U.S. Silica Holdings Q3 Profit Almost Doubles, Revenues Beat View

(RTTNews) - U.S. Silica Holdings, Inc. (SLCA) reported third-quarter net income of $41.28 million or $0.76 per share, up from $21.33 million or $0.40 per share in the year-ago period.

Excluding business development and related expenses during the quarter, earnings per share for the quarter were $0.79 per basic share. On average, fourteen analysts polled by Thomson Reuters expected the company to earn $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter grew to $241.26 million from $144.37 million in the year-ago period. Analysts had a consensus revenue estimate of $231.72 million.

For fiscal 2014, U.S. Silica now expects adjusted EBITDA at the high end of its guidance range of $230 million to $240 million.

The company still anticipates full-year 2014 capital expenditures in a range of $95 million to $105 million and its effective tax rate to be approximately 27 percent.