Smart Sand Inc ( (SND) ) has released its Q3 earnings. Here is a breakdown of the information Smart Sand Inc presented to its investors.
Smart Sand, Inc. is a fully integrated sand supply and services company, specializing in high-quality frac sand and industrial product solutions for the oil and gas industry. In its third-quarter 2024 earnings report, Smart Sand, Inc. reported a revenue of $63.2 million with a net loss before income taxes of $5.2 million, reflecting a challenging quarter with reduced sales volumes and pricing pressures. The company sold approximately 1.2 million tons of sand, a slight decrease from previous quarters, and faced a decline in adjusted EBITDA to $5.7 million. Despite these challenges, Smart Sand maintained positive free cash flow and executed strategic financial moves, including a new $30 million credit facility and a share repurchase program. Looking ahead, the company is optimistic about increasing demand for natural gas and oil activities, particularly in the Utica basin, anticipating improved volumes and activity into 2025.
