Smart Sand Swings To Q3 Profit

(RTTNews) - Smart Sand, Inc. (SND), a supplier of Northern White frac sand, industrial sand and logistics company, Wednesday reported earnings for the third quarter compared to a loss for the same period last year.

The company reported earnings of $3 million or $0.08 per share compared with a loss of $0.1 million or $0 per share of the previous year. The latest results were primarily driven by non-cash deferred income tax expense, the company said in a statement.

Revenues rose to $92.8 million from $63.2 million of the previous year. The increase in revenue year over year was mainly helped by higher sales volumes and higher average selling prices.

Tons sold increased 24 percent year over year to 1,472,000 from 1,189,000 of the prior year.

On Tuesday, SND shares closed at $2.33, up 4.72% on the Nasdaq.