SND - Earnings call transcript Q2 2024

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Operator

Ladies and gentlemen, and welcome to the Smart Sand Q2 2024 Earnings Call. [Operator Instructions] This call is being recorded on Wednesday, August 14, 2024. I would now like to turn the conference over to Chris Green. Please go ahead, sir.

Christopher Green

Good morning, and thank you for joining us for Smart Sand's Second Quarter 2024 Earnings Call.

we Beckelman, Young, John Chief Operating today, Executive and Young, call Officer. Lee Officer; Financial the have Founder Chuck Chief Chief On Officer; and

our to begin, from which statements, those materially actual to uncertainties all would results we and subject today like anticipated. risks could Before participants include I are that differ that comments certain forward-looking or made will to remind cause events

our any company's today, This because documents such of conference August risks file XX, and please projections of is new press otherwise. For time-sensitive release forward-looking Sand contains as complete the and or or revise SEC. Smart and XXXX. information or discussion events of financial the a statements, intention obligation call on accurate or update refer with broadcast information, live whether uncertainties, only future the any to disclaims to

to refer Additionally, with and adjusted and business. Please by activities of contribution cash to with to gross and free to margin, we financial net when useful our cash will in contribution this measures, refer measures to provide of information us most EBITDA adjusted release GAAP or These recent our provided results, used our during the our public profit understand better margin to flow. income reconciliations cash press flow filings flow EBITDA investors non-GAAP for call. our our combination free operating

over Chuck to now CEO, call would turn our the I like to Young.

Charles Young

adjusted X higher in increased were just million continued to in million build million. quarter volume and strong for which to momentum Chris, quarter, the volume results. delivered volumes exceeded quarter $XX.X Contribution margin and the In first our under projections. XXXX. of our for tons Thanks, off once of June $XX.X quarter, X.X morning. second second than were improved XX% to good the EBITDA months sales the again second we Sales sales XXXX first

quarter. June. million free Due for $XX.X positive through we free to our cash flow in results, the are now flow strong year cash we Additionally, generated the for

remain and our as a flow Importantly, to cash for we return to generating value later expect our year. cash plans free the this to flow, positive announce we shareholders free expect direct of on to focus result full year

remain also focused on structure. cost We managing our

down costs We production have administrative margin and quarter. improvements driven contribution directly in efforts our resulted costs have the and to EBITDA. adjusted These in

execute goals. to business. In in new savings in finding efficiency continue will the and drive quarter, ways benefit We future the from our these remain long-term committed on to our continued to second initiatives we to

to continue market-leading franchise. White our Northern We strengthen

share We a Marcellus establishing facility, and Sand into continue in the are as Basins Blair consistent through to build market of Northern Smart White and sand supplier the Canadian market. growing we Bakken our

Minerva new in and us. We terminals in business. serve. Ohio, the Utica up We will as our are invested we expanding X in terminals operational open are Dennison, Solutions Product for sand. We're Industrial establishing market the The for transloading markets now formation which shale markets a

needs. product Smart make industrial to the customers meet making We with continue sand to strides change industrial to Sand new their

business for are standards high groundwork committed sand the product for laying business. compete to come and of contracts to Sand year quality for remain last to in new as We service this XXXX. We renewal Smart mile delivery position up industrial our

to in services wellsite. the We and storage mile for continue improve and be of delivery last solutions best-in-class sand the continue products and strive look our to capabilities to to at

methods. more quarter, delivery to our from wavers effective several invest never efficient labor we and the product yields improve production manage initiatives focus implemented sand second cost costs, costs. In and Our our efficient in having mining and plant

Northern a low-cost our to White will focus sand. be maintain producer We of

the North Lee remain provider will Northern call, to low but strong of financing. We Oakdale being equipment in debt foundation and later time. We June, in White refinanced a and in commitment structure sand durable we premier capital more committed strong will our demand White liquidity. X-year a we into not deviate appropriate over Equipment will are with details our from the and financing for be confident America, is Northern new Sand to that the provide

have Sand Northern gas White The primary the for basin we between and and with our Marcellus currently sand Bakken and gas future. are markets Oakdale, direct markets lines, the sand the X operating in divided of Wisconsin; markets. The We White Northern the National all Canadian Wisconsin oil-focused now sand uniquely serve Illinois basins our are Smart Northern Utica access and Duvernay the rail and and the Pacific, demand Bakken, natural The of a in and strong to markets. growing leading Ohio. provider The Canada combination the Utica the the frac primarily Utica, be coupled to including on these the will to evenly oil are and White Northern, Canada continue X Claire, X Class a foreseeable basins mines positioned markets Union Canadian being the supplied shale with believe Burlington and continue the Sand. for Pacific, Marcellus, serve being Canadian in the primary we Bakken, Montney the

