U.S. Silica Holdings, Inc. (SLCA - Free Report) is a leading producer of commercial silica used in the oil and gas industry as well as in a vast spectrum of industrial applications.
U.S. Silica’s adjusted earnings for the second quarter came in at 64 cents per share. It missed the Zacks Consensus Estimate of 69 cents.
U.S. Silica reported revenues of $427.4 million, up around 47% year over year. The figure however, missed the Zacks Consensus Estimate of $440.8 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for U.S. Silica for the second quarter has been stable over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters while missing once, with an average beat of around 5.9%.
Key Developments to Note
U.S. Silica expects its capital expenditures for 2018 to be roughly $350 million.
For the third quarter, the company expects volumes in the Oil & Gas segment to rise in the range of 20-25% as it ramps up new capacity in West Texas and also brings Brownfield expansion projects online.
U.S. Silica expects strong performance and improved volumes for Sandbox in the third quarter as it continues to add crews.
For the ISP unit, the company expects sequential increases in pricing and margins on the back of strategic price increases implemented during second quarter and a full quarter of results from EP Minerals.
Currently, U.S. Silica has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
U.S. Silica’s shares were down 0.5% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on U.S. Silica’s earnings report!
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