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.
The article U.S. Silica Beats by a Penny originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.