CARBO Ceramics (NYS: CRR) is up big since reporting earnings last week, despite falling slightly short of last year's Q3 results. Sales are down, but only 3% year over year. This outcome was to be expected, considering that CARBO's total number of land rigs is down 10%, with natural gas rigs almost at a 14-year low. Furthermore, more than 20% of revenue comes from Schlumberger (NYS: SLB) and Halliburton (NYS: HAL) , both of which reported recently and revealed North America as the location of their most significant slowdowns.
While none of this comes as a huge surprise, the big story out of CARBO's earnings report is its international sales surge, up a staggering 33%. Many are moving away from Chinese Intermediate Density Ceramic, the lower-quality "generic" alternative, in favor of CARBO Ceramics, which shows that the company's branding is paying off in a major way. Check out the following video for details on the full story, including what to expect from CARBO going forward.
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The article CARBO Ceramics Up Big originally appeared on Fool.com.
Joel South owns shares of Schlumberger and Halliburton. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of CARBO Ceramics, Halliburton, and Heckmann and has options on Heckmann. Motley Fool newsletter services recommend Halliburton. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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