FREDERICK, Md. (AP) _ U.S. Silica Holdings Inc. (SLCA) on Monday reported third-quarter net income of $41.3 million, after reporting a loss in the same period a year earlier.
The Frederick, Maryland-based company said it had net income of 50 cents per share. Earnings, adjusted for non-recurring costs, were 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The commercial silica producer posted revenue of $345 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $328.6 million.
Silica Holdings shares have declined 44 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $31.52, a decline of 28 percent in the last 12 months.