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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) has announced it will release its first quarter financial results after market close on May 9, 2023. A conference call for investors is scheduled for May 10, 2023, at 10:00 a.m. Eastern Time, hosted by CEO Chuck Young, CFO Lee Beckelman, and COO John Young. This call will discuss the recent performance and significant events.
Smart Sand is a fully integrated frac sand supply company, specializing in Northern White sand, utilized in hydrocarbon recovery and various industrial applications. The company operates mines in Wisconsin and Illinois, with access to Class I rail lines for efficient product delivery across the U.S. and Canada.
Smart Sand, Inc. reported robust financial results for the fourth quarter and full year 2022. Revenues reached $73.8 million for Q4 and $255.7 million for the full year, marking year-over-year increases of 110% and 102%, respectively. Total tons sold were approximately 1,175,000 in Q4 and 4,333,000 in 2022, up 35% and 36% year-over-year. The company achieved a net income of $2.6 million in Q4 compared to a net loss of $(12.2) million in Q4 2021. Adjusted EBITDA also improved, reaching $10.7 million for Q4 and $29.3 million for the year. Despite a negative free cash flow of $(13.9 million) for the full year, cash operations remain positive.
Smart Sand, Inc. (NASDAQ: SND) has completed the repurchase of 5.18 million shares from Clearlake Capital Partners for approximately $8.85 million. Of this amount, $4.42 million was paid in cash, while the remainder is financed through an unsecured promissory note maturing on December 15, 2023. This buyback represents about 11.3% of the company's outstanding shares, underscoring Smart Sand's commitment to enhancing shareholder value. CEO Charles Young emphasized the strategic importance of this move as a solid investment in the company's future, thanking Clearlake for its longstanding partnership and initial support since 2012.
Smart Sand, Inc. (NASDAQ: SND) announced its fourth quarter and full year financial results will be released on February 28, 2023, after market close. A conference call to discuss these results is scheduled for March 1, 2023, at 10:00 a.m. ET, hosted by CEO Chuck Young, CFO Lee Beckelman, and COO John Young. The call will be available via webcast on the company’s website, and participants should register in advance to receive dial-in information. Smart Sand is a leading provider of frac and industrial sand, producing high-quality Northern White sand for oil and gas applications, with operational facilities in Wisconsin and Illinois.
Smart Sand, Inc. reported strong financial results for Q3 2022, with revenues of $71.6 million and a net income of $2.7 million. Despite a 7% sequential decrease in tons sold, volumes increased by 41% year-over-year. The company's gross profit rose to $11.4 million, driven by higher sales prices and shortfall revenues. Adjusted EBITDA was $11.3 million, reflecting improved operational efficiency. Smart Sand maintained a positive outlook for demand in the North American market, forecasting continued strong performance.
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