Sign In  |  Register  |  About San Rafael  |  Contact Us

San Rafael, CA
September 01, 2020 1:37pm
7-Day Forecast | Traffic
  • Search Hotels in San Rafael

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

U.S. Silica (NYSE: SLCA) Reports Strong Second Quarter 2022 Results Showing 27% Revenue Growth and Adjusted EBITDA Gains of 77%

U.S. Silica Holdings, Inc. (NYSE: SLCA) is engaged as a global industrial minerals company, which is focused as a leading producer of commercial silica for use in oil & gas and industrial applications. Shares of the minerals company are gaining 21% through early trading on Friday, July 29, 2022. Over the past three months, U.S. Silica has seen average daily volume of 1.14 million shares. However, volume of 1.3 million shares or dollar volume of around $19.4 million, has already exchanged hands through early trading.

Shares of U.S. Silica are rallying after the company reported second quarter 2022 financial results. The industrial minerals company reported total revenue of $388.5 million, which was an increase of 27% compared to the first quarter of 2022. Adjusted EBITDA came in at $93.8 million for Q2, which was an impressive increase of 77% compared to Q1 2022. On the bottom line, U.S. Silica reported net income of $22.9 million or $0.29 per diluted share.

The company’s oil & gas and industrial businesses both performed very well during the second quarter of 2022. The oil & gas business saw its contribution margins increase 73%, as its industrial segment saw contribution margins grow 21%. U.S. Silica used the strong quarter to repurchase $100 million of its debt at a discount using its on-hand cash during July 2022.

Management continues to see a strong outlook for both its business segments for the third quarter and second-half of 2022. Strong demand for its products are estimated to continue, even despite pricing increases and surcharges on its products to account for inflation.

Bryan Shinn, Chief Executive Officer of U.S. Silica: “We delivered an exceptional second quarter with outstanding sales volume, revenue, earnings and cash generation across the company.  By capitalizing on the strength in our underlying markets and improved operational efficiencies, we generated a 77% sequential increase in adjusted EBITDA, and $88 million of cash flow from operations.  We continued to experience robust customer demand during the quarter and implemented numerous price increases and surcharges across both business units to fight inflationary impacts. In addition, I am extremely proud of our organization’s execution during the second quarter as we creatively improved international logistics performance, increased plant outputs and delivered world class safety performance.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

The post U.S. Silica (NYSE: SLCA) Reports Strong Second Quarter 2022 Results Showing 27% Revenue Growth and Adjusted EBITDA Gains of 77% appeared first on Spotlight Growth.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SanRafael.com & California Media Partners, LLC. All rights reserved.