Shares of Aris Water Solutions, Inc. (ARIS) surged 5.74% on Monday after the company reported impressive third-quarter results and provided an upbeat outlook, underscoring its strong momentum and growth prospects.
The water management solutions provider reported adjusted earnings per share of $0.34 for the September quarter, surpassing analysts' expectations of $0.30. Revenue climbed 12.5% year-over-year to $112.31 million, also topping estimates of $103.39 million. Net income for the quarter stood at $16.43 million.
Aris Water Solutions' robust performance was driven by its ongoing expansion efforts and increased demand for its services. The company has been actively pursuing growth opportunities through strategic acquisitions and investments, bolstering its market position and operational capabilities.
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