The record revenue and raised volume guidance (10-20% YoY growth) signal strong demand momentum, particularly in the Appalachian and Canadian basins. Traders should watch for continued strength in Q3 and Q4, as well as any updates on the new SmartSystem fleet deployments and industrial product sales growth.
Price Chart
Executive Summary
Smart Sand reported a record-breaking Q2 2026 with revenue surging 34% YoY to $115.1M and net income swinging to $10.2M ($0.26/share) from a loss in Q1, driven by record sales volumes of 1.864M tons. The company also guided for 10-20% full-year sales volume growth and announced a planned CFO transition from Lee Beckelman to James Young, effective January 2027, which is a routine succession. The combination of a massive operational beat and raised guidance strongly outweighs the neutral CFO transition, making this a clear bullish catalyst for the stock.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $115.1M, up 34% YoY from $85.8M and 24% sequentially from $93.1M.
- Record quarterly sales volume of 1,864,000 tons, up 31% YoY and 25% sequentially.
- Net income of $10.2M ($0.26 basic EPS) vs a net loss of $(3.9M) in Q1 2026.
- Adjusted EBITDA of $18.7M, up from $3.8M in Q1 2026 and $7.8M in Q2 2025.
- Company expects 2026 sales volumes to increase 10% to 20% compared with 2025.
- CFO Lee Beckelman to transition to advisor role effective Jan 1, 2027; James Young appointed as successor.
- Year-to-date capital returned to shareholders totals ~$12.1M through share repurchases and dividends.
Financial Impact
Revenue increased $29.3M sequentially and $29.3M YoY; net income improved by $14.0M sequentially.
Risk Factors
- Free cash flow was negative $(1.4)M in Q2 due to higher capex, though management expects positive FCF for the full year.
- Cash on hand declined to $10.2M from $19.5M at Q1 end, though the company has $30M undrawn credit facility.
- The CFO transition, while orderly, introduces a minor leadership risk as James Young moves from General Counsel to CFO.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001529628-26-000096 |
| Exhibit: ex101-beckelmanemploymenta.htm | 0001529628-26-000096 |
| Document: snd-20260811.htm | 0001529628-26-000096 |
| Document: 0001529628-26-000096-index-headers.html | 0001529628-26-000096 |
| Document: 0001529628-26-000096-index.html | 0001529628-26-000096 |
| Document: 0001529628-26-000096.txt | 0001529628-26-000096 |
| 8-K Data (Synthetic) | 0001529628-26-000096 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 9w ago | Insider Cluster | $4.69 $5.07 | ▲ +8.10% | ▲ +7.85% | $4.84 (+3.20%) |
Aug 19, 2026 9w ago | Insider Cluster | $4.85 $5.38 | ▲ +10.93% | ▲ +10.93% | $4.84 (−0.21%) |
Aug 19, 2026 9w ago | Insider Cluster | $4.85 $5.38 | ▲ +10.93% | ▲ +10.93% | $4.84 (−0.21%) |
Aug 19, 2026 9w ago | 144 | $4.85 $5.38 | ▼ −10.93% | ▼ −10.93% | $4.84 (+0.21%) |
Aug 17, 2026 9w ago | Insider Cluster | $4.97 $5.31 | ▲ +6.74% | ▲ +7.73% | $4.84 (−2.62%) |
Aug 11, 2026 10w ago | 8-K | $4.96 $5.20 | ▲ +4.84% | ▲ +6.74% | $4.84 (−2.42%) |
Jun 1, 2026 21w ago | Insider Cluster | $4.91 $4.73 | ▼ −3.67% | ▼ −2.10% | $4.84 (−1.43%) |
May 12, 2026 23w ago | 8-K | $4.61 $5.19 | ▲ +12.58% | ▲ +13.19% | $4.84 (+4.99%) |
Apr 22, 2026 26w ago | DEFA14A | $5.28 $4.88 | ▼ −7.58% | ▼ −12.21% | $4.84 (−8.33%) |
US Market Status
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