U.S. Silica Holdings, Inc. (SLCA - Free Report) announced that it has entered into an amended and restated $1.1 billion credit agreement. This credit facility includes a $950 million senior secured term loan B due March 2030. SLCA has also raised its revolving credit facility from $100 million to $150 million, due March 2028. The company has employed the net proceeds from the term loan and excess cash on the balance sheet to pay off $109 million in outstanding debt and related refinancing fees.
The company stated that it is delighted to reinstate its debt prior to its maturity, enabling it to further strengthen its balance sheet while improving its leverage profile. This transaction has brought total long-term debt paid off to more than $250 million in the last nine months. The company remains committed to generating strong earnings and cash flow, which will provide an opportunity to further reduce debt and enable it to invest in the growth of its Industrial and Specialty Products segment.
Shares of U.S. Silica have lost 38.9% over the past year compared with a 28.5% fall recorded by its industry.
The company, on its fourth quarter call, said that it has a strong portfolio of Industrial and Specialty Products that serve several essential, high-growth and attractive end markets, backed by a strong pipeline of new products under development. It also expects growth in its underlying base business, along with pricing hikes and surcharges, to continue combating inflationary impacts. In its Oil & Gas segment, the company expects a multi-year growth cycle.
U.S. Silica Holdings, Inc. Price and Consensus
Zacks Rank & Key Picks
U.S. Silica currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are ATI Inc. (ATI - Free Report) , Olympic Steel, Inc. (ZEUS - Free Report) and Cal-Maine Foods, Inc. (CALM - Free Report) . ATI currently carries a Zacks Rank #2 (Buy), while ZEUS and CALM sport a Zacks Rank #1(Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ATI’s shares have gained 35.3% in the past year. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 1.9% upward in the past 60 days. The company has an earnings growth rate of 9% for the current year.
ATI topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.4% on average.
Olympic Steel’s shares have gained 32.5% in the past year. The Zacks Consensus Estimate for ZEUS’ current-year earnings has been revised 61% upward in the past 60 days. It topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 26.2% on average.
Cal-Maine’s shares have gained 7.1% in the past year. The company has an earnings growth rate of 499.2% for the current year. The Zacks Consensus Estimate for CALM’s current-year earnings has been revised 16% upward in the past 60 days.
CALM topped Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 15.3% on average.
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U.S. Silica Holdings, Inc. (SLCA - Free Report) announced that it has entered into an amended and restated $1.1 billion credit agreement. This credit facility includes a $950 million senior secured term loan B due March 2030. SLCA has also raised its revolving credit facility from $100 million to $150 million, due March 2028. The company has employed the net proceeds from the term loan and excess cash on the balance sheet to pay off $109 million in outstanding debt and related refinancing fees.
The company stated that it is delighted to reinstate its debt prior to its maturity, enabling it to further strengthen its balance sheet while improving its leverage profile. This transaction has brought total long-term debt paid off to more than $250 million in the last nine months. The company remains committed to generating strong earnings and cash flow, which will provide an opportunity to further reduce debt and enable it to invest in the growth of its Industrial and Specialty Products segment.
Shares of U.S. Silica have lost 38.9% over the past year compared with a 28.5% fall recorded by its industry.
The company, on its fourth quarter call, said that it has a strong portfolio of Industrial and Specialty Products that serve several essential, high-growth and attractive end markets, backed by a strong pipeline of new products under development. It also expects growth in its underlying base business, along with pricing hikes and surcharges, to continue combating inflationary impacts. In its Oil & Gas segment, the company expects a multi-year growth cycle.
U.S. Silica Holdings, Inc. Price and Consensus
Zacks Rank & Key Picks
U.S. Silica currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are ATI Inc. (ATI - Free Report) , Olympic Steel, Inc. (ZEUS - Free Report) and Cal-Maine Foods, Inc. (CALM - Free Report) . ATI currently carries a Zacks Rank #2 (Buy), while ZEUS and CALM sport a Zacks Rank #1(Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ATI’s shares have gained 35.3% in the past year. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 1.9% upward in the past 60 days. The company has an earnings growth rate of 9% for the current year.
ATI topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.4% on average.
Olympic Steel’s shares have gained 32.5% in the past year. The Zacks Consensus Estimate for ZEUS’ current-year earnings has been revised 61% upward in the past 60 days. It topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 26.2% on average.
Cal-Maine’s shares have gained 7.1% in the past year. The company has an earnings growth rate of 499.2% for the current year. The Zacks Consensus Estimate for CALM’s current-year earnings has been revised 16% upward in the past 60 days.
CALM topped Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 15.3% on average.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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