Solaris Energy Infrastructure said first-quarter 2026 revenue rose to about $196 million, up 9% from the fourth quarter of 2025, while adjusted EBITDA climbed 22% sequentially to about $84 million.
Net income came in at $32 million, or $0.32 per diluted Class A share. Adjusted pro forma net income was $39 million, or $0.44 per fully diluted share.
The company’s power solutions segment drove much of the improvement. Revenue there increased 24% sequentially to about $129 million, and segment adjusted EBITDA rose 34% to about $72 million. Average capacity earning revenue in the segment was about 910 megawatts, up from roughly 780 megawatts in the prior quarter, a gain of 17%.
Logistics solutions moved in the opposite direction on revenue. That unit posted $68 million in revenue, down 11% from the fourth quarter, as last-mile transportation activity declined. But segment adjusted EBITDA still edged up 2% to $23 million, helped by higher system activity and a more favorable project mix. Fully utilized systems increased to 104, up 12% sequentially.
Solaris also raised its near-term earnings outlook. It increased second-quarter 2026 adjusted EBITDA guidance to $83 million to $93 million, from a prior range of $76 million to $84 million, and set third-quarter guidance at $80 million to $95 million.
On the growth front, Solaris signed a third long-term power contract on April 24 to supply more than 600 megawatts of power capacity, including balance of plant, to an affiliate of an investment-grade global technology company. The contract runs 10 years with an option to extend for five more, and deployments are expected to start in late 2026 and scale through 2028.
That deal follows the company’s March 16 announcement of 900 megawatts of incremental power generation capacity, which lifted pro forma generation capacity to 3,100 megawatts. Solaris also said it expanded a term loan announced on March 16, adding $200 million in commitments for a total of $500 million.
For shareholders, the board approved a second-quarter dividend of $0.12 per share, payable June 12 to holders of record June 2. Once paid, it will mark the company’s 31st consecutive dividend. As a result of these announcements, the company's shares have moved 4.22% on the market, and are now trading at a price of $72.41. Check out the company's full 8-K submission here.
