Welcome to our dedicated page for Smart Sand news (Ticker: SND), a resource for investors and traders seeking the latest updates and insights on Smart Sand stock.
Smart Sand, Inc. reports developments tied to Northern White frac sand, industrial sand products and proppant logistics. The company supplies mine-to-wellsite sand solutions for hydraulic fracturing customers, serves industrial applications such as glass, foundry, filtration, ceramics and building products, and provides logistics through in-basin transloading terminals and SmartSystems wellsite storage and sand management services.
Recurring updates cover quarterly results, sales volumes, cash flow, contribution margin, shale-basin demand in U.S. and Canadian markets, product purchase agreements, investor presentations, special dividends and share repurchase programs. Company news also references sand mines and processing facilities in Wisconsin and Illinois and rail access used to deliver products across the United States and Canada.
Smart Sand (NASDAQ: SND) reported a revenue of $26.1 million for 2Q 2020, down from $47.5 million in 1Q 2020 and $67.9 million in 2Q 2019, largely due to decreased oil demand amid the COVID-19 pandemic. Net income was $4.6 million, a recovery from a minor loss in 1Q 2020 but lower than last year's $14.3 million. Adjusted EBITDA rose to $15.6 million, boosted by shortfall revenues. The company reduced its capital expenditure budget amid ongoing market challenges, with full-year spend now under $10 million.
Smart Sand, Inc. (NASDAQ: SND) will announce its second quarter financial results on August 4, 2020, after market close. A conference call will follow on August 5, 2020, at 10:00 a.m. ET, hosted by CEO Chuck Young, CFO Lee Beckelman, and COO John Young. Investors can access the live webcast on the company’s website or participate via telephone. Smart Sand specializes in frac sand supply and services, operating a mine in Wisconsin with 316 million tons of recoverable sand reserves.
Smart Sand, Inc. (NASDAQ: SND) has announced it has regained compliance with Nasdaq listing requirements, following a period where its stock price fell below the $1.00 minimum threshold. After a notification on May 14, 2020, regarding its non-compliance, the company reported that from May 28 to June 10, 2020, the bid price was maintained at or above $1.00. CEO Charles Young expressed satisfaction with this compliance achievement, emphasizing the company's commitment to providing high-quality products and services to its customers.