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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.