Smart Sand Reports Net Loss, Higher Sand Sales

Smart Sand Partners LP of The Woodlands, TX has reported second quarter 2021 revenues of US$29.6 million versus US$26.1 million in the second quarter of 2020. The increase reflects the impact of the COVID-19 pandemic on activity in 2020. Overall tons of frac sand sold were approximately 767,000 in the second quarter 2021 versus 208,000 tons sold in the same period of 2020.

Smart Sand’s returned a second quarter 2021 net loss of US$27.3 million compared with a net income of US$4.6 million in the second quarter of 2020.

Charles Young, Smart Sand’s CEO, stated, “Although second quarter sales volumes were basically flat with first quarter sales, our activity levels for the first half of 2021 were higher than we achieved in the first half of 2019, before the pandemic severely impacted market activity. Should commodity prices continue to stay in their current pricing ranges, we believe activity will start to improve over the next twelve months. With our high quality asset base, ample liquidity and strong balance sheet, we are well positioned to compete in the market going forward.”

Volume 35, Issue 15

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