What happened

Shares of Smart Sand Inc. (NASDAQ:SND) rallied more than 11% by 2:45 p.m. EDT on Thursday after posting strong second-quarter results.

So what

Smart Sand's revenue rocketed 83% year over year, and 28% sequentially, to $54.5 million, which beat the consensus estimate by $1.1 million. Earnings, likewise, came in ahead of analysts' expectations as the frack sand producer posted $10 million in net income, or $0.25 per share, $0.03 ahead of the consensus. Driving the company's strong showing was a 16% increase in volume to 839,00 tons, the highest level in the company's history.

A shovel filled with sand from a big pile.

Image source: Getty Images.

The second quarter was also important strategically. CEO Charles Young noted that the company "completed our nameplate capacity expansion at our Oakdale facility and expanded our logistics capabilities through the acquisition of Quickthree Solutions Inc., a maker of portable frack sand storage solutions."

Meanwhile, he noted that the company continues "to see new customer interest for our high-quality Northern White sand from [exploration and production] companies that see benefits in well performance from using Northern White Sand over regional sand."

Now what

Smart Sand did a good job redeeming itself after a lousy first quarter. Furthermore, it strengthened its strategic position by finishing the Oakdale expansion and completing the Quickthree acquisition, which positions it to better serve the growing needs of its customers. Those factors, when combined with strong oil pricing, position the company for continued growth in the coming quarters.

Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.