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CARBO CERAMICS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2019 10-K, filed May 15, 2020. Its latest SEC filing is a 15-12B from Dec 30, 2020.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Sells ceramic proppants and well-fracturing software and consulting to pressure-pumping companies and oil and gas operators; also makes industrial ceramic products and spill-containment systems for industrial and oil and gas customers.

How Did They Make Money?

It earns money from proppant and containment-goods sales when goods are delivered, fracture-simulation software when it ships, and consulting, contract manufacturing, and spill-prevention services when the work is performed.

FY2019 revenue

Who Were Their Customers?

Oil and gas operators and pressure-pumping companies buy proppant; sales reach end users directly, through intermediaries and distributors, and online for some products. Industrial customers buy ceramic products through direct sales and distributors.

Did Revenues Turn Into Profits?

No. It lost $304.2M in FY2019.

Operating income, FY2019
−185% of revenue
▲ +349% (Loss) vs FY2018 (−$66.6M, −32%)
Net income, FY2019
−188% of revenue
▲ +303% (Loss) vs FY2018 (−$75.4M, −36%)

How Were They Changing?

Since the FY2019 annual report
  • Jun 22, 2020 Bankruptcy court confirmed the amended Chapter 11 reorganization plan

Shrank. Revenue fell 42% in 4 years, from $279.6M in FY2015 to $161.7M in FY2019, about 13% a year.

Sand operations stopped The older report lists frac sand among the products sold to well operators; the latest report says all sand operations were idled and the company did not expect to resume them.

Environmental products reach industrial customers The older report describes AGPI’s spill-prevention and containment systems as serving the oil and gas industry; the latest report also identifies industrial customers for these products.

SALTGUARD became a commercial product The older report describes SALTGUARD as under development; the latest report says it had been commercialized.

Who Did They Compete With?

Competes with Saint-Gobain, Curimbaba, Imerys, Itochu, Prince Minerals, Keramos, Magotteaux, Kings, Cenotec, Covia, U.S. Silica, Hi-Crush Partners, and Badger Mining

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