Business
Smart Sand, Inc. Announces Fourth Quarter 2022 and Full Year 2022 Results
4Q 2022 and full year 2022 revenue of $73.8 million and $255.7 million, respectively.4Q 2022 and full year 2022 total tons sold of approximately 1,175,000 and
About this update from Smart Sand, Inc.
[{"type":"text","content":"4Q 2022 and full year 2022 revenue of $73.8 million and $255.7 million, respectively.4Q 2022 and full year 2022 total tons sold of approximately 1,175,000 and 4,333,000, respectively.4Q 2022 and full year 2022 net cash provided by operating activities of $5.6 million and $5.4 million, respectively.4Q 2022 and full year 2022 free cash flow of $2.4 million and $(13.9) million, respectively. SPRING, Texas, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Smart Sand, Inc. (NASDAQ: SND) (the “Company” or “Smart Sand”), a fully integrated frac and industrial sand supply and services company, a low-cost producer of high quality Northern White raw frac sand, a provider of high quality industrial product solutions and efficient proppant logistics solutions through both its in-basin transloading terminals and SmartSystems™ products and services, today announced results for the fourth quarter and full year ended December 31, 2022. “Smart Sand delivered strong fourth quarter and full year 2022 results,” stated Charles Young, Smart Sand’s Chief Executive Officer. “Market activity was strong in the fourth quarter and is carrying on into the first quarter of 2023. The quality of our Northern White Sand coupled with our cost effective, efficient and sustainable logistics capabilities is allowing us to increase our market presence in the key operating basins we serve in the Eastern and Western United States. We are moving forward with the opening of our Blair, Wisconsin mine and processing plant and expect it to be online in the second quarter of 2023. This will allow Smart Sand to offer our quality sand and superior logistics services to the Canadian market. We are excited about the opportunity to begin competing in this important Northern White Sand market. We experienced increased sales and higher utilization of our SmartSystems fleet in 2022 and we expect the utilization of our fleet to continue to increase in 2023. Our industrial sand business continues to grow as well. Overall, Smart Sand delivered solid financial and operating results in 2022. We are focused on continuing to drive value for our shareholders in 2023.” Full Year 2022 Highlights Revenues were $255.7 million for the full year 2022, compared to $126.6 million for the full year of 2021, an increase of 102% year-over-year. The increase in revenues over 2021 results was due to higher sales volu...