U.S. SILICA HOLDINGS, INC.
ussilica.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Jul 31, 2024. Its latest SEC filing is a SCHEDULE 13G/A from Nov 12, 2024.
10-Q for Q2 FY2024, filed Jul 31, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells commercial silica and industrial minerals to oil and gas companies and manufacturers, and provides logistics services to oil and gas customers.
10-K for FY2023, filed Feb 27, 2024In order to serve a broad range of end markets, we produce and sell a variety of commercial silica, diatomaceous earth, clay and perlite…View ↗
Whole Grain Silica Products—We sell whole grain commercial silica products in a range of shapes, sizes and purity levels. We sell whole…View ↗
Performance Material Products—We sell engineered performance materials made from diatomaceous earth (DE), clay and perlite. DE is used in…View ↗
Services—We offer services through the provision of transportation, equipment rental and contract labor services, primarily through…View ↗
We sell our products to a variety of end markets. Our customers in the oil and gas proppants end market include major oilfield services…View ↗
During most of our 124-year history, our primary markets have been core industrial end markets with customers engaged in the production of…View ↗
How Did They Make Money?
Customers buy minerals by purchase order, with payment invoiced per shipment or weekly or monthly for larger customers; payment is generally due within 30 days. Oil and gas customers also pay for transportation, equipment rental and labor based on services used or rental time, usually invoiced weekly or monthly.
10-K for FY2023, filed Feb 27, 2024We derive our product sales by mining and processing minerals that our customers purchase for various uses. Our product sales are primarily…View ↗
We recognize revenue for products and materials at a point in time following the transfer of control of such items to the customer, which…View ↗
We derive our service revenues primarily through the provision of transportation, equipment rental, and contract labor services to…View ↗
We typically invoice our customers on a weekly or monthly basis; however, some customers receive invoices upon well-site operation…View ↗
-
10-K for FY2023, filed Feb 27, 2024
FY2023 revenue by product or service ↗
$1.6B
-
10-K for FY2023, filed Feb 27, 2024
$1.6B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
10-K for FY2023, filed Feb 27, 2024 |
79%
FY2020: 87%
|
Product, FY2023
$1.2B Sources
|
Sold outright |
|
Service
Mix
10-K for FY2023, filed Feb 27, 2024 |
21%
FY2020: 13%
|
Service, FY2023
$320.4M Sources
|
Mix |
Who Were Their Customers?
Oilfield services companies and exploration and production companies buy proppants for hydraulic fracturing. Industrial customers use silica and mineral products in building materials, glass, foundry products, food and beverage, filtration and other applications.
10-K for FY2023, filed Feb 27, 2024We sell our products to a variety of end markets. Our customers in the oil and gas proppants end market include major oilfield services…View ↗
During most of our 124-year history, our primary markets have been core industrial end markets with customers engaged in the production of…View ↗
Whole Grain Silica Products—We sell whole grain commercial silica products in a range of shapes, sizes and purity levels. We sell whole…View ↗
Performance Material Products—We sell engineered performance materials made from diatomaceous earth (DE), clay and perlite. DE is used in…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2023 and turned 13 cents into free cash flow.
How Were They Changing?
- Net income
-
Sources
10-Q for Q2 FY2024, filed Jul 31, 2024
$19.3MView ↗
- ▼ −58%
- vs $46.3M in Q2 FY2023
10-Q for Q2 FY2024, filed Jul 31, 2024
Open tableView ↗
-
Aug 1, 2024
Alan Schultz became CFO, replacing interim CFO Kevin Hough.
Schultz’s appointment took effect August 1, 2024.
Sources
8-K, filed Aug 1, 2024
On August 1, 2024, U.S. Silica Holdings, Inc. (the “Company” or “U.S. Silica”) announced that it had appointed Alan Schultz to serve as the…View ↗
-
Jul 31, 2024
Apollo funds acquired U.S. Silica, and its shares stopped trading on the NYSE.
The company continues under the U.S. Silica name and brand as a wholly owned subsidiary of Apollo funds.
Sources
8-K, filed Jul 31, 2024
KATY, TX and NEW YORK, NY – July 31, 2024 – U.S. Silica Holdings, Inc. (“U.S. Silica” or the “Company”), a diversified minerals company and…View ↗
Held flat. Revenue was $1.6B in FY2023, about the same as the $1.5B of FY2019.
Expanded mineral products
The latest report describes calcium montmorillonite clay among the engineered mineral materials it sells; the older report lists calcium bentonite clay from Mississippi but does not include calcium montmorillonite in that product description.
10-K for FY2020, filed Feb 26, 2021 10-K for FY2023, filed Feb 27, 2024Performance Material Products—We sell engineered performance materials made from diatomaceous earth (DE), clay and perlite. DE is used in…View ↗
Performance Material Products—We sell engineered performance materials made from diatomaceous earth (DE), clay and perlite. DE is used in…View ↗
Loading...
