U.S. Silica Holdings Q3 Profit Misses Estimates; Revenue Down 12%

(RTTNews) - U.S. Silica Holdings, Inc. (SLCA) reported third quarter net income of $26.9 million, or $0.34 per share. This is compared to net income of $32.1 million or $0.41 per share, last year. The company noted that its third quarter results were impacted by $3.8 million pre-tax, or $0.04 per share after-tax, of charges primarily related to a non-recurring adjustment to depreciation and the loss on extinguishment of debt. Adjusted EPS was $0.38 compared to $0.43. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.41, for the quarter. Analysts' estimates typically exclude special items.

Third quarter revenue was $367.0 million, down 12% from prior year. As of September 30, 2023, the company had $222.4 million in cash and cash equivalents and total debt of $867.6 million.

The company reaffirmed full year 2023 financial guidance. The company expects to produce significant operating cash flow in 2023, and projects investing at the high-end of capital expenditures guidance ranging between $60-$65 million for the year. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.