U.S. Silica reported earnings of 8 cents a share for the second quarter, above analysts' estimates of 7 cents a share. Revenue fell 28.3% year over year to $147.5 million, missing analysts' estimates of $156.07 million.
The company sold 2.3 million tons of silica in the second quarter, down 13% from 2.6 million in the year-ago quarter, and down 15% sequentially.
"Our Industrial segment produced double digit bottom line growth, and we grew share in our Oil and Gas segment while making the tough decisions necessary to reduce costs across the Company," President and CEO Bryan Shinn said in a statement. "Looking ahead at our Oil and Gas business, we believe sales volumes are stabilizing but pricing is likely to remain fluid in the near-term."
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 few notable 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 revenue growth, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: SLCA Ratings Report