Smart Sand Q3 revenue rises on higher sales volumes
SND•Smart Sand reported Q3 revenue of $112.3 million, net income of $8.4 million and EPS of $0.20, and declared a $0.05-per-share special dividend totaling $2.2 million. It expects 2026 sales volumes to rise 20%-30% from 2025 and positive free cash flow for the year.
1. Quarterly results
Smart Sand’s Q3 revenue rose year over year, driven by higher sales volumes and prices. Net income increased year over year, reflecting higher volumes and improved pricing. The company reported adjusted EBITDA of $18 million and gross profit of $19.2 million.
2. Dividend and outlook
The company declared a special dividend of $0.05 per share, returning $2.2 million to shareholders. Smart Sand expects robust activity levels to continue through Q4 2026 and into 2027, 2026 sales volumes to rise 20%-30% over 2025, and positive free cash flow for 2026.
3. Cost drivers
Cost of goods sold fell sequentially as lower sales volumes reduced transload costs, but rose year over year due to higher volumes and related costs. Operating expenses increased because of higher wages, benefits and accounting fees.
