U.S. Silica Announces Price Increases on Cristobalite Products
U.S. Silica Holdings (NYSE: SLCA) announced an increase of up to 25% on the prices of most non-contracted whole grain and ground cristobalite products, effective April 1, 2022.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
U.S. Silica Holdings (NYSE: SLCA) announced an increase of up to 25% on the prices of most non-contracted whole grain and ground cristobalite products, effective April 1, 2022. This decision affects products manufactured in Millen, GA, Berkeley Springs, WV, and Columbia, SC, commonly used in building materials, foundries, plastics, and coatings. The price hikes are attributed to ongoing inflationary pressures in raw materials, logistics, and maintenance expenses, highlighting the company's response to current market conditions.
Positive
- None.
Negative
- Price increases of up to 25% could impact demand negatively for cristobalite products.
- Inflationary pressures suggest rising costs affecting overall profitability.
Details
News Market Reaction – SLCA
The recorded move for SLCA in the trading session of this news was +19.41%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
KATY, Texas, Feb. 24, 2022 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) said today that a portion of its Industrial and Specialty Products business will increase prices for most of its non-contracted whole grain and ground cristobalite products. These products are produced in its Millen, GA, Berkeley Springs, WV and Columbia, SC facilities and used primarily in building products, foundry, plastics, and paints and coatings.
Price increases will range up to 25 percent, depending on the product and grade. The price increases are effective for shipments starting April 1, 2022.
This increase is driven by ongoing inflationary pressures around raw materials, packaging, logistics and maintenance expenses.
About U.S. Silica
U.S. Silica Holdings, Inc. is a global performance materials company and is a member of the Russell 2000. The Company is a leading producer of commercial silica used in the oil and gas industry and in a wide range of industrial applications. Over its 122-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 600 diversified products to customers across our end markets. U.S. Silica's wholly-owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 24 mines and production facilities and is headquartered in Katy, Texas.
U.S. Silica Holdings, Inc.
Investor Contact
Patricia Gil
Vice President, Investor Relations
281-505-6011
gil@ussilica.com
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SOURCE U.S. Silica Holdings, Inc.
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