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U.S. Silica (SLCA) Earnings & Sales Beat Estimates in Q4
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U.S. Silica Holdings, Inc. (SLCA - Free Report) reported a net loss of $19 million or 25 cents per share in fourth-quarter 2021, against a profit of $4.6 million or 6 cents per share in the year-ago quarter.
Barring one-time items, adjusted loss per share was 22 cents, narrower than the Zacks Consensus Estimate of a loss of 30 cents.
U.S. Silica generated revenues of $284.9 million, up 25% year over year. The figure surpassed the Zacks Consensus Estimate of $258.9 million.
U.S. Silica Holdings, Inc. Price, Consensus and EPS Surprise
Revenues in the Oil & Gas division amounted to $158.6 million in the fourth quarter, up 31.8% year over year and 11.8% sequentially. Overall sales volume increased 63% year over year to 3.096 million tons. Oil & Gas contribution margin rose 17% sequentially and declined 41.5% year over year to $30.1 million or $9.72 per ton.
Revenues in the Industrial & Specialty Products division amounted to $126.3 million in the fourth quarter, up 18.1% year over year and 0.6% sequentially. Overall sales volume increased 17% year over year to 1.085 million tons. The segment’s contribution margin was $41.5 million or $38.25 per ton in the quarter, up 1.2% sequentially and 8.3% year over year.
FY21 Results
Loss (as reported) for full-year 2021 was 45 cents per share compared with a loss of $1.55 per share a year ago. Net sales increased 30% year over year to $1.1 billion.
Financials
At the end of the year, the company’s cash and cash equivalents were $239.4 million, up 59% year over year. Long-term debt remained inched down 0.3% to $1,193.1 million.
Outlook
For the first quarter and 2022, U.S. Silica’s two business segments are well-positioned for sustainable, long-term growth in their respective markets. It has a strong portfolio of Industrial and Specialty Products that serve several essential, high-growth and attractive end markets, backed by a strong pipeline of new products under development, as well as pricing increases and surcharges, the company noted.
In the Oil & Gas segment, the company expects a multi-year growth cycle. The strength in commodity prices, especially WTI crude oil prices, along with increases in consumer spending support an active well completions environment in 2022.
The company intends to deliver free positive cash flow in 2022 and deleverage its balance sheet. It forecasts capital expenditures in the range of $40-60 million.
Price Performance
Shares of U.S. Silica have increased 3.3% in the past year against a 0.6% decline of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
U.S. Silica currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are Allegheny Technologies Incorporated (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Allegheny, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 661.5% for the current year. The Zacks Consensus Estimate for ATI's earnings for the current year has been revised 45.6% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Allegheny beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 127.2%. ATI has rallied around 22.2% in a year.
Nutrien, sporting a Zacks Rank #1, has a projected earnings growth rate of 70.1% for the current year. The Zacks Consensus Estimate for NTR's current-year earnings has been revised 16.9% upward in the past 60 days.
Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 60.3%, on average. NTR has rallied around 45.8% in a year.
AdvanSix has a projected earnings growth rate of 14.6% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 9.8% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being 23.6%. ASIX has surged 32.8% over a year. The company sports a Zacks Rank #1.
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U.S. Silica (SLCA) Earnings & Sales Beat Estimates in Q4
U.S. Silica Holdings, Inc. (SLCA - Free Report) reported a net loss of $19 million or 25 cents per share in fourth-quarter 2021, against a profit of $4.6 million or 6 cents per share in the year-ago quarter.
Barring one-time items, adjusted loss per share was 22 cents, narrower than the Zacks Consensus Estimate of a loss of 30 cents.
U.S. Silica generated revenues of $284.9 million, up 25% year over year. The figure surpassed the Zacks Consensus Estimate of $258.9 million.
U.S. Silica Holdings, Inc. Price, Consensus and EPS Surprise
U.S. Silica Holdings, Inc. price-consensus-eps-surprise-chart | U.S. Silica Holdings, Inc. Quote
Segment Highlights
Revenues in the Oil & Gas division amounted to $158.6 million in the fourth quarter, up 31.8% year over year and 11.8% sequentially. Overall sales volume increased 63% year over year to 3.096 million tons. Oil & Gas contribution margin rose 17% sequentially and declined 41.5% year over year to $30.1 million or $9.72 per ton.
Revenues in the Industrial & Specialty Products division amounted to $126.3 million in the fourth quarter, up 18.1% year over year and 0.6% sequentially. Overall sales volume increased 17% year over year to 1.085 million tons. The segment’s contribution margin was $41.5 million or $38.25 per ton in the quarter, up 1.2% sequentially and 8.3% year over year.
FY21 Results
Loss (as reported) for full-year 2021 was 45 cents per share compared with a loss of $1.55 per share a year ago. Net sales increased 30% year over year to $1.1 billion.
Financials
At the end of the year, the company’s cash and cash equivalents were $239.4 million, up 59% year over year. Long-term debt remained inched down 0.3% to $1,193.1 million.
Outlook
For the first quarter and 2022, U.S. Silica’s two business segments are well-positioned for sustainable, long-term growth in their respective markets. It has a strong portfolio of Industrial and Specialty Products that serve several essential, high-growth and attractive end markets, backed by a strong pipeline of new products under development, as well as pricing increases and surcharges, the company noted.
In the Oil & Gas segment, the company expects a multi-year growth cycle. The strength in commodity prices, especially WTI crude oil prices, along with increases in consumer spending support an active well completions environment in 2022.
The company intends to deliver free positive cash flow in 2022 and deleverage its balance sheet. It forecasts capital expenditures in the range of $40-60 million.
Price Performance
Shares of U.S. Silica have increased 3.3% in the past year against a 0.6% decline of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
U.S. Silica currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are Allegheny Technologies Incorporated (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Allegheny, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 661.5% for the current year. The Zacks Consensus Estimate for ATI's earnings for the current year has been revised 45.6% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Allegheny beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 127.2%. ATI has rallied around 22.2% in a year.
Nutrien, sporting a Zacks Rank #1, has a projected earnings growth rate of 70.1% for the current year. The Zacks Consensus Estimate for NTR's current-year earnings has been revised 16.9% upward in the past 60 days.
Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 60.3%, on average. NTR has rallied around 45.8% in a year.
AdvanSix has a projected earnings growth rate of 14.6% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 9.8% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being 23.6%. ASIX has surged 32.8% over a year. The company sports a Zacks Rank #1.