10 Best Performing Energy Stocks in 2024

06. Solaris Energy Infrastructure, Inc. (NYSE:SEI)

Year to date Share Price Gain: 76.26%

Number of Hedge Fund Holders: 21

Solaris Energy Infrastructure, Inc. (NYSE:SEI) has positioned itself as a leader in the oilfield services industry with its innovative solutions for oil and gas operators. The company designs and manufactures specialized equipment that supports critical operations such as proppant and fluid management, mobilization, and logistics services, helping oil and gas operators improve their efficiency. Its offerings have made Solaris a standout performer in a highly competitive industry. In 2024, Solaris Energy Infrastructure, Inc. (NYSE:SEI) has been one of the best-performing energy stocks, with an impressive year-to-date share price gain of 76.26%.

In the second quarter of 2024, Solaris Energy Infrastructure, Inc. (NYSE:SEI) reported exceptional results, showcasing its strong financial fundamentals. The company achieved total revenue of $82 million, driven by increased demand for its proppant management and last-mile logistics systems. This represents a year-over-year increase of 15%, reflecting the growing reliance of energy operators on Solaris’ technology to optimize their operations. The company’s adjusted EBITDA also surged to $42 million, a 20% increase compared to the same period last year, underscoring the scalability of its business model and operational efficiencies.

A key factor in Solaris Energy Infrastructure, Inc. (NYSE:SEI) success has been its ability to control costs while expanding its product offerings. The company’s gross margins improved to 51%, signaling strong profitability even in a volatile market environment. Solaris’ strategic acquisition of Mobile Energy Rentals LLC further enhances its capabilities in all-electric equipment and energy storage, enabling it to offer more comprehensive solutions to its clients in the oil and gas industry.

Additionally, Solaris Energy Infrastructure, Inc. (NYSE:SEI) balance sheet remains strong, with a net cash position and minimal debt. This financial flexibility allows the company to continue investing in growth initiatives, such as expanding its Railtronix software and developing new technologies for well site automation. Solaris Energy Infrastructure, Inc. (NYSE:SEI) is well-positioned to capitalize on the ongoing recovery in energy markets, making it a top contender among the best-performing energy stocks in 2024. With its robust financial metrics, strategic acquisitions, and continued innovation, Solaris Oilfield Infrastructure is poised for sustained growth in the years ahead.