Solaris Energy shares surge on raised Ebitda forecast

Shares of Solaris Energy Infrastructure experienced a significant upswing, climbing as much as 21% to reach an all-time intraday high.

This surge came after the company, which specializes in power equipment and oil field services, announced an increase in its adjusted EBITDA guidance for the fourth quarter of 2024.

The company has updated its forecast, now expecting the adjusted EBITDA to be between $36 million and $39 million. Previously, the guidance was set at $33 million to $36 million. The revision reflects Solaris Energy's positive outlook based on recent strategic moves.

In response to the growing demand from their customers, Solaris Energy has placed orders for nine additional gas-fired turbines, each with a capacity of 16.5 megawatts.

These orders will augment the company's generation capacity by approximately 145 megawatts, indicating a proactive approach to scaling operations to meet market needs.

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Source: Investing.com