Exhibit 99.1

Smart Sand, Inc. Announces Fourth Quarter and Full Year 2017 Results

 

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4Q 2017 revenues of $43.0 million, highest in Company history, increase of 9% sequentially

 

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4Q 2017 706,400 tons sold, highest in Company history, increase of 8% sequentially

 

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4Q and full year 2017 net income of $10.9 million and $21.5 million, respectively

THE WOODLANDS, Texas, March 15, 2018 – Smart Sand, Inc. (NASDAQ: SND) (the “Company” or “Smart Sand”), a pure-play, low-cost producer of high quality Northern White raw frac sand, today announced results for the fourth quarter and full year ended December 31, 2017.

“As the market for frac sand improved during 2017, Smart Sand continued to deliver strong, positive financial results,” stated Charles Young, Chief Executive Officer. “During 2017, we operated at the highest utilization levels in our history, selling over 2.4 million tons of Northern White frac sand, resulting in record full-year revenue and net income.  Our strategy remains centered on our ability to adapt quickly to the constantly changing industry landscape, while operating safely and efficiently to maximize profitability through all industry cycles. Operating at this record level would not have been possible without the hard work and dedication of our talented employees.  Our dedicated workforce, combined with our long-term take-or-pay contracts, low cost operating structure, and strategic investments in logistics infrastructure at our Oakdale facility, positions us well to continue to take advantage of the current positive market trends.  From a strategic perspective, we continue to evaluate opportunities in both the Permian Basin and Bakken as well as last mile solutions to better serve our growing customer base and deliver value to our stockholders.”  

Full Year 2017 Highlights

Revenues of $137.2 million for the full year 2017 were the highest in the history of the Company representing a 132% increase over full year 2016 revenue of $59.2 million.  The increase in revenues was primarily due to higher sales volumes and higher freight revenues resulting from increased shipments to customers to whom we bill freight charges.

Overall tons sold were approximately 2,449,000 in the full year 2017, nearly tripling full year 2016 volume of 826,000 tons.

Net income was $21.5 million, or $0.54 per basic share and $0.53 per diluted share, for the full year 2017, compared with net income of $10.4 million, or $0.43 per basic share and $0.42 per diluted share, for the full year 2016, an increase of 107% year over year.  Net income in 2017 included an $8.5 million tax expense benefit for the full year 2017 due to the changes in the U.S. tax laws that were enacted in December 2017.

Adjusted EBITDA was $30.6 million for the full year 2017 compared to Adjusted EBITDA of $37.8 million for the full year 2016, a decrease of 19% year over year.  The decrease in Adjusted EBITDA was primarily due to lower shortfall revenue of $19.7 million in 2017 and higher operating expenses due to the substantial growth in sales and production activity in 2017, weather related unplanned downtime and maintenance expenses and non-recurring expenses associated with such growth, partially offset by the higher sales volumes.


The following information was filed by Smart Sand, Inc. (SND) on Thursday, March 15, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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