When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
SOI - Solaris Oilfield Infrastructure Drops 20.1% After Earnings
Solaris Oilfield Infrastructure Inc. Class A
Shares of oil stock Solaris Oilfield Infrastructure (NYSE: SOI) fell as much as 22.5% in trading on Tuesday after reporting third-quarter 2022 financial results. Shares closed the day down 20.1%.
Total revenue rose from $49.4 million a year ago to $92.3 million in Q3, and net income jumped from $874,000 to $7.4 million, or $0.22 per share.
On an adjusted basis, which pulls out one-time items, earnings were $0.24 per share, one cent ahead of estimates. But what investors didn't like was revenue falling 5% below estimates, and that's why the stock is down big today.