| Schedule of summarized financial information by business segment |
Summarized financial information by business segment were as follows for the three-month periods ended June 30, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Three Months Ended June 30, 2025 |
|
|
Water Gathering and Processing |
|
Corporate and Other |
|
Consolidated |
Revenue |
|
$ |
123,748 |
|
$ |
344 |
|
$ |
124,092 |
Cost of Revenue |
|
|
|
|
|
|
|
|
|
Direct Operating Costs |
|
|
58,224 |
|
|
3 |
|
|
58,227 |
Cost of Goods Sold |
|
|
— |
|
|
127 |
|
|
127 |
Depreciation, Amortization and Accretion |
|
|
19,410 |
|
|
562 |
|
|
19,972 |
Total Cost of Revenue |
|
|
77,634 |
|
|
692 |
|
|
78,326 |
Operating Costs and Expenses |
|
|
|
|
|
|
|
|
|
Abandoned Well Costs |
|
|
998 |
|
|
— |
|
|
998 |
General and Administrative |
|
|
— |
|
|
17,699 |
|
|
17,699 |
Research and Development Expense |
|
|
— |
|
|
946 |
|
|
946 |
Other Operating Income, Net |
|
|
— |
|
|
(208) |
|
|
(208) |
Total Operating Expenses |
|
|
998 |
|
|
18,437 |
|
|
19,435 |
Operating Income (Expense) |
|
|
45,116 |
|
|
(18,785) |
|
|
26,331 |
Other Expense |
|
|
|
|
|
|
|
|
|
Interest Expense, Net |
|
|
— |
|
|
9,567 |
|
|
9,567 |
Income (Loss) Before Income Taxes |
|
|
45,116 |
|
|
(28,352) |
|
|
16,764 |
Income Tax Expense |
|
|
— |
|
|
2,680 |
|
|
2,680 |
Net Income (Loss) |
|
|
45,116 |
|
|
(31,032) |
|
|
14,084 |
Net Income Attributable to Noncontrolling Interest |
|
|
— |
|
|
7,433 |
|
|
7,433 |
Net Income (Loss) Attributable to Aris Water Solutions, Inc. |
|
$ |
45,116 |
|
$ |
(38,465) |
|
$ |
6,651 |
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Three Months Ended June 30, 2024 |
|
|
Water Gathering and Processing |
|
Corporate and Other |
|
Consolidated |
Revenue |
|
$ |
101,117 |
|
$ |
— |
|
$ |
101,117 |
Cost of Revenue |
|
|
|
|
|
|
|
|
|
Direct Operating Costs |
|
|
40,194 |
|
|
— |
|
|
40,194 |
Depreciation, Amortization and Accretion |
|
|
19,091 |
|
|
616 |
|
|
19,707 |
Total Cost of Revenue |
|
|
59,285 |
|
|
616 |
|
|
59,901 |
Operating Costs and Expenses |
|
|
|
|
|
|
|
|
|
Abandoned Well Costs |
|
|
(25) |
|
|
— |
|
|
(25) |
General and Administrative |
|
|
— |
|
|
16,037 |
|
|
16,037 |
Research and Development Expense |
|
|
— |
|
|
1,128 |
|
|
1,128 |
Other Operating Expense, Net |
|
|
16 |
|
|
141 |
|
|
157 |
Total Operating (Income) Expenses |
|
|
(9) |
|
|
17,306 |
|
|
17,297 |
Operating Income (Expense) |
|
|
41,841 |
|
|
(17,922) |
|
|
23,919 |
Other Expense |
|
|
|
|
|
|
|
|
|
Interest Expense, Net |
|
|
— |
|
|
8,813 |
|
|
8,813 |
Income (Loss) Before Income Taxes |
|
|
41,841 |
|
|
(26,735) |
|
|
15,106 |
Income Tax Expense |
|
|
— |
|
|
1,994 |
|
|
1,994 |
Net Income (Loss) |
|
|
41,841 |
|
|
(28,729) |
|
|
13,112 |
Net Income Attributable to Noncontrolling Interest |
|
|
— |
|
|
7,147 |
|
|
7,147 |
Net Income (Loss) Attributable to Aris Water Solutions, Inc. |
|
$ |
41,841 |
|
$ |
(35,876) |
|
$ |
5,965 |