its the tons the combined growth as facilities million capacity meet have X needs. of ready Collectively, a available annually. to grow, capacity markets and have And our we XX

for gas demand based that natural gas. why fluctuate and recognize is producer. remain current a we on prices for focused expected That on we frac However, low-cost will sand oil Canada to and being and oil continue

reduce we've force needs. labor costs mining, We continue on to to should our worked their for future, facility plans move convert hydro and to better forward operating our the in align our Oakdale current operational our to which

fourth ERP financial demand relatively based the consistent basin also current to second upon of provide second Marcellus timely quarter, in with a us the strong operational new implementing but slowdown demand see process prices gas the in access in activity. be natural currently slightly. first more we moderate to are the and information. to in sales We with in quarter did volume quarter could had in Marcellus We expect We and third quarter in expected quarter the the a

new our demand Utica any of should terminals, short-term Marcellus. start-up the are slowdown seeing mitigate we the increase, in which the With

gas the prices, activity natural may in to current believe slow low the export long-term centers States supply AI Increasing second the increased we United and the gas in need generation for Canada due demand of in for fundamentals down natural support year half is demand LNG from the in new Marcellus strong. and the While gas facilities natural U.S. demand for data power the

the contrast XXXX and Bakken be Bakken onset at of into that this we prices slows part been picks in of to the natural quarters, growing North third market business in quarter. look to and no as prices, year down oil We in second remained to levels. strong exception. gas Activity in Basin this beyond. In expect in third winter. up fourth activity expect our we healthy had have a typically out the We to second to continue and Dakota activity in has basin, and this the quarter usually the due quarter the

Canadian market We continue presence increasing market. in work to the on our

XXXX, approximately The Canada volume. half XX% sales our of represented of have sales first

XXXX. activity to half consistent in of be Canadian expect second the We

essential options logistics grow to terminal our to to look and long-term in our presence, this at establish footprint were we our Canadian we looking capabilities Efficient sustainable As market. success. market are logistics

efficiently, Pennsylvania been more increase in allows Dakota drivers ability our market Marcellus in to North Our deliver our sustainably have and markets. cost effectively. terminal Hook the Van us Waynesburg terminal key our sand share in in Bakken our Having basins controlled investment in terminals and in to the and

the quarter, improvement Our the first to that free quarter spending cash and flow flow cash and deliver primary effective cash to conversion we months up were free second of flow with for led the disciplined the had quarter, coupled the built positive in second strong in in cost substantial objective year. is positive X of consistently, which cash management receivables capital free the in

We expect for free positive cash to be year. the flow

We returning to start shareholders. back are committed to our value

continue free flow plans expect that sand will energy and of both this our later year, to over to start the our for first free cash the we White months quarter, generation we X to solid continued flow to We a to Northern product our shareholders industrial second our sand the quarter performance. will value the for up be our year. cash communicate markets. In positive and first build expectation returning believe key we remain Given

for continue While there to the due prices, may gas basins We to natural fundamentals is long-term sand particular, short-term in blips positioned be White natural employees low of to to continued Smart employees. the these results and in dedication better strong. believe than Smart advantage other thank company be delivered in couldn't Sand. White to have Sand our gas Smart Northern sand general and for no current Northern work the want and I support hard of Sand. without all We our of for take dedication market their

employees shareholders CFO, Beckelman. keep and interest to we'll everything the mind As our always, in I'll we that, over do. And with Lee call turn our in

