Smart Sand Inc Down 5.45% To $1.91 After Earnings Miss

Tuesday, March 12, 2024 - Smart Sand Inc (SND) reported downside earnings and upside revenues.

Analyst expectations for Smart Sand Inc earnings per share (EPS) were at a loss of $0.06 per share, with the company missing those estimates with a reported EPS loss of $0.12 per share, leading to a negative surprise of $0.06 per share (-100%). Smart Sand Inc's earnings were down 300% year-over-year as the firm reported an EPS of $0.06 in its year-ago quarter. The negative annual growth shows the Energy company isn't performing well amid current economic conditions.

Consensus estimates for Smart Sand Inc revenue averaged out to $57.7 million, with the business managing to beat those expectations with reported fourth-quarter revenue of $61.9 million. The $4.2 million (7%) positive revenue surprise led to negative 16% growth year-over-year as the firm reported revenue of $73.8 million in its year-ago quarter. The lower earnings growth compared to revenue points to Smart Sand Inc not being able to improve its profit margin.

The stock is down 5.45% to $1.91 after the report.

Smart Sand Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Smart Sand Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 23, putting Smart Sand Inc in the bottom 25% of stocks. The firm set a 52-week high on September 20, 2023 at $2.48 and set a 52-week low on May 31, 2023 at $1.44.

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.