Aris Water Solutions, Inc. announced robust financial and operating results for the third quarter ended September 30, 2024. The company reported a net income of $16.4 million, marking a 34% increase compared to $12.2 million in the third quarter of 2023. Adjusted EBITDA reached $54.3 million, up 21% year-over-year and 9% sequentially.
Operational highlights included a 2% sequential and 6% year-over-year increase in produced water handling volumes to 1,118 thousand barrels of water per day. Water Solutions volumes also saw a significant 27% sequential increase, reaching 459 thousand barrels of water per day. The company maintained strong margins, with an Adjusted Operating Margin per barrel of $0.45, a 13% increase from the prior year.
Based on these strong results and customer activity projections, Aris Water Solutions increased its full-year 2024 Adjusted EBITDA outlook to a range of $208 million to $212 million. The company also reported a strong balance sheet with a leverage ratio of 2.0X, below its target range, and $292 million of available liquidity.
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