Solaris Oilfield Infrastructure, Inc. (SOI) Q2 2019 Earnings Call Transcript
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Logo of jester cap with thought bubble.

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Solaris Oilfield Infrastructure, Inc. (NYSE: SOI)
Q2 2019 Earnings Call
Jul 31, 2019, 8:30 a.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the Solaris Second Quarter 2019 Earnings Conference Call. [Operator Instructions]. I would now like to turn the conference over to Yvonne Fletcher, Senior Vice President of Finance and Investor Relations. Please go ahead.

Yvonne Fletcher -- Senior Vice President, Finance and Investor Relations

Good morning and welcome to the Solaris second quarter 2019 earnings conference call. I'm joined today by our Chairman and CEO, Bill Zartler, and our President and CFO, Kyle Ramachandran. Before we begin, I'd like to remind you of our standard cautionary remarks regarding the forward-looking nature of some of the statements that we will make today. Such forward-looking statements may include comments regarding future financial results and reflect a number of known and unknown risks. Please refer to our press release issued yesterday, along with other recent public filings with the Securities and Exchange Commission, that outline those risks.

I would also like to point out that our earnings release and today's conference call will contain discussion of non-GAAP financial measures, which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are available in our earnings release. With that, I'll now turn the call over to our Chairman and CEO, Bill Zartler.

William A. Zartler -- Founder Chairman and Chief Executive Office

Thank you, Yvonne, and welcome everyone. During the second quarter of 2019, Solaris generated $64 million in revenue, which was up 16% from the first quarter, and adjusted EBITDA of $35.2 million, which was up slightly from last quarter. During the quarter, we averaged 123 fully utilized systems earning revenue, which was up 8% from the first quarter, as we added work with both new and existing customers despite a frac market backdrop that was relatively flat, on average, from the first to the second quarter.

During the second quarter, we also grew our last mile management services, which was a large driver of the incremental increase in revenue in the quarter. Historically, we have primarily rented our mobile proppant systems, but several customers have asked us to provide a bundled solution for last mile trucking with a well site rental. Our last mile offering allows us to use our extremely reliable system and the Solaris line of software to provide a low-cost delivered solution to our customers.