Key Highlights

  • Quarterly Revenue came to roughly USD 341 million, a 55% sequential gain, and Net Income reached USD 39 million, or USD 0.42 per diluted Class A share.
  • Adjusted EBITDA stood near USD 136 million, climbing 26% from the prior quarter, while adjusted pro forma net income of USD 43 million equaled USD 0.45 per fully diluted share.
  • A 15-year agreement for about 900 MW of power generation, signed October 29, 2026, lifted capacity under long-term contracts to 3.2 GW.
  • Adjusted EBITDA guidance for the fourth quarter of 2026 moved up to USD 165 million to USD 185 million from USD 145 million to USD 180 million, and first-quarter 2027 guidance was also raised.

Power Solutions Surge 79% as Long-Term Deals Accumulate

Solaris Energy Infrastructure (NYSE:SEI) published third-quarter results on November 4, 2026. Revenue of approximately USD 341 million grew 55% over the second quarter. Power Solutions brought in about USD 284 million, up 79% sequentially, and that segment's Adjusted EBITDA was roughly USD 127 million, 32% higher on stronger services. Capacity earning revenue averaged about 820 MW, versus about 950 MW before, after the company let go of temporary third-party generation while shifting toward owned capacity under long-term contracts. Logistics Solutions revenue was USD 57 million, down 7% on weaker last-mile transport activity, and its segment Adjusted EBITDA was USD 24 million.

A 900 MW Agreement, Capacity Build-Out and New Financing

Solaris supplies power generation, distribution, installation and operations and maintenance to data centers, energy producers and other commercial and industrial customers. The new 15-year agreement carries an option to extend for another 15 years and is with an investment-grade industrial and technology company that already buys from Solaris. Deployments are expected to start in the first half of 2027 and ramp through 2028. It is the third long-term contract with an investment-grade counterparty this year. The company also bought equipment for another 200 MW, lifting pro forma generation capacity to around 3.5 GW in 2029, and agreed a seven-year operations contract covering roughly 400 MW owned by a customer. It sold a USD 1.25 billion unsecured notes offering and added USD 200 million of bank commitments, bringing revolver capacity to USD 850 million, none of it drawn.

Adjusted EBITDA Attributable Figure, Guidance and Dividend

Adjusted EBITDA attributable to the company came to about USD 138 million once the 49.9% partner share of the Stateline joint venture is excluded. Management expects 2027 Adjusted EBITDA to more than double 2026. The release sets the new first-quarter 2027 range at USD 220 million to USD 260 million, up from USD 200 million to USD 240 million. The board approved a USD 0.12 per share dividend, payable December 18, 2026 to holders of record on December 8, which will mark the 33rd consecutive payout. Risks include on-time equipment delivery and execution of the 2027 deployments tied to the new contracts. No share price reaction appears in the material reviewed, and the conference call is set for November 5, 2026.

Where Things Stand

Mainly through the power business. Power Solutions revenue rose 79% sequentially while Logistics slipped 7%, and Solaris Energy Infrastructure (NYSE:SEI) reported USD 0.42 of diluted Earnings per Class A share. Long-term contracted capacity now reaches 3.2 GW, and guidance rose for both the fourth quarter and the first quarter of 2027. The comparison is sequential, so it says little about year-over-year growth, although management said quarterly Adjusted EBITDA has more than doubled over the past year. Next markers are the November 5 call, equipment deliveries for 2027 deployments and the December 18 dividend.