Smart Sand (NASDAQ: SND) reported Q3 EPS of $0.30, $0.02 better than the analyst estimate of $0.28. Revenue for the quarter came in at $63.1 million versus the consensus estimate of $58.01 million.

• 3Q 2018 revenue of $63.1 million, a 16% increase sequentially
• 3Q 2018 total tons sold of 823,000, the second highest quarterly sales volume in Company history
• 3Q 2018 net income of $12.1 million, an increase of 21% sequentially
• 3Q 2018 Adjusted EBITDA of $22.1 million, an increase of 15% sequentially
• We have ramped up manufacturing of our wellsite storage solutions and we are now a fully integrated frac sand services company
• Our board of directors has authorized the repurchase of up to 2,000,000 shares of the Company’s common stock.

Charles Young, Chief Executive Officer stated, “I’m pleased to report that Smart Sand has had another good quarter on multiple fronts. We had strong financial results despite some market slowdown late in the quarter, we substantially ramped up our sales volumes through our Van Hook Terminal and we began manufacturing our first wellsite storage systems to be deployed in the field under our service model.

We’ve now completed our first fleet of silos and we’re looking to have our first wellsite storage systems operating in the field in late Q4 2018 or early Q1 2019. Smart Sand is now a fully integrated frac sand services Company that offers complete ‘mine to wellsite solutions.’

Our Van Hook terminal in the Bakken has seen an uptick in activity, up over 97% sequentially since going live in the 2nd quarter of this year. We are looking to replicate this in other basins, particularly the Marcellus. We believe the benefits of our long-term growth strategy for in-basin delivery of sand are new contracted customers, increased spot sales, incremental margin from logistics services, and increased opportunities to market our wellsite storage solutions.

Regarding the share repurchase, we believe the current share price doesn’t accurately reflect Smart Sand’s present value or its long-term growth potential. Therefore, repurchasing the Company’s shares now represents an excellent investment opportunity for both the Company and our shareholders.”

For earnings history and earnings-related data on Smart Sand (SND) click here.