SMART SAND, INC. ANNOUNCES UPDATES ON MANAGING MARKET VOLATILITY
Smart Sand, Inc. (SND)
NASDAQ:AMEX Investor Relations:
ir.smartsand.com
Company Research
Source: GlobeNewswire
THE WOODLANDS, Texas, April 07, 2020 (GLOBE NEWSWIRE) -- Smart Sand, Inc. (NASDAQ: SND) (the “Company”) provided an update on the current market environment. The recent decline in oil prices resulting from a combination of oversupply from Russia and Saudi Arabia and reduced demand related to the COVID-19 pandemic has led many exploration and production companies and oilfield service companies to announce plans to slow or stop well completions activity. In response, Smart Sand has reduced its total capital expenditure budget by up to $20 million, including a significant reduction in its SmartSystems™ manufacturing plans. The Company now estimates that full year 2020 capital expenditures will be approximately $5 million to $10 million. The Company also put in place several SG&A cost-cutting measures, including salary reductions of its executive management team between 15% and 20% and suspension of its variable cash compensation programs for all employees, which the Company expects
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SND
Earnings
- 11/12/24 - Miss
SND
Sec Filings
- 12/18/24 - Form 4
- 11/12/24 - Form 8-K
- 11/12/24 - Form 10-Q
- SND's page on the SEC website