Solaris Energy Infrastructure, historically an oil and gas field services and solutions provider, has morphed into the data-center business. The takeaway from the company's updated guidance on Tuesday was that the business shift is working.

Solaris Energy stock surged 16% to $63.74 on Tuesday after the company raised its adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, expectations for the third and fourth quarters while also initiating first-quarter guidance that was well above Wall Street expectations.

Solaris Energy raised its third-quarter adjusted Ebitda estimate to $110 million to $130 million from $90 million to $105 million. The company also hiked its fourth-quarter adjusted Ebitda forecast to $145 million to $180 million from $100 million to $120 million. Both increases blew past the analyst consensus views of $98.9 million and $112 million, respectively, according to FactSet.

The good news for Solaris investors didn't stop there.

The company also initiated first-quarter guidance with expectations of adjusted Ebitda of $200 million to $240 million, well above Wall Street's $129.1 million expectation, according to FactSet.

Solaris said the new expectations reflect "stronger contributions from both its core power services offerings and better-than-expected performance from its recently acquired businesses."

Investors were enthused with the update and pushed shares toward their best daily percentage gain in more than a month.

The stock has gained 25% this month, part of a 156% advance over the past 12 months reflecting the investor view that the company is a data-center solutions provider more than an oil field services name.

Shares, however, remained about 23% below their record closing high of $82.88 from June 18.

Co-CEO Bill Zartler said on the second-quarter conference call in early August that Solaris provides dedicated power at scale to two data centers and that Solaris is currently working on two other data-center locations.

"This track record of performance has resulted in the execution of long-term contracts with three leading investment grade technology companies," Zartler said.

Zartler added that the data-center market is growing massively and that Solaris continually has expanded the scope of its data-center contracts.

If the company's updated guidance is any indication, Solaris Energy's business is poised to keep surpassing Wall Street's expectations.