Stock Monitor: Platinum Group Metals Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 15, 2017 / Active-Investors free earnings report on US Silica Holdings, Inc. (NYSE: SLCA) ("US Silica") has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=SLCA. The Company reported its third quarter fiscal 2017 operating results on November 03, 2017. The commercial silica producer outperformed top- and bottom-line expectations. Register today and get free access to our complimentary member's area where many more reports are available:
Active-Investors.com is currently working on the research report for Platinum Group Metals Ltd (NYSE AMER: PLG), which also belongs to the Basic Materials sector as the Company US Silica. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, US Silica Holdings most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
Earnings Highlights and Summary
US Silica's revenue soared 151% to $345 million in Q3 2017 compared to $137.7 million for Q3 2016. The Company's revenue numbers exceeded analysts' expectations of $328.6 million.
During Q3 2017, US Silica's overall tons sold totaled 4.08 million, up 63% compared to 2.49 million tons sold in Q3 2016. The Company's contribution margin was $120.1 million for the reported quarter, up 510% compared to $19.7 million in the year ago same period. The Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was $96.7 million for Q3 2017 compared to $8.3 million in Q3 2016.
US Silica reported a net income of $41.3 million, or $0.51 per basic share, or $0.50 per diluted share, for Q3 2017 compared to a net loss of $11.3 million, or $0.17 per diluted share, for Q3 2016. The Company's reported quarter results were negatively impacted by $2.4 million in business development related expenses. Excluding this expense, net of the $0.9 million tax effect, US Silica's earnings per share (EPS) was $0.53 per basic share for Q3 2017, beating Wall Street's estimates of $0.49 per share.
During Q3 2017, US Silica's Oil and Gas segment's revenue totaled $286.4 million compared to $86.8 million for Q3 2016, up 230% on a y-o-y basis.
For Q3 2017, the Oil and Gas segment's tons sold totaled 3.15 million, reflecting an increase of 95% over the 1.62 million tons sold in Q3 2016. Out of the overall tons sold, 66% tons sold were in basin in the reported quarter compared to 62% sold in basin in Q2 2017. For Q3 2017, the segment's contribution margin was $96.1 million versus a loss of $1.9 million in Q3 2016.
During Q3 2017, US Silica's Industrial and Specialty Products segment's revenue jumped 15% to $58.7 million on a y-o-y basis in Q3 2017. The segment's tons sold totaled 0.93 million, up 6% over the 0.88 million tons sold in Q3 2016. The segment's contribution margin was $24 million in the reported quarter compared to $21.6 million in Q3 2016, reflecting an increase of 11% on a y-o-y basis.
Capital Update and Share Repurchase Plan
As of September 30, 2017, US Silica had $463.7 million in cash and cash equivalents, and $45.2 million available under its credit facilities. The Company's total debt at September 30, 2017, was $511.3 million. US Silica's capital expenditure totaled $130.7 million in Q3 2017, associated largely with the Company's growth projects, and other maintenance and cost improvement capital projects.
Subsequent to the end of Q3 2017, US Silica's Board of Directors approved a new share repurchase plan to repurchase up to $100 million of the Company's common stock. Commenting on the action, Bryan A. Shinn, President, Chief Executive Officer, and Director of US Silica, noted that: "US Silica is the only Company in the sand space".
Outlook and Guidance
US Silica is forecasting capital expenditure to be approximately $375 million for the full fiscal year 2017.
For the fourth quarter of the fiscal year 2017, the Company expects sand volumes to be up in the Oil and Gas segmen but perhaps restrained by some frac crews extending their holiday time off, plant downtime due to planned maintenance, and brief outages for capacity expansion work at a few mines.
For 2018, US Silica expects another strong year, driven by a record demand for frac sand, increased opportunities for Sandbox, and an increased market penetration for some of ISP's new, higher margin products. The Company expects to invest significantly in Sandbox, and is targeting to have over 100 crews online exiting 2018.
Stock Performance Snapshot
December 14, 2017 - At Thursday's closing bell, US Silica Holdings' stock advanced 1.59%, ending the trading session at $34.45.
Volume traded for the day: 1.93 million shares.
Stock performance in the last month – up 1.65%; previous three-month period – up 19.58%; and past six-month period – up 1.53%
After yesterday's close, US Silica Holdings' market cap was at $2.79 billion.
Price to Earnings (P/E) ratio was at 42.90.
The stock has a dividend yield of 0.73%.
The stock is part of the Basic Materials sector, categorized under the Industrial Metals & Minerals industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.