earnings
confidence high
sentiment neutral
materiality 0.75
Smart Sand Q2 revenue $29.6M; settles litigation for $35M cash; signs new EQT supply deal
Smart Sand, Inc.
2021-Q2 EPS reported
-$0.75
revenue$57,089,000
- Revenue $29.6M vs $26.1M YoY; tons sold 767k (up 269% YoY).
- Net loss $(27.3)M ($0.65/share) due to $19.6M non-cash bad debt from U.S. Well settlement.
- Received $35M cash from U.S. Well settlement; operating cash flow $32.6M, free cash flow $29.7M.
- Entered multi-year take-or-pay supply agreement with EQT, replacing terminated prior agreements.
- FY 2021 capex guidance $10M-$12M; cash on hand $39.3M at June 30.