U.S. Silica Holdings, Inc. recently announced net income of $29.5 million for the second quarter ended June 30, 2017, compared with a net loss of $11.8 million for the second quarter of 2016. The second quarter results were negatively impacted by $1.5 million in business development-related expenses. Revenue totaled $290.5 million, compared with $117.0 million for the same period last year, an increase of 148% on a year-over-year basis and an increase of 19% sequentially over the first quarter of 2017. Overall tons sold totaled 3.638 million, up 63% compared with 2.237 million tons sold in the second quarter of 2016 and an increase of 7% sequentially from the first quarter of 2017. 

In the Oil and Gas segment, revenue for the quarter totaled $235 million, compared with $64.9 million for the same period in 2016, an increase of 262% on a year-over-year basis and an increase of 22% sequentially from the first quarter of 2017. Tons sold totaled 2.745 million, an increase of 106% compared with the 1.333 million tons sold in the second quarter of 2016 and an increase of 8% sequentially compared with the tons sold in the first quarter of 2017. 62% of tons were sold in basin compared with 67% sold in basin in the first quarter of 2017.

Revenue in Industrial and Specialty Products for the quarter totaled $55.4 million, compared with $52.1 million for the same period in 2016, an increase of 6% on a year-over-year basis and up 7% sequentially from the first quarter of 2017. Tons sold totaled 0.893 million, relatively flat on a year-over-year basis and an increase of 4% on a sequential basis compared with the first quarter of 2017.

“U.S. Silica’s strong second quarter performance reflects robust demand and pricing growth for frac sand and Sandbox last mile delivery services in our Oil and Gas business, and another record quarter for our Industrials unit,” said Bryan Shinn, president and CEO. “We expect to see further strength in well completions and sand usage per well, leading to record 2017 business results, and we also continue to work diligently on building out new capacity and potentially closing additional accretive acquisitions in both segments of our company.”

For more information, visit www.ussilica.com.