Fairmount Santrol offers preliminary Q3 results; to launch 28M-share offering

|About: Fairmount Santrol, Inc. (FMSA)|By:, SA News Editor

Fairmount Santrol (NYSE:FMSA) -3.9% AH after offering preliminary Q3 results, including expectations for a per share loss of $0.11-$0.13, vs. analyst consensus for a $0.12 loss, on revenues of $133M-$135M, vs. $128.1M consensus.

FMSA sees overall volumes sold during Q3 of ~2.4M tons, vs. 2M tons in Q2, which the company attributes to higher demand for both raw frac sand and coated proppants.

Separately, FMSA announces a 28M-share public offering, with an underwriters option to purchase up to an additional 4.2M common shares; FMSA says it plans to use the proceeds for general corporate purposes.