Smart Sand, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:03 pm
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Smart Sand, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 74.78 million compared to USD 68.71 million a year ago. Net income was USD 6.31 million compared to net loss of USD 0.09 million a year ago. Basic earnings per share from continuing operations was USD 0.17. Diluted earnings per share from continuing operations was USD 0.17.
For the six months, sales was USD 1.92 million compared to USD 1.92 million a year ago. Revenue was USD 157.13 million compared to USD 110.32 million a year ago. Net income was USD 2.71 million compared to net loss of USD 6.01 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 0.14 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 0.14 a year ago.
Smart Sand, Inc. is a fully integrated frac and industrial sand supply and services company. The Company offers complete mine to wellsite proppant supply and logistics solutions to its frac sand customers. The Company produces Northern White sand, which is a sand used as proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells and for a variety of industrial applications. It also offers proppant logistics solutions to its customers through its in-basin transloading terminals and its SmartSystems well-site 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. The Companyâs SmartPath transloader is a mobile sand transloading system.