Welcome to our dedicated page for U.S. Silica Holdings news (Ticker: SLCA), a resource for investors and traders seeking the latest updates and insights on U.S. Silica Holdings stock.
U.S. Silica Holdings, Inc. (NYSE: SLCA) is a leading producer of commercial silica and industrial minerals, serving the oil and gas industry and various industrial applications. With a rich history spanning over 115 years, U.S. Silica has honed its expertise in mining, processing, logistics, and materials science, allowing it to deliver over 250 products to diverse end markets efficiently and cost-effectively.
Headquartered in Katy, Texas, U.S. Silica operates through two primary segments: Oil & Gas Proppants and Industrial & Specialty Products. The Oil & Gas Proppants segment contributes the majority of the company’s revenue and focuses on supplying sand essential for hydraulic fracturing. U.S. Silica’s extensive logistics network ensures the delivery of sand directly to well sites, optimizing operational efficiency. The Industrial & Specialty Products segment caters to various industries, including glass, building products, and filtration systems.
U.S. Silica is also a pioneer in sustainability, continuously striving to improve and innovate. The company’s sustainability programs are integral to its operations, reflecting a commitment to responsible environmental stewardship. U.S. Silica’s recent achievements include the development of the Guardian frac fluid filtration system, which has shown promising results in increasing pump uptime and efficiency while reducing maintenance costs.
Financially, U.S. Silica has shown resilience and robust performance. For the third quarter of 2023, the company reported a net income of $26.9 million, driven by strong customer demand and effective cost management. The company has also been proactive in reducing its debt, repurchasing and extinguishing an additional $25 million in the third quarter, improving its leverage profile.
U.S. Silica’s strategic direction includes expanding its Industrial & Specialty Products segment and maintaining a robust presence in the oil and gas market. The company remains committed to innovation, with a pipeline of new products and applications under development to meet evolving market demands.
Looking ahead, U.S. Silica has reaffirmed its full-year 2023 guidance, expecting a 25% year-over-year increase in Adjusted EBITDA and significant cash flow from operations. The company is well-positioned to continue its growth trajectory, supported by strong contractual commitments and operational efficiencies.
For further details, visit U.S. Silica’s website (www.ussilica.com) or check their sustainability report at www.ussilicasustain.com.
U.S. Silica Holdings (NYSE: SLCA) announced that its stockholders have approved the previously announced acquisition by funds managed by Apollo (NYSE: APO) affiliates. The all-cash transaction, referred to as the Merger, received approval from over 75% of the company's outstanding shares at a special meeting held on July 16, 2024. Approximately 78% of the company's outstanding shares were voted at the meeting. The closing of the Merger is still subject to the terms and conditions of the agreement but is expected to occur before the end of the current quarter. U.S. Silica, a diversified industrial minerals company and leading last-mile logistics provider to the oil and gas industry, will file the final voting results in a Current Report on Form 8-K with the SEC.
U.S. Silica Holdings (NYSE: SLCA) announced a price hike on May 15, 2024, for most of its Industrial and Specialty Products. The increase, which ranges up to 20%, affects non-contracted silica, aplite, diatomaceous earth, clay, perlite, and cellulose products used across various industries including glass, filtration, foundry, and renewable diesel. The new pricing will be effective from July 1, 2024, and aims to offset rising costs and support business reinvestment.
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