U.S. Silica posts Q1 EPS $0.17, enters $1.85B acquisition by Apollo

U.S. SILICA HOLDINGS, INC.

Q1 GAAP EPS $0.17; adjusted EPS $0.20; revenue $325.9M down 26% YoY.
Agreed to be acquired by Apollo Funds for $1.85 billion enterprise value in all-cash deal.
Repriced term loan (85 bps reduction) and extinguished $25M of debt in Q1.
Moody's and S&P upgraded credit ratings during the quarter.
Oil & Gas segment revenue $183.2M (-39% YoY); ISP segment flat at $142.8M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

U.S. SILICA HOLDINGS, INC. reported the quarter ended March 31, 2024 results: revenue $325.9, net income $13.7 million, or $0.17 per diluted share.

Period: the quarter ended March 31, 2024
Revenue: $325.9
Net income: $13.7 million, or $0.17 per diluted share
Result: reported results

Exact text from the filing

principal repayment, extinguishing the debt at par using excess cash on hand. Total Company In millions Q1 2024 Q4 2023 Sequential Change Q1 2023 Year-over-year Change Revenue $ 325.9 $ 336.0 (3)% $ 442.2 (26)% Net Income $ 13.7 $ 29.1 (53)% $ 44.6 (69)% Tons Sold 4.092 3.865 6% 4.934 (17)% Contribution Margin* $ 105.5 $ 116.9 (10)% $ 152.8 (31)% Adjusted

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Source: SEC EDGAR

accession 0001524741-24-000012

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