Carbo reports Q2 loss; expects better H2 for ceramic proppants
Published: Friday, 29 July 2016
Like other companies catering to the oil and gas sector, Carbo Ceramics reported a net loss for the quarter as prices and volumes for proppants fell. However, the company anticipates increased sales of its ceramic proppants in the second half of the year.
Houston, US-based Carbo Ceramics Inc. has reported a net
loss of $20.3m in the second quarter of this year, as the oil
and gas sector remained challenging.
The company reported a 72% year-on-year (y-o-y) drop in
revenues to $20.7m for Q2 2016. However it noted that ceramic