Smart Sand Reports Higher Sand Sales Volumes and Prices in First Quarter

Smart Sand Partners LP of The Woodlands, TX has reported first quarter 2022 revenues of US$41.6 million versus US$29.6 million in the first quarter of 2021. The increase reflects a higher volume of sales and higher average prices. Overall tons of frac sand sold were approximately 852,000 in the first quarter 2022 versus 760,000 tons sold in the same period of 2021.

Smart Sand’s returned a net loss in the quarter of US$5.9 million compared with a net loss of US$12.2 million in the first quarter of 2021.

Charles Young, Smart Sand’s CEO stated “While we faced operational and logistical challenges due to weather and rail supply chain issues during the quarter, we were able to deliver solid sales volumes of 852,000 tons, which were in line with our fourth quarter 2021 results. We ended the quarter strong with our March sales volumes equaling approximately 43% of total sales volumes in the quarter. Market activity continues to improve. We currently expect our sales volumes to be up at least 25% in the second quarter from first quarter levels. Revenue, net loss, contribution margin and adjusted EBITDA improved compared to fourth quarter 2021 results and we expect this trend to continue. We will continue to stay focused on increasing the utilization of our asset base, managing our operating costs and improving our operating and financial results.”

Volume 36, Issue 10

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