YARDLEY, PA — Smart Sand, Inc. (NASDAQ: SND) has released its financial results for the first quarter of 2025, highlighting a revenue of $65.6 million and cash flow from operations of $8.7 million. The company sold approximately 1.1 million tons of sand during the quarter, reflecting a sequential decline following record-breaking sales in late 2024.
CEO Charles Young noted the company’s focus on maintaining financial discipline and generating shareholder value. “During the first quarter, Smart Sand continued to demonstrate its commitment to delivering positive free cash flow through the operating cycles of our business and returning value to our shareholders,” said Young.
The company’s free cash flow for the quarter totaled $5.2 million, aided by a focus on careful spending and operational efficiencies. Additionally, Smart Sand repurchased 135,196 shares under its share repurchase program, signaling its ongoing efforts to enhance shareholder returns.
While sales volumes decreased by 27% sequentially and 20% year-over-year, primarily due to seasonal factors and a surge in demand during the fourth quarter of 2024, Young shared an optimistic outlook for the second quarter. “We anticipate sales volumes to rise significantly, increasing between 10% and 20% compared to first-quarter results,” he said, citing expected growth in key markets such as the Marcellus, Utica, and Bakken basins.
Net cash provided by operating activities surged to $8.7 million from $1.0 million in the prior quarter. However, the company reported a net loss of $24.2 million for the first quarter, primarily attributed to deferred tax expenses.
Smart Sand also emphasized its forward-looking strategy, with plans for increased capital expenditures over the next two quarters. These investments, focused on maintenance and operational growth, are expected to support long-term performance while temporarily impacting free cash flow. Despite this, Young reinforced the company’s confidence in generating positive free cash flow for the full year.
“Although industrial sales represent a smaller portion of our business, we’re seeing encouraging growth in this segment,” added Young, highlighting record-breaking industrial sales volumes and improvements in the SmartSystems division.
Looking ahead, Smart Sand aims to further strengthen its market position, capitalizing on growth opportunities and maintaining its focus on delivering value to shareholders through stock buybacks and potential special dividends. With increased activity anticipated across key markets, the company is poised for a significant rebound in the upcoming quarters.
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