Select Water Solutions reports results of stockholder meeting

Published 06/05/2025, 22:36
Select Water Solutions reports results of stockholder meeting

Select Water Solutions, Inc. (NYSE:WTTR), a company specialized in oil and gas field services with a market capitalization of $989 million, announced the results of its Annual Meeting of Stockholders held on May 2, 2025. The company, which was previously known as Select Energy Services , Inc., reported that approximately 91.73% of the issued and outstanding shares were represented at the meeting. According to InvestingPro analysis, WTTR maintains a GOOD financial health score, with liquid assets exceeding short-term obligations.

During the Annual Meeting, several key proposals were voted on by stockholders. The election of directors saw seven nominees elected to the board with significant majorities. The detailed voting results for each nominee included a majority of votes cast in favor, with a smaller proportion withheld and none against. Broker non-votes were reported for each director as well. This meeting comes at a challenging time for the company, as its stock has declined nearly 37% year-to-date, though it maintains a consistent dividend growth record, having raised dividends for three consecutive years.

Additionally, the appointment of Grant Thornton LLP as the company’s independent registered public accounting firm for the fiscal year 2025 was ratified with a vast majority of votes in favor, a small percentage against, and an even smaller number abstaining.

The non-binding, advisory vote to approve named executive officer compensation also passed with a large majority voting in favor, a minority against, and a small number abstaining. Broker non-votes were again noted for this proposal.

The company emphasized that the information in the report and the attached exhibits are not considered "filed" for purposes of the Securities Exchange Act of 1934 and are not subject to the liabilities of that section. They are also not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.

The report was signed off by Christina Ibrahim, Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary of Select Water Solutions, Inc. The filing included an exhibit, specifically the Cover Page Interactive Data File embedded within the Inline XBRL document. InvestingPro analysis suggests the stock is currently undervalued, with multiple additional insights available in the comprehensive Pro Research Report, which provides detailed analysis of WTTR among 1,400+ top US stocks.

This article is based on a press release statement from Select Water Solutions, Inc.

In other recent news, Select Water Solutions, Inc. reported its fourth-quarter earnings for 2024, revealing a slight miss in earnings per share (EPS) with a reported EPS of -$0.02, compared to the forecasted $0.11. Despite this, the company exceeded revenue expectations, bringing in $349 million against the anticipated $339.97 million. The company also announced a 17% increase in its quarterly dividend, reflecting a commitment to returning value to shareholders. Additionally, Select Water Solutions demonstrated strong performance in its Water Infrastructure segment, achieving a gross margin of 53% and increasing produced water disposal volumes by 43% year-over-year. On the analysis front, Raymond (NSE:RYMD) James maintained a Strong Buy rating on Select Water Solutions, with a price target of $19.00, emphasizing the potential of the company’s Water Infrastructure business. The firm highlighted the segment’s compelling value proposition when compared to competitors, suggesting it could justify the company’s valuation independently. Looking ahead, Select Water Solutions anticipates a 15-25% revenue growth in its Water Infrastructure segment for 2025, as it continues to expand its capabilities in water infrastructure and recycling.

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