NEW YORK (TheStreet) --Shares of U.S. Silica Holdings Inc. (SLCA) - Get Report are down by 6.18% to $28.69 in mid-morning trading on Wednesday, after the industrial minerals producer reported its 2014 fourth quarter earnings results which fell short of what analysts had estimated for the period.
For the most recent quarter U.S. Silica Holdings said its adjusted earnings were 72 cents per share compared to the 74 cents per share analysts had forecast for the quarter.
The company said the quarter was "negatively impacted by a meaningful increase in bad debt expense of $6.9 million mostly related to the company's assessment of a certain customer's ability to pay its obligation to the company."
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Revenue for the latest quarter was $249.6 million, a 67% increase over the 2013 fourth quarter. U.S. Silica Holdings' revenue for the quarter was in line with what analysts were anticipating.
"We expect 2015 to be a challenging year in light of lower oil prices but we have built our business and our balance sheet to capitalize on this type of market environment. Ultimately, I believe U.S. Silica will emerge as an even stronger company once oil and gas markets recover," company CEO Bryan Shinn said in a statement.
Separately, TheStreet Ratings team rates U S SILICA HOLDINGS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate U S SILICA HOLDINGS INC (SLCA) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, good cash flow from operations, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
You can view the full analysis from the report here: SLCA Ratings Report