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U.S. Silica (SLCA) Wraps Up $100 Million Loan Repurchase
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U.S. Silica Holdings, Inc. (SLCA - Free Report) completed a $100-million voluntary term loan principal repayment. The debt was retired at a discount to par, utilizing excess cash on hand.
U.S. Silica stated that it is pleased to use a portion of its cash flow from very strong business performance to deliver on its commitment to strengthen the balance sheet and improve its leverage profile.
It continues to see strong performance across both of its business segments. The company is focused on executing a long-term strategy to create shareholder value by generating free cash flow, lowering balance sheet leverage and investing in high-return industrial growth projects, the company noted.
Shares of U.S. Silica have dropped 7.7% in the past year against a 27.4% decline of the industry.
Image Source: Zacks Investment Research
In its last earnings call, the company stated that for the second quarter and the second half of 2022, two business segments are well-positioned for contribution margin expansion and growth in their respective markets. SLCA 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 and pricing increases and surcharges, the company noted.
In the Oil & Gas segment, the company expects a multi-year growth cycle. The strength in commodity prices, especially WTI crude oil and natural gas prices and consumer spending increase support active well completions in 2022.
The company is focused on delivering free cash flow in 2022, deleveraging its balance sheet and intends to be operating cash flow positively in 2022.
U.S. Silica currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Albemarle Corporation (ALB - Free Report) , Cabot Corporation (CBT - Free Report) and Allegheny Technologies Inc. (ATI - Free Report) .
Albemarle has a projected earnings growth rate of 231.7% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 17.9% upward in the past 60 days.
Albemarle’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 22.5%, on average. ALB has gained around 7.3% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 22.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 6% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 14.3% over a year.
Allegheny has a projected earnings growth rate of 1,046.2% for the current year. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 15.5% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 128.9%. ATI has gained 7.7% in a year. The company sports a Zacks Rank #1.
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U.S. Silica (SLCA) Wraps Up $100 Million Loan Repurchase
U.S. Silica Holdings, Inc. (SLCA - Free Report) completed a $100-million voluntary term loan principal repayment. The debt was retired at a discount to par, utilizing excess cash on hand.
U.S. Silica stated that it is pleased to use a portion of its cash flow from very strong business performance to deliver on its commitment to strengthen the balance sheet and improve its leverage profile.
It continues to see strong performance across both of its business segments. The company is focused on executing a long-term strategy to create shareholder value by generating free cash flow, lowering balance sheet leverage and investing in high-return industrial growth projects, the company noted.
Shares of U.S. Silica have dropped 7.7% in the past year against a 27.4% decline of the industry.
Image Source: Zacks Investment Research
In its last earnings call, the company stated that for the second quarter and the second half of 2022, two business segments are well-positioned for contribution margin expansion and growth in their respective markets. SLCA 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 and pricing increases and surcharges, the company noted.
In the Oil & Gas segment, the company expects a multi-year growth cycle. The strength in commodity prices, especially WTI crude oil and natural gas prices and consumer spending increase support active well completions in 2022.
The company is focused on delivering free cash flow in 2022, deleveraging its balance sheet and intends to be operating cash flow positively in 2022.
U.S. Silica Holdings, Inc. Price and Consensus
U.S. Silica Holdings, Inc. price-consensus-chart | U.S. Silica Holdings, Inc. Quote
Zacks Rank & Key Picks
U.S. Silica currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Albemarle Corporation (ALB - Free Report) , Cabot Corporation (CBT - Free Report) and Allegheny Technologies Inc. (ATI - Free Report) .
Albemarle has a projected earnings growth rate of 231.7% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 17.9% upward in the past 60 days.
Albemarle’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 22.5%, on average. ALB has gained around 7.3% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 22.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 6% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 14.3% over a year.
Allegheny has a projected earnings growth rate of 1,046.2% for the current year. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 15.5% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 128.9%. ATI has gained 7.7% in a year. The company sports a Zacks Rank #1.