US Silica hit by costs and market slowdown

摘要

PROPPANT player US Silica reported a net loss in the third quarter as the company took hits from merger and acquisition expenses, facility closure costs and outlays from plant start-ups and expansions amid weaker demand, writes Julia Martinez, For the third quarter, US Silica posted a net loss of $23 million, down from net income of $6.1 million in the previous quarter. Revenues for the company's oil and gas segment also fell by $30.4 million to $242.7 million from the second quarter to the third quarter, down 20% year-over-year.