Smart Sand 2025 Q3 Earnings Profit Surges 3,163% on Strong Revenue Growth

Smart Sand (SND) delivered a standout performance in Q3 2025, surpassing expectations with a 46.9% revenue increase and a dramatic net income turnaround. The company returned to profitability with $3 million in net income, a stark contrast to the $98,000 loss in the same period last year. Management highlighted robust demand in Canada and Utica shale, alongside strategic cost management, as key drivers.

Revenue

Smart Sand’s total revenue surged to $92.78 million in Q3 2025, reflecting a 46.9% year-over-year increase. The company’s core Sand segment led with $91.64 million in revenue, driven by record sales volumes into Canada and expanded operations in the Utica shale region. The SmartSystems segment contributed $1.14 million, though utilization rates for its rental equipment declined compared to the prior year.

Earnings/Net Income

The company reported stable earnings per share (EPS) of $0.08, matching the prior year. However, net income saw a remarkable 3,163.3% improvement, jumping to $3 million from a $98,000 loss in 2024 Q3. This turnaround was fueled by higher sales volumes, improved pricing, and a $4.4 million non-recurring payment from a contractual excess-tons agreement.

Post-Earnings Price Action Review

Smart Sand’s stock price demonstrated strong post-earnings momentum, rising 2.92% on the latest trading day and surging 15.96% over the past week. Month-to-date gains reached 13.82%, reflecting investor optimism around the company’s profitability and market expansion. The positive sentiment aligns with the company’s guidance for full-year 2025 sales volumes of 5.1–5.4 million tons and free cash flow positivity.

CEO Commentary

Charles Young, Smart Sand’s CEO, emphasized the company’s strategic focus on expanding into high-growth markets like Canada and Utica shale while maintaining disciplined cost management. He highlighted the importance of shareholder returns, noting that $6.4 million has been returned via dividends and buybacks in 2025.

Guidance

Smart Sand projects full-year 2025 sales volumes between 5.1 and 5.4 million tons and anticipates remaining free cash flow positive for the year. The company also expects capital expenditures of $15–$17 million (excluding acquisitions), underscoring its balanced approach to growth and financial discipline.

Additional News

Smart Sand announced its participation in the Lytham Partners Fall 2025 Investor Conference on September 30, 2025, where it will present its strategic initiatives and operational updates. The company also declared a $0.10 per share special dividend, payable August 14, 2025, as part of its shareholder return strategy. Additionally, the firm outlined timing for its Q3 2025 earnings release on November 12, 2025, and emphasized its commitment to transparent financial reporting.

Smart Sand’s Q3 2025 results underscore its resilience in a competitive market, with strong revenue growth and profitability turning points. The company’s strategic investments in Canada and Utica shale, coupled with disciplined capital allocation, position it well for sustained performance in 2025.