CARBO Ceramics (CRR) Releases Earnings Results, Misses Expectations By $-0.17 EPS

CARBO Ceramics (CRR) reported quarterly earnings results on Thursday, Apr-28-2016. The company reported $-1.07 earnings per share for the quarter, missing the analyst consensus estimate by $-0.17. Analysts had a consensus of $-0.90. The company posted revenue of $33.10 million in the period, compared to analysts expectations of $38.84 million. The company’s revenue was down -55.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.24 EPS.

Many Wall Street Analysts have commented on CARBO Ceramics. Shares were Reiterated by Cowen on Feb 1, 2016 to “Market Perform” and Lowered the Price Target to $ 16 from a previous price target of $20 .

CARBO Ceramics closed down -0.21 points or -1.30% at $15.95 with 6,43,132 shares getting traded on Wednesday. Post opening the session at $16.35, the shares hit an intraday low of $15.64 and an intraday high of $16.5 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 4, 2016, Gary A Kolstad (President and CEO) sold 2,800 shares at $18.90 per share price.

Carbo Ceramics Inc. is an oilfield services technology company which supplies ceramic proppant and sells sand and resin-coated sand. The Company also sells sand independent of its resin-coating operations. It also provides fracture simulation software and fracture design and consulting services and a range of technologies for spill prevention containment and countermeasures. The Company’s products and services are primarily used in the hydraulic fracturing of natural gas and oil wells. There are three primary types of proppant that can be utilized in the hydraulic fracturing process: sand resin-coated sand and ceramic. The Company manufactures six ceramic proppants: KRYPTOSPHERETM HD CARBOHSP CARBOPROP CARBOLITE CARBOECONOPROP and CARBOHYDROPROP. The Company produces resin-coated ceramic (CARBOBOND LITE) and resin-coated sand (CARBOBOND RCS) proppants; CARBO NORTHERN WHITE a frac sand; and CARBONRT proppant. The Company also sells SCALEGUARD a porous ceramic proppant.

CARBO Ceramics

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