Lee Beckelman

Chuck. Thanks,

of to Now quarter, second XXXX results. tons. million highlights first X% volumes lower $XX.X the utilization I'll quarter and revenues revenues first second X.XX in SmartSystems' some a compared tons Total Total go our million, million average to through the the prices our sold XXXX decrease of lower fleet. the of due quarter quarter lower quarter from sales second of lower the reduced sales We the million quarter sand X.XX for were primarily in to from in volumes, the sales compared $XX.X quarter. revenues were first frac second sand

a lower of the reduce sales efficiency to quarter production compared with of the quarter. ongoing due cost to $X.X to in million and the $XX.X the cost million, increased coupled primarily expense higher higher was primarily initiatives The in decrease. incentive to sales volumes $XX Our due compensation million in $XX.X second The the volumes was costs. Total first first decrease were quarter. in to quarter sales and quarter, were compared million first royalties decrease for quarter sequentially from XX% operating

was second the $XX.X that we completed the in This refinancing loss some second was of the of million in During to leases on quarter. had debt. of equipment $X.X ton margin expense or the related was part that the $XX.XX payoff quarter, million June. Contribution extinguishment per were a

was the $XX.X compared million million First Adjusted was $X.X ton. second to quarter. first in quarter contribution EBITDA $XX.XX quarter the in margin million or per $XX.X

improved both down structure. continued EBITDA focus and sequentially sales quarter, on margin our and in volumes were adjusted cost managing our While to due contribution the

activities, the flow by we $XX.X first million XXXX, after capital flow $X.X quarter. expenditures. cash provided activities to operating and $X.X $XX.X cash quarter $X.X million on million had spent led used cash free cash we to free in in by negative in million million Second a operating compares of which This

our have of currently Between $XX the excess receivables end from refinancing to our couple The due the and out, of quarter. capital rate smaller X.X%. operating cash million $XX no over activities completed an This and primarily available new availability a credit our improvement cash the new interest June, as requirements equivalents higher borrowings second X-year of reduced we has quarter financing, of a We liquidity financings. in implied facility. in was by in approximately leveled our equipment $X there had credit in million we with a cash volumes We facility amortizes working with the in sales on second that quarter. conversion we credit along of ended term facility. million Oakdale cash on at and We cash refinanced the our Today, facility. facility, and with approximately million. In borrowings $X.X Equipment are outstanding of had this provided

ABL Our December. in current credit facility comes million due $XX

We this this quarter. third facility in refinancing and facility new to close are the the process in of expect

solid did sales volumes adjusted margin, delivered contribution improved free moderate second quarter, results the in cash sales we flow. EBITDA While and and still

expenditures quarter, Chuck volumes volumes per -- of million be be ton projects ton half primarily to per half the quarterly June The million increased year the expect $X for completion spent the $XX.XX be on And in the sales by the is $XX some the second expenditures in increase range. improved With expect second capital that to the a will gas expect range. strong some Bakken sales margin the as currently million in capital As through capital Marcellus while $XX half margin cash should we in to but $XX contribution in for in to expect and we planned third to highlighted, Contribution concludes current questions. the to be that the new basis. volumes ton to date, lower third to million in and flow prepared year, our cash we in now manage due moderate quarter the to sales call our pullback from to Utica open of $X.X the of quarter quarter. due we to third We be in prices, free year quarter the flow natural range. second sand evaluate projects the mitigated in flow expect into in we the do as We first to year. This expenditures the in well free year. our we were expected the the million for comments, per still free $X cash quarterly delivered the expect of positive we $XX the second Basin. Currently, started

Operator

from [Operator line have Instructions] And we this of comes now the Gengaro first Stifel. from question, Stephen and our

Stephen Gengaro

we going might hard ask forward. volumes the about the and cost for or a of try or the some next first some of know guidance your I'm give are questions to of on the talked of we sort off -- savings sort X ton you're you going of very us in per the the there sticky sort -- level So doing year-over-year side about but any quantify I model me, the quarter that to to maybe contribution a cost of the margin the strong. for one sense on and dissect, think and be things basis given to that way is as level, Is should quarter

Lee Beckelman

Oakdale question the kind we're think well as general, with our line But our in doing labor terms to per to if that's things nature, fairly or average potentially cost that in I of in hard sales a reduce Great, at high and as some managing and Stephen, with production be more and -- of more of a we're the on flexible at hydro things could other mining, $X quantify. it of operations pitch volumes on by in but doing particular, our we're utilization. ton average, operating $X

William Young

yellow what Stephen, the electrically to I that And and like of that we and pumps to driven lot I the hydro trucks moving mining, is, haul iron, would as the with -- of past avoid of the add Yes. a things think and that $X, to the real kind gets we've going we should discussed, kind $X some to should mitigated allows of us provides of spikes that that have forward. and seen diesel a when to headwind in us removal

not little of a much ability So see to about it an have provides and worry that so to bit out more stuff.

