U.S. Silica (SLCA) Reports In-Line Q1 EPS

U.S. Silica (NYSE: SLCA) reported Q1 EPS of $0.40, in-line with the analyst estimate of $0.40. Revenue for the quarter came in at $204 million versus the consensus estimate of $202.72 million.

"I am very proud of our performance in the quarter against the backdrop of rapidly falling oil prices and declining rig count. Our results demonstrate the strength of our business model, assets, team and customer base," said Bryan Shinn, president and chief executive officer. "However, given the magnitude of the reduction in drilling and completions activity, we expect that volumes and pricing of frac sand will remain under pressure, resulting in lower profitability in the second quarter. We will continue to work closely with our customers during this energy sector downturn to help them be more competitive and we expect to continue to gain market share," he added. "While we are clearly focused on maximizing near term business results, we are also continuing to focus on our longer term goals. Specifically, we plan to continue to strengthen our position in the oil and gas proppant market, grow and diversify our industrial business and prepare for future growth," Shinn noted.

Outlook and Guidance

Due to the current lack of visibility in its Oil and Gas business, the Company will continue to refrain from providing guidance for Adjusted EBITDA until such time as it can gain more clarity around its customers' business activity levels and the associated demand for its products. Based on current market conditions, the Company anticipates that its capital expenditures for 2015 will be in a range of $60 million to $80 million.

For earnings history and earnings-related data on U.S. Silica (SLCA) click here.

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