U.S. Silica’s Revenue Rises 25% in the Third Quarter
U.S. Silica Holdings Inc. recently announced net income of $21.3 million for the third quarter ended September 30, compared with net income of $18.8 million for the same period last year. Total company revenue totaled $144.4 million in the third quarter, vs. $115.9 million for the same period last year, an increase of 25%. Overall volumes increased to 2.1 million tons, an increase of 12.4% over the third quarter of 2012.
“U.S. Silica delivered another strong performance in the third quarter, once again demonstrating the effectiveness of our logistics-driven business model,” said Bryan Shinn, president and CEO. “I was particularly pleased to see the 600 basis point sequential increase in our oil and gas contribution margin dollars per ton. I am also very encouraged by the strong secular demand trends driven by increased drilling efficiencies and overall greater proppant use per well. We continue to be right on track to deliver our 2016 goal of doubling company adjusted EBITDA.”
For more information, visit www.ussilica.com.