Stephen Gengaro

a helps. Okay, that It's obviously very positive trend.

you're quickly The look mostly markets. spot contracted other various currently about when seeing on just is are to other kind of some I the look of relative serving, pricing what question you markets kind the your I and the you like? volumes we've sand add But Maybe Permian what just mean, heard market? at around

Lee Beckelman

In pricing? terms of

Stephen Gengaro

terms in Yes, pricing. of

Lee Beckelman

has John but and relatively add pricing I think been this, -- John can add Chuck flat. to can

second it's last couple year, pricing for -- flat kind down, moderated good the through and of So the been quarters, half last couple the relatively in it first we over of a quarters. saw last of pickup of

William Young

add in seeing we're Yes. market higher in been back little seeing weak, environment just Canada little I pricing interest market those We're And of in bit U.S. not relatively we're little mid-XXs, for pricing pricing in the have teens, levels. we're of the was now markets at teen -- in pricing and in when kind stable lower quite seeing to some contracting what kind the for right? seems dependent. while, But of sustainable. not to a the seeing a the It's would a the in allow a bit bit pricing. a we that.

seems pricing out take that's -- to so knock on it anything that Northern be to see relative going don't we still demand the and be in Market to of stability. White And seemed balance. wood, supply

say that going that to that's us don't much I heard You've forward, of anticipate think And going before. change. we

Charles Young

heavily Northern sand White dependent other one thing our is sand add And and is logistics. rail on I would

rail premier the logistics Our industry. is setup in

the best assets. have We

Stephen Gengaro

if strike the on about have maybe hearing Does and -- just you We forget, I impact all, date. the we rail quick were drop any Canadian guys? that And at one honestly, but one you this don't dead Great. I that. and affects on know

William Young

Yes.

sounds strike. like that date as go to for XX So when to the -- think it big they're able yes, I August is on

goes XXth our in to we're ago, impact told went got Now years the U.S. we've partners ended by that going affect resolved way hopeful and Lower been situation a us. that that of gets doesn't it that to that, that today. rail yes, then our rail to but the impact few right Canada, -- volume resolved hour Similar that, the where and impacting our doesn't where bulk is primarily operations. a But in up the XX,

to But Canadian a it's a that have But for quickly market market very important too an us. certainly resolved relatively is going market assuming of think us. impact growing us. It's still on much for be shouldn't strike, I this

Operator

from line next Josh question Daniel Partners. Energy comes the from the Jayne And of

Joshua Jayne

on Canadian count, better about selling First XXXX? ask I up holding it's in in When And rig just ultimately you're market today go the how question I look a Canada wanted been the that Could you sand at much of and broad where to then overview. is it than sort talk U.S. much into the market. maybe could

market about talk how much is sand you could for coming annually Northern from So demand White? the Canadian

Lee Beckelman

the million-ton XX range. demand, market get we on of in million the demand probably that years. Most Northeast And the Obviously, that do we're Alberta, market in a Coast, currently growth to market estimates be quarter, are of going actual good by good Northwest activity, Shale is couple think market. XX% Yes, And really pickup we activity that, going it strong approximately LNG great but Columbia that to that and driven hard into kind to on by and sales our It's seeing could Josh, and month the really into put West grow now, potential. a export the right believe Canadian capacity up X but British Montney fluctuates of of has in expect for market is over growing substantially and being we Duvernay and that us. the the next and we and gas strong

that. expect and network get really It's a at grow into you XXXX that we give getting as really XX% at to we of higher that today, hope we we're time. and to hard in So percentage exact into an to logistics XXXX Canada as number, more see into and extend we sand get growing market our our into but over be efficient that be

Joshua Jayne

you're talk is what much a versus about of you just Canadian And bit? there into from between market. standpoint difference a Could the grade Marcellus selling a the that

William Young

actually that's pretty good Josh. Yes, a question,

be up that Blair So that But there mine got a bit to market the tends reserves. than slightly is market. the we've XX little Lower our than other in Canadian coarser closer

produce we primarily. we call down for amount when here the keep product of decent so it, XX-XX XXX-mesh produce, And Canada, that a we

mine XXX-mesh with demand balanced able that and into product tends to put to the So XX. kind being of then be Canadian pretty the Lower

and we a of So it's use it's that of products that's something anticipated interesting making. got when something we're we're efficiency, standpoint from most has up, that mine not of kind the property we but able the to good pick actually

