SEI · Solaris Energy Infrastructure, Inc.

Solaris Energy Infrastructure delivered strong Q1 2026 results with revenue of $196.2 million, up 9% sequentially, driven by robust performance in Solaris Power Solutions where activity averaged 910 MW (up 17%) and revenue rose 24% to $129 million, yielding Segment Adjusted EBITDA of $72 million (up 34%). Logistics Solutions saw revenue decline 11% to $68 million due to lower last-mile activity, but Segment Adjusted EBITDA edged up 2% to $23 million from higher system utilization and better project mix. GAAP net income reached $32.1 million with diluted EPS of $0.32, while non-GAAP Adjusted EBITDA hit $84 million (up 22%), and Adjusted pro forma net income was $39 million. Management highlighted exceptional execution amid expanding data center demand. Key updates include signing a third long-term contract on April 24 for over 600 MW to a global technology affiliate over 10 years (extendable 5 years), deployments starting late 2026. Previously announced 900 MW capacity additions bring pro forma total to 3,100 MW, with term loan upsized to $500 million on April 8. Guidance raised for Q2 Adjusted EBITDA to $83-93 million (from $76-84 million) and set Q3 at $80-95 million, signaling confidence. Q2 dividend of $0.12 per share marks the 31st consecutive payout, underscoring shareholder commitment. CEO commentary emphasizes momentum in operations, contracts totaling over 2 GW with hyperscalers, and fleet expansion validating strategy in AI data center power needs.