U.S. Silica Afflicted by Low-Cost Sand Supply Flood
Frac sand producers U.S. Silica and Hi-Crush experienced very poor third-quarter results owing to weakening frac sand pricing. U.S. Silica Proppant segment revenue fell 7% sequentially in spite of 10% higher volumes (as the company's Permian Basin mines ramped up) and contribution margin per ton fell to $23 from $33. Hi-Crush revenue fell 14% with a 9% decrease in volumes, and contribution margin per ton fell to $24 from $31.Frac sand pricing owing to stagnant to slightly declining demand (perh...
U.S. Silica Holdings is a holding company. Through its subsidiaries, the company is a performance materials company and a producer of commercial silica used in industrial applications and in the oil and gas industry. The company is also engaged in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. The company's segments include: Oil and Gas Proppants, which serves the oil and gas recovery market by providing and delivering fracturing sand; and Industrial and Specialty Products, which provides products and materials for building and construction products, fillers and extenders, filtration, glassmaking, absorbents, foundry, and sports and recreation.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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