U.S. Silica Beats by a Penny
Silica proppant maker U.S. Silica reported third-quarter results today after the markets closed, showing that it posted net revenues of $144.4 million, a robust 25% increase from the same period in the previous year and just ahead of the $140.3 million Capital IQ consensus estimate.
While adjusted net income came in at $21.3 million, or $0.42 per share (minus a onetime charge for the early extinguishment of debt), ahead of the $18.8 million, or $0.36 per share, in the same period in 2012, it was $0.01-per-share better than the CapIQ estimates of $0.41 per share.
U.S. Silica says most of the gains it made came in the oil and gas market, where segment revenues surged 46% ahead of last quarter. The industrial and specialty products segment saw revenues ease back 2% due to lower volumes.
The proppant maker didn't provide guidance for the coming quarter, but analysts anticipate U.S. Silica to post earnings of $0.44 per share in the fourth quarter on revenues of $144.7 million.
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