Summarized financial information by business segment were as follows for the six-month periods ended June 30, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Six Months Ended June 30, 2025 |
|
|
Water Gathering and Processing |
|
Corporate and Other |
|
Total |
Revenue |
|
$ |
243,999 |
|
$ |
584 |
|
$ |
244,583 |
Cost of Revenue |
|
|
|
|
|
|
|
|
|
Direct Operating Costs |
|
|
108,409 |
|
|
6 |
|
|
108,415 |
Cost of Goods Sold |
|
|
— |
|
|
127 |
|
|
127 |
Depreciation, Amortization and Accretion |
|
|
38,538 |
|
|
1,190 |
|
|
39,728 |
Total Cost of Revenue |
|
|
146,947 |
|
|
1,323 |
|
|
148,270 |
Operating Costs and Expenses |
|
|
|
|
|
|
|
|
|
Abandoned Well Costs |
|
|
1,460 |
|
|
— |
|
|
1,460 |
General and Administrative |
|
|
— |
|
|
37,709 |
|
|
37,709 |
Research and Development Expense |
|
|
— |
|
|
2,074 |
|
|
2,074 |
Other Operating Expense, Net |
|
|
237 |
|
|
667 |
|
|
904 |
Total Operating Expenses |
|
|
1,697 |
|
|
40,450 |
|
|
42,147 |
Operating Income (Expense) |
|
|
95,355 |
|
|
(41,189) |
|
|
54,166 |
Other Expense |
|
|
|
|
|
|
|
|
|
Interest Expense, Net |
|
|
— |
|
|
18,797 |
|
|
18,797 |
Other |
|
|
— |
|
|
2,535 |
|
|
2,535 |
Total Other Expense |
|
|
— |
|
|
21,332 |
|
|
21,332 |
Income (Loss) Before Income Taxes |
|
|
95,355 |
|
|
(62,521) |
|
|
32,834 |
Income Tax Expense |
|
|
— |
|
|
2,750 |
|
|
2,750 |
Net Income (Loss) |
|
|
95,355 |
|
|
(65,271) |
|
|
30,084 |
Net Income Attributable to Noncontrolling Interest |
|
|
— |
|
|
14,822 |
|
|
14,822 |
Net Income (Loss) Attributable to Aris Water Solutions, Inc. |
|
$ |
95,355 |
|
$ |
(80,093) |
|
$ |
15,262 |
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Six Months Ended June 30, 2024 |
|
|
Water Gathering and Processing |
|
Corporate and Other |
|
Total |
Revenue |
|
$ |
204,523 |
|
$ |
— |
|
$ |
204,523 |
Cost of Revenue |
|
|
|
|
|
|
|
|
|
Direct Operating Costs |
|
|
79,840 |
|
|
— |
|
|
79,840 |
Depreciation, Amortization and Accretion |
|
|
37,889 |
|
|
1,239 |
|
|
39,128 |
Total Cost of Revenue |
|
|
117,729 |
|
|
1,239 |
|
|
118,968 |
Operating Costs and Expenses |
|
|
|
|
|
|
|
|
|
Abandoned Well Costs |
|
|
310 |
|
|
— |
|
|
310 |
General and Administrative |
|
|
— |
|
|
30,538 |
|
|
30,538 |
Research and Development Expense |
|
|
— |
|
|
2,193 |
|
|
2,193 |
Other Operating Expense (Income), Net |
|
|
745 |
|
|
(8) |
|
|
737 |
Total Operating Expenses |
|
|
1,055 |
|
|
32,723 |
|
|
33,778 |
Operating Income (Expense) |
|
|
85,739 |
|
|
(33,962) |
|
|
51,777 |
Other Expense |
|
|
|
|
|
|
|
|
|
Interest Expense, Net |
|
|
— |
|
|
17,251 |
|
|
17,251 |
Other |
|
|
— |
|
|
1 |
|
|
1 |
Total Other Expense |
|
|
— |
|
|
17,252 |
|
|
17,252 |
Income (Loss) Before Income Taxes |
|
|
85,739 |
|
|
(51,214) |
|
|
34,525 |
Income Tax Expense |
|
|
— |
|
|
4,583 |
|
|
4,583 |
Net Income (Loss) |
|
|
85,739 |
|
|
(55,797) |
|
|
29,942 |
Net Income Attributable to Noncontrolling Interest |
|
|
— |
|
|
16,354 |
|
|
16,354 |
Net Income (Loss) Attributable to Aris Water Solutions, Inc. |
|
$ |
85,739 |
|
$ |
(72,151) |
|
$ |
13,588 |
|