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Driving WS2812Bs With Pure Logic
hackaday38d ago

Driving WS2812Bs With Pure Logic

The WS2812B has become one of the most popular addressable LEDs out there. They’re easy to drive from just about any microcontroller you can think of. But what if you ...read more

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3 Canadian Stocks With Magnificent Upside Potential in 2026
fool_ca38d ago

3 Canadian Stocks With Magnificent Upside Potential in 2026

Investors looking for world-class opportunities with truly incredible long-term upside have come to the right place – here are three great picks. The post 3 Canadian Stocks With Magnificent Upside Potential in 2026 appeared first on The Motley Fool Canada.

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Smart Sand, Inc. Announces Fourth Quarter 2025 and Full Year 2025 Results
benzinga38d ago

Smart Sand, Inc. Announces Fourth Quarter 2025 and Full Year 2025 Results

4Q 2025 and full year 2025 revenue of $86.0 million and $330.2 million, respectively.4Q 2025 and full year 2025 total tons sold of approximately 1,478,000 and 5,443,000, respectively.4Q 2025 and full year 2025 net cash provided by operating activities of $22.4 million and $44.1 million, respectively.4Q 2025 and full year 2025 free cash flow of $20.4 million and $32.5 million, respectively,4Q 2025 Smart Sand declared and paid $0.05 per share dividend to stockholders.Smart Sand's board of directors approved a new two-year repurchase program authorizing the repurchase of up to $20.0 million in ordinary shares of the Company's common stock.YARDLEY, Pa., Feb. 26, 2026 /PRNewswire/ -- Smart Sand, Inc. (NASDAQ:SND) (the "Company" or "Smart Sand"), a fully integrated frac and industrial sand supply and services company, a low-cost producer of high quality Northern White sand, and a proppant logistics solutions provider through both its in-basin transloading terminals and SmartSystemsTM products and services, today announced results for the fourth quarter and full year ended December 31, 2025. "Smart Sand delivered strong results in both the fourth quarter and full year 2025," said Charles Young, Smart Sand's Chief Executive Officer. "The fourth quarter marked our third consecutive quarter with sales volumes exceeding 1.4 million tons. During the quarter we generated more than $20 million in free cash flow and returned approximately $2.0 million to shareholders through dividends. We experienced robust sales activity across our key shale markets, including the Appalachian Basin, the Bakken, and the Montney and Duvernay shales in Canada.""For 2025, we achieved record sales volumes of 5.4 million tons and record free cash flow of approximately $33 million. In 2025, we returned approximately $8 million in capital to our shareholders in dividends and stock buybacks," continued Mr. Young."We remain focused on providing reliable and cost-effective proppant supply chain execution for our customers by being a low-cost supplier of high-quality Northern White sand, supported by our efficient and sustainable logistics network. We continue to expand our Industrial Products Solutions business, with sales volumes increasing by 60% year over year. During 2025 we focused on improving our last mile product offering through modifications to our SmartSystem design, and we expect to have our first reconfigured system utilized in the field during the first quarter of 2026.""Smart Sand is well positioned to benefit from expected growth in natural gas demand driven by expanding LNG export capacity and rising AI-related power demand, given that the Appalachian Basin and Canadian markets we serve are primarily natural gas-focused. In 2026, Smart Sand plans to further strengthen its leading Northern White sand franchise while maintaining a disciplined and consistent capital return strategy," said Mr. Young. "Alongside market share gains in our core frac sand markets, we expect continued strong growth in our Industrial Products Solutions business. We currently expect to be free cash flow positive in 2026 with sales volumes growth in the five to ten percent range."Full Year 2025 HighlightsTotal revenue was $330.2 million for the full year 2025, compared to $311.4 million for the full year of 2024. Sand revenue in 2025 was $325.8 million compared to $303.6 million in 2024. Total revenue and sand revenue increased by 6% and 7%, respectively, year-over-year, as a result of increased sand sales volumes at slightly higher average selling prices.Total tons sold were 5,443,000 for the full year 2025, compared to full year 2024 total tons sold of 5,263,000, a 3% increase year-over-year.SmartSystems revenue was $4.4 million for the year ended 2025, a decline from $7.8 million for the year