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Smart Sand, Inc. (NASDAQ: SND) stands as a premier supplier of industrial sand, focusing primarily on Northern White frac sand. This high-quality proppant plays a critical role in enhancing hydrocarbon recovery rates during the hydraulic fracturing of oil and natural gas wells. With over 1,000 acres of premium reserves and adjacency to the Canadian Pacific Railroad, Smart Sand’s Oakdale, WI facility optimizes logistical efficiency, ensuring a cost-effective supply across North America.
The company offers comprehensive mine-to-wellsite proppant supply and logistics solutions under its Smart System, which includes the SmartBelt conveyor, SmartDepot storage silos, and SmartPath loader. These innovations streamline the transportation and storage of frac sand, boosting operational efficiency for oil and gas exploration and production companies, as well as oilfield service providers.
Recent achievements underscore Smart Sand’s robust position in the market. The company reported strong financial results in the second quarter of 2023, with net income surging to $6.3 million from a substantial loss in the previous quarter. Additionally, Smart Sand ramped up its operations at the Blair, WI facility and successfully penetrated the Canadian market, a key area for Northern White frac sand.
Smart Sand’s financial condition remains solid, with consistent revenue growth driven by higher average sales prices and increased industrial product solutions. The company has also strengthened its logistics capabilities, expanding in-basin transloading terminals and enhancing wellsite storage with its SmartSystems™. These advancements have allowed Smart Sand to deliver superior customer service, catering to a diverse client base that includes industrial manufacturers.
The company’s performance in the third quarter of 2023 continued to impress, with a notable increase in sales volumes and a record contribution margin. Despite a challenging fourth quarter marked by lower seasonal market activity, Smart Sand remains optimistic about future growth, bolstered by strategic investments and operational efficiencies.
Smart Sand maintains a strong liquidity position, supported by cash on hand, robust cash flow from operations, and available credit lines. This financial stability enables the company to invest in key projects and expand its market reach, ensuring sustained growth and shareholder returns. For more information, visit www.smartsand.com.
Smart Sand (NASDAQ: SND) reported Q3 2024 results with revenue of $63.2 million, down from $73.8 million in Q2 2024 and $76.9 million in Q3 2023. The company sold approximately 1.2 million tons, showing a 7% sequential decrease. Net loss before income tax was $5.2 million, compared to net income of $1.9 million in Q2 2024. Adjusted EBITDA was $5.7 million, down from $11.9 million in Q2. The company announced a $0.10 per share special dividend and approved a $10 million share buyback program. A new five-year $30 million ABL credit facility was secured with First Citizens Bank.
Smart Sand (NASDAQ: SND) has announced it will release its third quarter 2024 financial results after market close on Tuesday, November 12, 2024. The company will host a conference call for investors on Wednesday, November 13, 2024, at 10:00 a.m. Eastern Time. The call will be led by CEO Chuck Young, CFO Lee Beckelman, COO John Young, and VP of Accounting Chris Green. Investors can join via phone or webcast, with replay available on the company's website.
Smart Sand, Inc. (NASDAQ: SND) has announced two significant measures to return value to shareholders. Firstly, the company's board of directors has declared a special cash dividend of $0.10 per share, payable on October 28, 2024, to stockholders of record as of October 15, 2024. Secondly, the board has approved a share repurchase program authorizing the company to buy back up to $10.0 million of its outstanding common stock through April 3, 2026.
The repurchase program allows Smart Sand flexibility in timing, manner, price, and amount of share buybacks. CEO Charles Young attributed these shareholder-friendly actions to the company's focus on cost reduction, low leverage, and operational efficiency. He emphasized Smart Sand's commitment to maintaining low leverage, sufficient liquidity, and positive free cash flow generation while seeking opportunities to return value to stockholders.
Smart Sand (NASDAQ: SND) reported strong Q2 2024 results with revenue of $73.8 million and net income before taxes of $1.9 million. The company sold approximately 1.3 million tons of sand, a 5% decrease from Q1 2024 but an 18% increase year-over-year. Adjusted EBITDA rose to $11.9 million, up from $9.3 million in Q1 2024. Smart Sand implemented efficiency measures, reducing production costs and administrative expenses, leading to improved contribution margin and free cash flow. The company expects to be free cash flow positive for 2024 and plans to start marketing sand in the Utica shale formation in Q3 2024.
Smart Sand (NASDAQ: SND) has announced the timing for its second quarter 2024 earnings release and investor conference call. The company will release its financial results after market close on Tuesday, August 13, 2024. An investor conference call is scheduled for Wednesday, August 14, 2024, at 10:00 a.m. Eastern Time.
The call will be hosted by key executives including CEO Chuck Young, CFO Lee Beckelman, COO John Young, and VP of Accounting Chris Green. Investors can join by dialing (646) 357-8785 or 1-800-836-8184 and requesting access to the Smart Sand call. A webcast option is also available via a provided link, and the call can be accessed through the company's Investor Relations website. A replay will be made available shortly after the call on the company's website.
Smart Sand, Inc. (NASDAQ: SND) reported its first quarter 2024 financial results, highlighting a significant increase in sales volumes and revenues. The company sold 1.3 million tons of sand, generating $83.1 million in revenue, a 31% increase from the previous quarter. However, the company reported a net loss of $0.2 million, an improvement from the $4.8 million loss in Q4 2023. Adjusted EBITDA rose to $9.3 million, driven by higher sand sales and better utilization of the SmartSystems fleet. Despite the improved operational metrics, free cash flow was negative at $(5.5) million due to increased working capital needs. Smart Sand expects positive free cash flow for the full year 2024 and has earmarked $15-$20 million for capital expenditures.
Smart Sand, Inc. (NASDAQ: SND) will release its first quarter financial results on May 13, 2024, and host a conference call on May 14, 2024, to discuss recent events. Chuck Young, Lee Beckelman, John Young, and Christopher Green will host the call. Investors can join via phone, webcast, or teleconference.
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