Smart Sand reports Q3 EPS 0c vs. (1c) last year
Q3 Financial Performance: Smart Sand reported Q3 revenue of $63.2 million, down from $73.8 million last year, with approximately 1.2 million tons sold. The company achieved positive free cash flow and announced a special dividend of $0.10 per share along with a $10 million share buyback plan.
Future Outlook: The CEO expressed confidence in the long-term fundamentals of the oil and gas industry, anticipating increased demand for natural gas in the US and Canada, as well as rising oil activity in the Utica basin, leading to a potential increase in volumes through late 2024 and early 2025.
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SMART SAND, INC. DECLARES SPECIAL DIVIDEND OF $0.05 PER SHARE
Special Cash Dividend Announcement: Smart Sand, Inc. has declared a special cash dividend of $0.05 per share, payable on December 16, 2025, to stockholders of record as of December 2, 2025.
Commitment to Stockholder Value: CEO Charles Young emphasized the company's focus on managing costs and maximizing efficiencies to continue returning value to stockholders in the future.
Company Overview: Smart Sand is a fully integrated frac and industrial sand supply company, producing high-quality Northern White sand for hydraulic fracturing and various industrial applications.
Logistics and Operations: The company operates premium sand mines in Wisconsin and Illinois, with logistics solutions that include in-basin transloading terminals and wellsite storage capabilities, enabling product delivery across the U.S. and Canada.
Smart Sand Reports Profit in Q3
Earnings Report: Smart Sand, Inc. reported earnings of $3 million or $0.08 per share for the third quarter, a significant improvement from a loss of $0.1 million or $0 per share in the same period last year.
Revenue Growth: The company's revenues increased to $92.8 million from $63.2 million year over year, driven by higher sales volumes and average selling prices.
Sales Volume Increase: Tons sold rose by 24% year over year, reaching 1,472,000 tons compared to 1,189,000 tons in the previous year.
Stock Performance: On the Nasdaq, SND shares closed at $2.33, reflecting a 4.72% increase.