ended 2024. The decline was due to lower overall utilization of our SmartSystems fleet in 2025.Cost of goods sold for the full year 2025 increased by 10% to $292.3 million, compared to $266.5 million for the full year 2024, primarily reflecting increased costs associated with an increase in sales volumes. The year over year increase was primarily due to increased production, freight and other delivery costs. The increase in freight and other delivery costs was due to the delivery location for frac sand sales and increased volumes through third party terminals.Operating expenses for the year ended 2025 were $42.3 million, which was consistent with full year 2024 operating expenses of $41.8 million. Overall, selling, general and administrative costs increased due to increased wages and a $1.0 million payment to one of our utility providers to support planned growth at our Oakdale facility. The increase in selling, general and administrative costs was partially offset by a decrease in bank and legal fees related to the debt refinancing completed in 2024. The gain on disposal of assets of $0.6 million was primarily related to the sale of vacant land that was part of a previous acquisition. The loss on the disposal of assets of $1.1 million for the year ended December 31, 2024 was primarily related to relocating the Company's last mile equipment manufacturing and maintenance facility from Canada to the United States.Total other expenses for the full year 2025 were $1.1 million, compared to $2.8 million for the full year 2024. The decrease from 2024 to 2025 was due to higher interest expense in 2024 from a higher average debt balance outstanding. Additionally, we recorded a $1.3 million loss on extinguishment of debt for the year ended December 31, 2024.Net income was $1.3 million, or $0.03 per basic and diluted share, for the full year 2025, compared with net income of $3.0 million, or $0.08 per basic and diluted share, for the full year 2024. The decrease in net income is attributable to an increase in volumes sold with slightly increased pricing offset by the increase in cost of goods sold due to increased freight and transloading costs. Additionally, a larger benefit from income taxes was recorded in the current period.Net cash provided by operating activities was $44.1 million for the year ended December 31, 2025, derived from net income of $1.3 million, which includes net non-cash items of $28.4 million and $14.4 million in changes in operating assets and liabilities. The net cash provided by operating activities in 2024 was $17.9 million. The increase in net cash provided by operating activities in 2025, compared to 2024, was driven primarily by stronger collections on accounts receivable following several consecutive quarters of higher sales and a customer prepayment for sand sales for 2026, currently in deferred revenue.Contribution margin was $65.1 million, or $11.96 per ton sold, for the full year 2025, compared to $71.7 million, or $13.62 per ton sold, for the full year 2024. The decrease in overall contribution margin for 2025, as compared to the prior year, was primarily due to the increase in logistics costs due to higher sales volumes, the delivery location of our sales and increased mining and production costs. Adjusted EBITDA was $29.9 million for the full year 2025 compared to Adjusted EBITDA of $38.8 million for the full year 2024. The decrease in Adjusted EBITDA for 2025, as compared to the prior year, was primarily due to higher logistics costs due to the delivery location of frac sand sales and higher mining costs.On November 18, 2025, our Board of Directors declared a special dividend of $0.05 per share of common stock, which was paid on December 16, 2025 to stockholders of record at the close of business on December 2, 2025. The dividend payment returned approximately $2.1 million to our shareholders.On July 23, 2025, our Board of Directors declared a special dividend of $0.10 per share of common stock, which was paid on August 14, 2025 to stockholders of record at the close of business on August 4, 2025. The dividend payment returned approximately $4.4 million to our shareholders.On October 3, 2024, our board of directors also approved an eighteen-month share repurchase program under which the Company may purchase up to $10.0 million of its ordinary shares, (the "Repurchase Program"). Pursuant to the Repurchase Program, we may repurchase our ordinary shares from time to time, in amounts, at prices and at such times as management deems appropriate, subject to market conditions and other considerations. In 2025, we repurchased $2.1 million in ordinary shares.Fourth Quarter 2025 HighlightsTotal revenue was $86.0 million in the fourth quarter of 2025, compared to third quarter of 2025 revenue