Smart Sand Inc Down 12.99% To $2.21 After Earnings Beat

Smart Sand Inc (SND) beat out earnings estimates for Q2 2022 this afternoon.

reported that it broke-even during the quarter.

Consensus analyst estimates were at $54.1 million. The Energy company managed to surpass those expectations for its second quarter with revenue of $68.7 million, a positive revenue surprise of $14.6 million (27%). The firm managed 132% growth year-over-year due to Smart Sand Inc reporting quarterly revenue of $29.6 million in its year-ago quarter. Smart Sand Inc achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 12.99% to $2.21 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Trading in the five days leading up to the report earned Smart Sand Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 33.

Smart Sand Inc is a fully integrated frac sand supply and services company that offers complete mine to wellsite proppant supply and logistics solutions. It produces Northern White frac sand, which is a premium proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. Its product portfolio includes Smart System, which includes SmartDepot Silo and SmartPath Loader. The company caters its products and services primarily to oil and natural gas exploration and production companies and oilfield service companies. The majority of its revenue comes from Sand Sales, followed by logistics.