Carbo reports Q4 net loss as proppant sales more than halve
Published: Friday, 29 January 2016
Carbo saw both revenue and sales decline, resulting in a $50m net loss for the fourth quarter of last year. The company is focusing on developing efficiency-enhancing technologies as new technology revenue tripled in 2015, driven by E&P firms trying to cut costs.
North American proppants supplier Carbo Ceramics has
reported a GAAP net loss of $50m for the fourth quarter of
2015, compared with net income of $400,000 the previous year,
as activity in the oil and gas sector continued to slow.
Revenues totalled $56.8m for the three months ending