U.S. Silica Holdings, Inc. reported strong quarterly earnings, with major improvement over past year. U.S Silicia has been running leaner and more focused on their customers. The demand for their product is looking optimistic as they believe there will be a strong demand. (Read full report) U.S Silica has also acquired logistics solutions provider, Sandbox Enterprises LLC, this acquisition will improve efficiencies and costs savings to the delivery system, which should have an impact on earnings in 2017.
''I'm very pleased with the strong performances we saw from both of our operating segments during the quarter,'' said Bryan Shinn, president and chief executive officer. ''Continued industry recovery and powerful secular trends are driving record demand for our products and services in Oil and Gas while our Industrial and Specialty Products segment continues to make great progress in growing its bottom line through a combination of strategic price increases and the roll out of more higher margin products.''
U.S. Silica Holdings, Inc. produces and sells commercial silica in the United States (with a location in North Central Illinois). The company operates through two segments, Oil & Gas Proppants and Industrial & Specialty Products. It offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery; and resin coated proppants, as well as sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.