Select Water raises $192M, expands infrastructure amid Middle East supply shocks and tariffs

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

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  $201.3 million equity offering in February 2026 generated $192.2 million net proceeds to pay down debt, fund infrastructure projects, and support acquisitions, strengthening balance sheet and growth capacity.

  MD&A: Capital Raising verify on EDGAR →
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  Water Infrastructure revenue surged 33.6% to $96.7 million driven by long-term recycling contracts and New Mexico buildout, now 26.4% of total revenue versus 19.3% prior year, reflecting strategic shift to higher-margin contracted business.

  MD&A: Segment Performance verify on EDGAR →
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  Iran conflict and Strait of Hormuz disruption depressed global oil/gas supply by 7.3 million barrels/day in March 2026, elevating commodity prices and introducing supply chain risks for chemicals despite domestic sourcing focus.

  MD&A: Geopolitical Risks / Risk Factors verify on EDGAR →