U.S. Silica (NYSE:SLCA) +6% pre-market after reporting a smaller than expected Q1 loss and a 2.6% Y/Y rise in revenues to $378M amid a resurgence in volume and pricing for Northern White sand in the quarter.
SLCA says it sold 4.83M tons of sand during Q1, up 4% from the 4.63M tons in Q4 and 17% higher than in the year-ago quarter.
SLCA says its SandBox unit, which provides transportation and storage facilities for proppant used in fracking, saw a 55% increase in loads delivered.
The company expects oil and gas sand volumes will grow in the low- to mid-single digits sequentially, driven by the continued ramp in West Texas volumes and the reactivation of some of its Northern White sand capacity.
Subscribe for full text news in your inbox