of $92.8 million. Total revenue decreased 7% sequentially, primarily due to decreased average selling prices. Sand revenue for the third quarter of 2025 also included $4.4 million related to contractual charges for tons sold in excess of certain contractual thresholds in a prior period, which was not recognizable until the current period. Fourth quarter 2025 total revenue decreased by 6% compared to fourth quarter 2024 revenues of $91.4 million. Revenues in the fourth quarter of 2024 included $4.8 million related to contractual charges for tons sold in excess of certain contractual thresholds for the year.Tons sold in the fourth quarter of 2025 were 1,478,000, which is consistent with third quarter 2025 tons sold of 1,472,000. Tons sold in the fourth quarter of 2025 increased by 1% compared to 1,464,000 tons sold in the fourth quarter of 2024.Cost of goods sold in the fourth quarter of 2025 decreased to $74.8 million, compared to $77.8 million in the third quarter of 2025 and $77.9 million in the fourth quarter of 2024. The sequential and year over year decreases were primarily due to decreased freight and delivery costs due to the delivery location of our sales in the fourth quarter.Operating expenses for the fourth quarter of 2025 were $13.9 million, compared to $9.6 million in the third quarter of 2025 and $9.8 million for the fourth quarter 2024. Selling, general and administrative costs increased in the fourth quarter of 2025 due to increased wages of $2.9 million and a $1.0 million payment to one of our utility providers to support planned growth at our Oakdale facility. The increase in selling, general and administrative costs was partially offset by a decrease in bank and legal fees related to the debt refinancing completed in 2024.For the fourth quarter of 2025, the Company had a net income of $1.2 million, or $0.03 per basic and diluted share, compared to net income of $3.0 million, or $0.08 per basic and diluted share, for the third quarter of 2025, and net income of $3.7 million, or $0.10 per basic share and $0.09 per diluted share for the fourth quarter 2024.Net cash provided by operating activities was $22.4 million for the fourth quarter of 2025, derived from net income of $1.2 million, which includes net non-cash items of $6.4 million and $14.9 million in changes in operating assets and liabilities. The net cash provided by operating activities was $18.2 million for the third quarter 2025 and $1.0 million provided in the fourth quarter of 2024. The increase sequentially and year over year was primarily due to an increase in the conversion of our accounts receivables and a customer prepayment for sand sales for 2026, currently in deferred revenue.Contribution margin was $18.0 million, or $12.18 per ton sold, for the fourth quarter of 2025 compared to $21.7 million, or $14.76 per ton sold, for the third quarter of 2025 and $20.2 million, or $13.80 per ton sold, for the fourth quarter of 2024. Adjusted EBITDA was $7.1 million for the fourth quarter of 2025, compared to $13.6 million for the third quarter of 2025 and $11.9 million for the fourth quarter of 2024. Contribution margin and Adjusted EBITDA were lower sequentially primarily due to $4.4 million in revenue in the third quarter of 2025 related to contractual charges for tons sold in excess of certain contractual thresholds in a prior period, which was not recognizable until the third quarter of 2025. Contribution margin and Adjusted EBITDA were lower year over year primarily due to $4.8 million in revenues in the fourth quarter of 2024 related to contractual charges for tons sold in excess of certain contractual thresholds for the year.Capital and LiquidityFor the full year 2025, we had positive free cash flow of $32.5 million, generating $44.1 million in cash flow from operations while spending $11.6 million on capital expenditures. For the fourth quarter of 2025, we had $20.4 million in free cash flow, generating $22.4 million in cash flow from operations and spending $2.0 million on capital expenditures. As of December 31, 2025, we had cash on hand of $22.6 million and $30.0 million in undrawn availability on our existing credit facility.For 2026, we currently expect capital expenditures to be in the $15.0 million to $20.0 million range. Included in 2026 budgeted capital expenditures are approximately $12.0 million in mining expansion and potential terminal investments to support future expected sales growth.New Share Repurchase ProgramOn February 23, 2026, the Company's board of directors approved an additional share repurchase program authorizing the Company to repurchase up to $20.0 million of the Company's outstanding shares of common stock (the "New Repurchase Program"). The New Repurchase Program will take effect on April 4, 2026 