CARBO Ceramics (CRR) Releases Earnings Results, Beats Expectations By $0.37 EPS

CARBO Ceramics (CRR) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $-0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.37. Analysts had a consensus of $-0.87. The company posted revenue of $20.70 million in the period, compared to analysts expectations of $25.08 million. The company’s revenue was down -71.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.41 EPS.

Many Wall Street Analysts have commented on CARBO Ceramics. Shares were Reiterated by Scotia Howard Weil on Jun 7, 2016 to “Sector Perform” and Lowered the Price Target to $ 15 from a previous price target of $18 .

CARBO Ceramics opened for trading at $11.68 and hit $13 on the upside on Thursday, eventually ending the session at $12.71, with a gain of 6.63% or 0.79 points. The heightened volatility saw the trading volume jump to 15,45,661 shares. Company has a market cap of $298 M.

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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