Solaris Energy signs 600MW data center power deal, shares jump 4.2% despite slight EPS miss

Solaris Energy Infrastructure secured a 10-year contract to supply over 600 megawatts of power to a global tech firm, boosting its shares by 4.2%. The deal highlights Solaris's shift into data center power, leveraging its mobile gas turbine tech acquired in 2024. While Q1 earnings per share missed estimates by one cent at $0.32, revenue rose 55% year-over-year to $196.2 million, surpassing expectations. The company expects power delivery to start late 2026 and grow through 2028, with Morgan Stanley maintaining an Overweight rating and an $81 price target based on the new contract's value.