Smart Sand Inc
NASDAQ:SND
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Smart Sand Inc
Smart Sand, Inc. engages in supplying frac sand and related services. The company is headquartered in The Woodlands, Texas and currently employs 239 full-time employees. The company went IPO on 2016-11-04. The company produces Northern White frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The company also offers proppant logistics solutions to its customers through its in-basin transloading terminal and its SmartSystems wellsite proppant storage capabilities. Through its SmartSystems wellsite proppant storage solutions, it offers the SmartDepot and SmartDepotXL silo systems, SmartPath transloader, and its rapid deployment trailers. Its SmartDepot silos include passive and active dust suppression technology, along with the capability of a gravity-fed operation. Its SmartPath transloader is a mobile sand transloading system designed to work with bottom dump trailers and features a drive over conveyor, surge bin, and dust collection system.
Smart Sand, Inc. engages in supplying frac sand and related services. The company is headquartered in The Woodlands, Texas and currently employs 239 full-time employees. The company went IPO on 2016-11-04. The company produces Northern White frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The company also offers proppant logistics solutions to its customers through its in-basin transloading terminal and its SmartSystems wellsite proppant storage capabilities. Through its SmartSystems wellsite proppant storage solutions, it offers the SmartDepot and SmartDepotXL silo systems, SmartPath transloader, and its rapid deployment trailers. Its SmartDepot silos include passive and active dust suppression technology, along with the capability of a gravity-fed operation. Its SmartPath transloader is a mobile sand transloading system designed to work with bottom dump trailers and features a drive over conveyor, surge bin, and dust collection system.
Revenue Drop: Q3 revenue was $63.2 million, down from $73.8 million in Q2, reflecting lower sales volumes, average prices, and reduced SmartSystems fleet utilization.
Sales Volumes: Sand volumes were 1.19 million tons, a 7% decline from Q2, but volumes are still up 9% year-to-date over 2023.
Profitability: Adjusted EBITDA fell to $5.7 million from $11.9 million in Q2, primarily due to lower volumes and pricing. Contribution margin also declined.
Positive Cash Flow: Free cash flow for Q3 was $3.7 million, and management expects to remain cash flow positive for the full year.
Shareholder Returns: Paid a special $0.10 per share dividend in October and announced a new $10 million share buyback program.
Capital Discipline: Capital expenditures are down sharply year-to-date, with full-year 2024 guidance at $8–10 million, well below 2023 levels.
New Credit Facility: Secured a 5-year, $30 million ABL revolver to enhance financial flexibility.
Outlook: Q4 sand sales volumes guided to 1.1–1.4 million tons; management expects a pickup in activity and improved pricing environment in 2025, driven by natural gas demand and limited new supply.
