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U.S. Silica +9% on Q3 beat with contract interest at 'all-time high'

Published 11/07/2017, 03:41 PM
© Reuters.  U.S. Silica +9% on Q3 beat with contract interest at 'all-time high'
SLCA
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  • U.S. Silica (SLCA +9%) surges as much as 13% after beating Q3 earnings expectations and racking up a 150% Y/Y revenue increase, driven by strong demand in its oil and gas business and record profitability from the industrial and specialty products segment.
  • SLCA says overall tons sold during Q3 slightly exceeded 4M, up 63% Y/Y and 12% Q/Q.
  • SLCA expects FY 2017 capex will come in at the high end of earlier guidance of ~$375M.
  • With contract interest at "an all-time high," SLCA anticipates another strong year in 2018, driven by record demand for frac sand, increased opportunities for Sandbox and increased market penetration for new higher margin products in industrial and specialty products.
  • Now read: Kirkland Lake Gold: Top Gold Stock For 2017 Update


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