Carbo announced fourth-quarter earnings per share of 90 cents, which surpassed the consensus estimate of 81 cents. Revenues increased 7.1% year-over-year to $164.5 million, which beat analysts' expectations of $162.24 million. The company also set a record for ceramic proppant values in 2013, with 1.7 billion pounds, according to the company's statement.
"We finished the year on a strong note," said CEO Gary Kolstad in the statement. "Activity rebounded in December after heavy rains and icy weather hampered sales volumes in both the Eagle Ford and the Permian during the early part of the fourth quarter. Although the marketplace remains competitive, our proppant pricing was stable when compared to the third quarter of 2013.
TheStreet Ratings team rates CARBO CERAMICS INC as a "buy" with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CARBO CERAMICS INC (CRR) a BUY. This is driven by some important positives, 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, largely solid financial position with reasonable debt levels by most measures, increase in net income, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."