.3	6.6	16.1	13.7
Other income (expense), net [+]	19.3	17.9	-6.3	-14.3	-0.4	0.6	0.6	0.9
Impairment of investments					2.0
Gain (loss) on foreign currency transactions		0.0	0.0	0.3	-1.3	0.3
Other	4.7	0.7	-3.5	-2.9	-2.9	-2.4	0.6	0.9
Pre-tax income	56.7	-49.7	-403.2	6.1	56.0	-36.0	-314.5	-81.6
Income taxes	1.0	0.1	-1.5	1.9	1.7	-0.9	-0.5	0.3
Tax rate	1.7%		0.4%	32.0%	3.0%	2.4%	0.2%
Minority interest	-6.6	-7.9	-63.0	1.4	17.8	-18.3	6.4	1.0
Earnings from continuing ops	54.9	-42.2	-338.7	2.8	36.5	-16.8	-320.4	-164.8
Earnings from discontinued ops								0.0
Net income	54.9	-42.2	-338.7	2.8	36.5	-16.8	-320.4	-164.7
Net margin	4.0%	-5.5%	-56.0%	0.2%	2.4%	-2.4%	-105.9%	-30.8%

Basic EPS [+]		($0.41)	($3.34)	$0.03	$0.34	($0.23)	($5.49)
Growth		-87.8%	-12577.7%	-92.2%	-246.9%	-95.7%
Diluted EPS [+]		($0.41)	($3.34)	$0.03	$0.34	($0.23)	($5.49)
Growth		-87.8%	-12637.1%	-92.2%	-246.6%	-95.7%


Shares outstanding (basic) [+]		103.5	101.4	104.0	106.0	71.7	58.4
Growth		2.1%	-2.5%	-1.9%	47.8%	22.9%
Shares outstanding (diluted) [+]		103.5	101.4	104.5	106.2	71.7	58.4
Growth		2.1%	-3.0%	-1.7%	48.1%	22.9%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.