The following is a summary of the Smart Sand, Inc. (SND) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Smart Sand reported positive free cash flow of $3.7 million for Q3 2024.

• They paid a special dividend of $0.10 per share and announced a share buyback plan of up to $10 million.

• Sales volume reached 1.2 million tons, with adjusted EBITDA of $5.7 million. Total revenues for Q3 were $63.2 million, down from $73.8 million in Q2, impacted by lower sand sales volumes and average sales prices.

Business Progress:

• Introduced a new $30 million ABL credit facility with First Citizens Bank, enhancing financial flexibility.

• Launched operations at new terminals in Denison and Minerva, Ohio, expanding into the Utica Shale basin and reducing logistics costs.

• Increased industrial product solutions (IPS) sales volumes by 38% sequentially, positioning for potential growth in glass and foundry markets.

Opportunities:

• Positive trends in natural gas demand, particularly for LNG and power plants, expected to drive demand for Smart Sand's products.

• Expansion into significant oil and gas basins like Marcellus, Bakken, and Canadian markets, with increased activity forecasted for 2025.

• Positioned to benefit from limited capital availability for new Northern White sand capacity, enhancing competitive edge.

Risks:

• The pricing environment remains challenging with current activity levels; however, improvements are expected in 2025 due to constrained supply of fine mesh sands and ongoing demand increases.

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