Joshua Jayne

on to supply/demand. a sort Okay. I of That's follow-up helpful. ask wanted

capacity product? to reminder have at And us number a you amount believe tons. that today to market in there much today sell let's on and prepared X.X a levels, on I would at as how today's sold? could think is Oakdale, million arrive maximum produce about the call question of could balanced tons of Based it, what's give of just nameplate remarks the mentioned just But pricing. staffing You was you when is your you sand you

William Young

Yes.

particularly a made So some little we bit of whatnot. talked with in to about Oakdale going the mining changes and hydro

of in There substantial today degrees, are staffing, some those we $X.X operate but the in million, plants all plants, all in plants increasing time. the it's we wet Oakdale, increase not where and so is X staffing. And to versus varying getting increase we've dry X got a

but require a stuff increase days little kind that do Oakdale. be of down. Xx to move doesn't doubling X There'll in staff and and thing. the to not here So operation, not increase It's there or any plants a handful a adding to that, that of at there to of it's variable week bit of shutting just staff full a costs XX-hour

similar it's there. really we -- rail good a it's So for demand X with story. is At all a a that's dry think us market increases. tailwind that, plants on-site Blair, wet as kind plant, the X and got Blair of single

cost both be and of expenditure to sites well those of add without so and capital whatnot. to able to without And incremental ton variable a volume positioned are add employees having huge with

Charles Young

reserve with lines the what Additionally, at is. demand the market well Josh, Oakdale really up

our So premier that's asset. probably

Joshua Jayne

sure. up, For just bit little a follow to deeper. guess, I And

better. the we in X.X I'm to when maximum, and what better think was staffing guess, that a to tons, I on actually if product the you I trying or at think not if to understand million that, you're guess is get based XXX% I the could to helps about just mine little frame produced just could be today, on And is want understand that trying I'm the your nameplate going right? question is from I supply/demand where produce, so that yield be what that's what -- market,

Lee Beckelman

average. don't can you get on we of But the plant. XX% by into think a Josh, yields probably that about yield Well, XX%, specific generally, in we're

X.X assets look the up sand can -- we in And at to that. math getting so tons terms kind from our producing, do on integrated again, of But the be basis. million an you we'd of also,

X our in And XX all Oakdale So maximizing of total value capacity. we total. it's of million tons assets have not capacity, its just the it's of maximizing and

they Oakdale the serve synergistic very And same and are so -- can markets. of actually, because Blair some can

of and what of toggle what accesses, forth cetera, or those. X rail on sales, depending in So terms the we et mix sand of the back is sales best between the can our

on of not combined that it's get our for can So product. particular combination can the demand relative max a a it's Oakdale to and what basis volume the assets do, to the we market necessarily

William Young

Josh, And of in tons to rate Yes. just right? a is like February, and perspective, -- kind beyond Oakdale it's demand year, this that. February the that wholesale what in does even things market million -- add I to a time. just from in So run weather-wise But point produced have Oakdale at February. that X.X But really It's it. like months do good a particularly ability in aren't favorable can would flex

So it does have that ability.

Lee Beckelman

our Yes, I increase staffing. think maybe that it's in equipment. require up north of closer would our we volumes probably capacity, incremental fair that to sales be X and staffing, in and tons X% but beyond XX% much And -- say people we with investment of nameplate an get our could a million can current an could get get incremental we with to to bit

Charles Young

go like sand additionally like have the basin. now, right we we need to way plans As those the we for things because in the higher adding that to through levels, all help terminals, things the Canada which throughput to additional

Operator

And the question Ventures. the Geller Bruce of Geller from comes line from next

Bruce Geller

the the the rest half? second profitability, that be costs anticipate also in sales year the the the this tonnage And into expect the similar it sense, you in of Or second or start-up are half provide Utica the beginning sales with basin. You will half. the there second to of in mentioned we levels in to those of Any business? can sales of terms into that of should

Lee Beckelman

first. second answer I'll question the Yes,

shifting it's profitability, the time. a party. at Typically, over lower terms relatively one a consistent a basis, it's to operate third-party so our is we of of our terminal, than on actually from having but opportunities and can we're terminal third terminal cost pricing In terminals

through net So cost. consistent running because relatively time margins that business over be are the terminal is overall going a Pricing at lower to better. actually, our should be we

of specific give we by basin. volumes terms volumes, In don't

in to activity, Marcellus. some and gained think, X in way we're think up about see that do going in it's in terms we in the to year, levels or or might what we Utica, And the of our the think sales. at would Utica in levels expect up hope of Canada But time, to that So pick to in one Canadian least think over next I of that what could time, I terms over get the half it the second higher of additive. to be percentage reduction the year up we we selling the we

