Fairmount Santrol Q3 Profit Rises, Revenue Up 41% - Quick Facts

(RTTNews) - Fairmount Santrol (FMSA) Tuesday said third-quarter net income increased to $54.1 million, or $0.32 per share from $24.75 million, or $0.15 per share for the same period a year ago.

Adjusted earnings per share were $0.35, while it totaled $0.23 last year. On average, six analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

According to the company, the increase in earnings was primarily due to a 37 percent increase in raw sand proppant volumes and a 51 percent increase in coated proppant volumes.

Revenue climbed 41 percent to $373.5 million from $265.7 million for the same period last year. Analysts expected revenues of $331.73 million.

The company provides sand-based proppant products to oil and gas, and industrial and recreational markets in the United States and internationally.

The revenue increase was primarily due to increased sales volumes in the company's Proppant Solutions segment.

For full-year 2014, the company expects to report adjusted EBITDA in the range of $390 million to $395 million, compared to $293 million reported in 2013.