02:08 PM EDT, 05/08/2024 (MT Newswires) -- Aris Water Solutions ( ARIS ) shares were up 8.6% in recent trading on Wednesday, a day after the company posted Q1 adjusted net income and revenue ahead of the consensus.

The company reported Q1 adjusted net income Tuesday of $0.34 per diluted share, up from $0.17 a year earlier.

Analysts polled by Capital IQ expected $0.24.

Revenue for the quarter ended March 31 was $103.4 million, up from $91.6 million a year earlier.

Analysts surveyed by Capital IQ expected $96.4 million.

The company's board increased the quarterly dividend by $0.015 to $0.105 per share, payable on June 20 to shareholders of record on June 6.

Price: 16.94, Change: +1.34, Percent Change: +8.56