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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.