after expiration of the Company's current Repurchase Program, and continue through April 3, 2028. The timing, manner, price, and amount of any repurchases under the New Repurchase Program will be determined by the Company at its discretion. Purchases may be effected through open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or other means. The Company is not obligated to repurchase any specific number of shares and the New Repurchase Program may be modified, suspended, or discontinued at any time.Additional InformationIn addition to reviewing this earnings release, investors are invited to view the Company's Financial Statements and Investor Presentations at www.smartsand.com. The Company also welcomes calls or emails to the Company's CFO, Lee Beckelman, with any specific questions.Forward-looking StatementsAll statements in this news release other than statements of historical facts are forward-looking statements that contain our Company's current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "expect," "will," "estimate," "believe" and other similar expressions. Although we believe that the expectations reflected and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements.Factors that could cause our actual results to differ materially from the results contemplated by such forward-looking statements include, but are not limited to, fluctuations in product demand, regulatory changes, adverse weather conditions, increased fuel prices, higher transportation costs, access to capital, increased competition, continued effects of the global pandemic, changes in economic or political conditions, and such other factors discussed or referenced in the "Risk Factors" section of our Company's Form 10-K for the year ended December 31, 2025, to be filed by us with the U.S. Securities and Exchange Commission on February 26, 2026.You should not place undue reliance on our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.About Smart SandSmart Sand is a fully integrated frac and industrial sand supply and services company, offering complete mine to wellsite proppant and logistics solutions to our frac sand customers, and a broad offering of products for industrial sand customers. The Company produces low-cost, high quality Northern White sand, which is a premium sand used as a proppant to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company's sand is also a high-quality product used in a variety of industrial applications, including glass, foundry, building products, filtration, geothermal, renewables, ceramics, turf & landscaping, retail and recreation. The Company offers logistics solutions to our customers through its in-basin transloading terminals and SmartSystemsTM wellsite storage and sand management capabilities. Smart Sand owns and operates premium sand mines and related processing facilities in Wisconsin and Illinois, which have access to four Class I rail lines, allowing the Company to deliver products substantially anywhere in the United States and Canada. For more information, please visit www.smartsand.com. Availability of Information on Smart Sand's WebsiteWe routinely announce material information using U.S. Securities and Exchange Commission filings, press releases, public conference calls and webcasts and the Smart Sand investor relations website. While not all of the information that we post to the Smart Sand investor relations website is of a material nature, some information could be deemed to be material. Accordingly, we encourage investors, the media, and others interested in Smart Sand to review the information that we share at the "Investors" link located at the top of the page on www.smartsand.com. SMART SAND, INC.CONSOLIDATED STATEMENTS OF OPERATIONS Three Months EndedDecember 31, 2025September 30, 2025December 31, 2024(unaudited)(unaudited)(unaudited)(in thousands, except per share amounts)Revenues: Sand revenue$ 85,065$ 91,643$ 90,619 SmartSystems revenue9801,137744 Total revenue86,04592,78091,363Cost of goods sold: Sand cost of goods sold73,71476,76675,342 SmartSystems cost of goods sold1,1071,0792,569 Total cost of goods sold74,82177,84577,911Gross profit11,22414,93513,452Operating expenses: Selling, general and administrative13,0859,0869,237 Depreciation and amortization578589618 (Gain) loss on disposal of fixed assets, net264(110)(7)Total operating expenses13,9279,5659,848Operating income (loss)(2,703)5,3703,604Other (expenses) income: Interest expense, net(491)(320)(543) Other income12028134 Total other (expenses) income, net(371)(292)(409)Income (loss) before income tax (benefit) expense(3,074)5,0783,195 Income tax (benefit) expense(4,252)2,076(541)Net income$ 1,178$ 3,002$ 3,736Net income per common share: Basic$ 0.03$ 0.08$ 0.10Full story available on Benzinga.com