Bruce Geller

Very That's great. exciting.

release You tonnage expectation in you're as seeing some give increased saying the And XXXX that? to activity over visibility what XXXX. press you expect the confidence that is the be also improvement mentioned you in there? you XXXX? would insight And also that of the Can gives on in to an

Lee Beckelman

given on any guidance yet, XXXX Bruce. haven't We

to of part big a I activity. support think terms of you're is Chuck So real But LNG going of And a natural basins X to we're next we be players us a that. out the lot center well that's gas demand lead And drivers for some to generation gas, related power operate belief in in natural over natural not as think we that as incremental and going highlighted with the -- activities really that There data help good to and demand online this in. gas the in capacity is of export is would incremental that's this with his demand for to other the get say what that. years going those the for into particular hearing could grow which that I as we market. to going to for comments, I X to think is the in coming consistent very

activity. we It's growth. low of XXXX, guidance but give see early So too now. little kind a right we good relatively of prices to Gas expect are any would that

position on in strong should growth to very that. market have next that other gas regions, to and we 'XX half I year. going mitigating up, But pick the the think think if XX expected of this and the demand leading be activity demand in starts we and 'XX, good into strong that's which a over of some second the this natural Marcellus and

Charles Young

they I'd with also add our usually, receive unit unit where that. add follow we trains, train terminals volumes as can

right of So -- what on and we're kind like that's working now.

Bruce Geller

Great. flow generation. on had question That's very a encouraging. I the also free clarification cash

free you You positive be to said cash for that flow expect the year.

second You first are of half? were you million. of of if positive the free free I flow in not or saying was flow cash cash in confused additional you on million were the whether the top generated you $X about half year expect the to first $X the generate through half

Lee Beckelman

in half define second to Yes. how shifts Again, hard activity working and on how basis. volumes a quarterly a it's of may on little free the we kind year, the much our capital generate of depending happen cash and flow

So into over actual expect flow generation we we positive year. number the to be the year, but specifics half do cash about of for don't get in second the the free the

Bruce Geller

capital to half. And the second in those Okay. lines, mentioned you for some sometime along being initiatives return shareholders discussed

some Just in thereof you're particular a contemplating? combination Is curious considering? share that what or dividend, repurchase it currently you're

Lee Beckelman

I think believe various your in determine kind the right deliver of looking would cash flow consistency we're repurchase. be, of of we a be kind shareholder now, options is we're of to what considering shareholder and our and/or -- that. terms a going Does at terms combination question best the what to to open the the approach and in how to in value of of dividend and back starting generation it

our thoughts on So we that. haven't finalized fully

back our focused still -- towards shareholders. share to are bringing on We moving value

bought back we XX% year, last remember, our to of got You shares.

actually terms consistently didn't best start right we're process in And evaluating we're on do just opportunity going going a now, of go-forward that more forward. the to it in XXXX. basis how think we we So

but more have we're on year, various our probably the earnings evaluating I we'll something think detail and call, all that's next open hopefully this we're at later So options.

Bruce Geller

on really I behalf. appreciate shareholders' those Well, initiatives Great.

that have I you on In just discussed appreciated. the if is your and I'm think you've gas provide idea, regard final are your going? necessarily for insight other oil opportunities are that for initiatives the industrial and end in can related, curious that that's that terrific question. going market markets not do how sales. And I past, X -- end forward? any targeting

William Young

sure. Yes,

excited mine From Utica are, blending margin we We've effort and market. and and to be perspective, kind is continue. installed from we we're interesting So capabilities it invested yes, into, something of grow growing. that and market continue our relatively a that our perspective. to that so industrial It's never about cooling expect a -- an at be likely a it continue it frac money volumes we've what will will and but volume time, it initiatives business

Operator

any Thank closing go back further to remarks. for I would questions. Young like we hand the to Please ahead, have over you. don't call Chuck sir. And now

Charles Young

in call. November. for second speaking quarter earnings again We Thanks forward our to you with joining look

Operator

conference Thank for today. our Thank you. concludes you all This participating. for

may disconnect. now You

Smart Sand (SND) 14 Aug 242024 Q2 Earnings call transcript