Business
Smart Sand, Inc. Announces Fourth Quarter and Full Year 2021 Results and the Acquisition of the Hi-Crush Blair, Wisconsin Facility
4Q and full year 2021 revenue of $35.1 million and $126.6 million, respectively.4Q and full year 2021 total tons sold of approximately 872,000 and 3,189,000,
About this update from Smart Sand, Inc.
[{"type":"text","content":"4Q and full year 2021 revenue of $35.1 million and $126.6 million, respectively.4Q and full year 2021 total tons sold of approximately 872,000 and 3,189,000, respectively.4Q and full year 2021 net cash (used) provided by operating activities of $(5.1) million and $32.4 million, respectively.4Q and full year 2021 free cash flow of $(9.3) million and $21.2 million, respectively. THE WOODLANDS, Texas, March 08, 2022 (GLOBE NEWSWIRE) -- Smart Sand, Inc. (NASDAQ: SND) (the “Company” or “Smart Sand”), a fully integrated frac sand supply and services company, a low-cost producer of high quality Northern White raw frac sand and provider of proppant logistics solutions through both its in-basin transloading terminal and SmartSystems™ products and services, today announced results for the fourth quarter and full year ended December 31, 2021 and the acquisition of the Hi-Crush Blair Wisconsin Mining Facility. Charles Young, Smart Sand’s Chief Executive Officer, stated, “In the fourth quarter and for the full year 2021, we were able to ramp up our sales volumes leading to our overall sales volumes getting back to pre-pandemic levels by the end of the year. The addition of the Utica, Illinois mining facility allowed us to expand our sales in the Western operating basins of the United States in Colorado and Wyoming, complementing our historically strong market positions in the Bakken and Appalachian basins. Activity levels are showing continued strength and we are seeing higher sales prices and operating margins in 2022.” Young continued, “We are excited about the start of operations at our new Waynesburg transload facility in southwest Pennsylvania. We believe this terminal positions the Company well to compete for growing northern white sand demand in the Appalachian basins. Additionally, our new product and service initiative, Industrial Products Solutions, continues to gain traction. We are seeing good opportunities in the industrial products sector, which will diversify our customer base and should provide improved margins for the business overall. 2022 will be an important year for our wellsite service product offering. Our proprietary SmartPath™ wellsite transloading system is ready to be fully and consistently deployed in the market. With this service now fully ready, we will be able to expand our capabilities to provide consistent, e...