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australianherald38d ago

Australia: Still a client state in a corporate empire

From British imperial control to multinational corporate dominance, Australias economic independence remains more illusion than reality. DrEvan Jonescontinues his three-part series read part onehere.CONVICTS, whaling/sealing, wool and gold beganWhite Australia. Mid-century gold brought a dramatically enhanced immigrant population and urbanisation.There developed pressure to enhance a domestic manufacturin

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benzinga38d ago

Highlander Silver and Bear Creek Mining Complete Business Combination

All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.TORONTO, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Highlander Silver Corp. (TSX:HSLV) ("Highlander Silver") and Bear Creek Mining Corporation (TSXV:BCM) (OTCQX:BCEKF) (BVL: BCM) ("Bear Creek") are pleased to announce the successful completion of the previously announced plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia) (the "Arrangement") and the concurrent closing of the debt settlement agreements (the "Debt Settlement Agreements") between Highlander Silver and each of Royal Gold, Inc., through its wholly-owned subsidiary, International Royalty Corporation, ("Royal Gold") and Equinox Gold Corp. ("Equinox").Pursuant to the Arrangement, Highlander Silver acquired all of the issued and outstanding common shares of Bear Creek (the "Bear Creek Shares") in exchange for 0.1175 common shares in the capital of Highlander Silver (the "Highlander Shares") for each Bear Creek Share held immediately prior to the effective time of the Arrangement (the "Consideration").In connection with the closing of the Debt Settlement Agreements, Highlander Silver paid cash consideration in the amounts of US$6.2 million to Royal Gold and US$1.6 million to Equinox. Concurrently with the closing of the Arrangement and the Debt Settlement Agreements, Highlander Silver repaid the advance and outstanding interest owed to Wheaton Precious Metals International Ltd. ("Wheaton") pursuant to the support agreement dated November 22, 2022, as amended, between Bear Creek and Wheaton.As a result of the completion of the Arrangement, the Bear Creek Shares are expected to be delisted from the TSX Venture Exchange on or about March 2, 2026 (the "Delisting"). Bear Creek has notified OTC Markets Group and the Bolsa Valores de Lima ("BVL") of its intent to voluntarily withdraw its securities from the OTCQX trading platform and the BVL exchange. In connection with the Delisting, Bear Creek will also submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations in Canada. Further details regarding the Arrangement are set out in Bear Creek's management information circular dated January 16, 2026, 2026, (the "Circular") a copy of which is available under Bear Creek's issuer profile on SEDAR+ at www.sedarplus.ca.Bear Creek Shareholders are reminded to review the Circular in respect of the procedure for receiving the Consideration for their Bear Creek Shares. Registered shareholders (Bear Creek Shares held in physical form or a direct registration system ("DRS") advice) must complete, sign and return the letter of transmittal, along with their share certificate(s) or DRS advice(s), to Endeavor Trust Corporation, the depositary for the Arrangement. Non-registered shareholders (Bear Creek Shares held with a broker, bank or other intermediary) should contact their intermediaries for instructions and assistance in receiving the Consideration for such Bear Creek Shares. The letter of transmittal is available at https://bearcreekmining.com/investors/shareholder-meetings/ or under Bear Creek's profile on SEDAR+ (www.sedarplus.ca).Early Warning Disclosure – Highlander Pursuant to the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 ...Full story available on Benzinga.com

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