CRR - U.S. Silica's Recent Call Strengthens Frac Sand Thesis
U.S. Silica (SLCA) reported another blowout quarter, with revenues of $427.4 million, which increased 16% quarter over quarter, and adjusted EBITDA of $123.6 million. The company cited stronger pricing in oil & gas and ISP segments (double digit growth is occurring in industrial volumes), last mile solutions with Sandbox, and a strengthening contract position, as the reasons for the sharp increases in revenue.
Cash flow suffered as volumes ramped, but the company expects to be cash flow positive by the end of the year. Plus, when combining strong fundamentals with SLCA's income statements