We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
U.S. Silica (SLCA) Earnings & Sales Beat Estimates in Q1
Read MoreHide Full Article
U.S. Silica Holdings, Inc. (SLCA - Free Report) reported a net loss of $20.8 million or 28 cents per share in first-quarter 2021, narrower than a net loss of $72.3 million or 98 cents per share in the year-ago quarter.
Barring one-time items, adjusted loss per share was 27 cents that was narrower than the Zacks Consensus Estimate of a loss of 30 cents.
U.S. Silica generated revenues of $234.4 million, down 13% year over year. However, the figure surpassed the Zacks Consensus Estimate of $216.2 million.
U.S. Silica Holdings, Inc. Price, Consensus and EPS Surprise
Revenues in the Oil & Gas division amounted to $121.7 million in the first quarter, down 22% year over year and remained flat sequentially. Overall sales volume increased 36% year over year to 2.577 million tons. Oil & Gas contribution margin fell 58% sequentially and declined 35% year over year to $21.5 million or $8.36 per ton.
Revenues in the Industrial & Specialty Products division amounted to $112.7 million in the first quarter, up 5% year over year. Overall sales volume increased 6% year over year to 0.984 million tons. The segment’s contribution margin was $40 million or $40.69 per ton in the quarter, up 4% sequentially and down 8% year over year.
Financials
At the end of the quarter, the company’s cash and cash equivalents were $154.4 million, up 2.3% sequentially. Long-term debt remained flat sequentially at $1,196.6 million.
Outlook
For 2021 and beyond, U.S. Silica predicts a sustainable long-term growth. It is focused on prioritizing free cash flow, repositioning its Oil & Gas segment and expanding the Industrial and Specialty Products segment.
The company expects The Industrial & Specialty Products segment growth to outpace U.S. GDP. The company expects contribution margin of the segment to increase 5-10% sequentially in the second quarter.
In the Oil & Gas segment, the company expects a strong energy recovery as economic activity rebounds and gains momentum. For the second quarter, contribution margin is projected to increase 30-35%.
The company plans to deliver positive cash flow in 2021 and deleverage its balance sheet.
Price Performance
Shares of U.S. Silica have rallied 323.3% in the past year versus 59.6% rise of the industry.
Zacks Rank & Other Key Picks
U.S. Silica currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are Dow Inc.DOW, Nucor CorporationNUE and Impala Platinum Holdings LimitedIMPUY.
Dow has a projected earnings growth rate of roughly 261.5% for the current year. The company’s shares have surged 93.5% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nucor has an expected earnings growth rate of around 228.4% for the current year. The company’s shares have gained 110.3% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have skyrocketed 242.5% in the past year. It currently flaunts a Zacks Rank #1.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
U.S. Silica (SLCA) Earnings & Sales Beat Estimates in Q1
U.S. Silica Holdings, Inc. (SLCA - Free Report) reported a net loss of $20.8 million or 28 cents per share in first-quarter 2021, narrower than a net loss of $72.3 million or 98 cents per share in the year-ago quarter.
Barring one-time items, adjusted loss per share was 27 cents that was narrower than the Zacks Consensus Estimate of a loss of 30 cents.
U.S. Silica generated revenues of $234.4 million, down 13% year over year. However, the figure surpassed the Zacks Consensus Estimate of $216.2 million.
U.S. Silica Holdings, Inc. Price, Consensus and EPS Surprise
U.S. Silica Holdings, Inc. price-consensus-eps-surprise-chart | U.S. Silica Holdings, Inc. Quote
Segment Highlights
Revenues in the Oil & Gas division amounted to $121.7 million in the first quarter, down 22% year over year and remained flat sequentially. Overall sales volume increased 36% year over year to 2.577 million tons. Oil & Gas contribution margin fell 58% sequentially and declined 35% year over year to $21.5 million or $8.36 per ton.
Revenues in the Industrial & Specialty Products division amounted to $112.7 million in the first quarter, up 5% year over year. Overall sales volume increased 6% year over year to 0.984 million tons. The segment’s contribution margin was $40 million or $40.69 per ton in the quarter, up 4% sequentially and down 8% year over year.
Financials
At the end of the quarter, the company’s cash and cash equivalents were $154.4 million, up 2.3% sequentially. Long-term debt remained flat sequentially at $1,196.6 million.
Outlook
For 2021 and beyond, U.S. Silica predicts a sustainable long-term growth. It is focused on prioritizing free cash flow, repositioning its Oil & Gas segment and expanding the Industrial and Specialty Products segment.
The company expects The Industrial & Specialty Products segment growth to outpace U.S. GDP. The company expects contribution margin of the segment to increase 5-10% sequentially in the second quarter.
In the Oil & Gas segment, the company expects a strong energy recovery as economic activity rebounds and gains momentum. For the second quarter, contribution margin is projected to increase 30-35%.
The company plans to deliver positive cash flow in 2021 and deleverage its balance sheet.
Price Performance
Shares of U.S. Silica have rallied 323.3% in the past year versus 59.6% rise of the industry.
Zacks Rank & Other Key Picks
U.S. Silica currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are Dow Inc. DOW, Nucor Corporation NUE and Impala Platinum Holdings Limited IMPUY.
Dow has a projected earnings growth rate of roughly 261.5% for the current year. The company’s shares have surged 93.5% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nucor has an expected earnings growth rate of around 228.4% for the current year. The company’s shares have gained 110.3% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have skyrocketed 242.5% in the past year. It currently flaunts a Zacks Rank #1.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>