US Silica Q3 income down 94% with further declines expected
Published: Wednesday, 28 October 2015
While the silica sand producer has seen sequential improvements in revenue and sales, its results paint a much bleaker picture than in 2014, and US Silica predicts that margins and volumes in its oil and gas business will slow significantly over the next quarter.
US Silica Holdings saw its net income for the third quarter
plummet 94% to $2.4m down from $41.3m the previous year, with
further declines expected in Q4.
Revenue for the proppant producer also dropped 36% to
$155.4m in Q3 2015, down from $241.3m for the same period