U.S. Silica Holdings Meets Analyst Expectations, Shares Crash Anyways

Shares of frack sand producer U.S. Silica Holdings (NYSE: SLCA) fell as much as 11% today and are down 8% as of 12:00 p.m. EDT. Today's decline comes after the company reported earnings that beat some analyst expectations, but revenue was lower than estimates. The company also announced higher levels of capital spending for the year.

Depending on who you ask, U.S. Silica's most recent results either exceeded or did not meet expectations. The company's adjusted second-quarter net income result of $0.38 per share beat analyst expectations at Zacks, which were looking for adjusted net income of $0.37 per share. Conversely, though, estimates from another analyst group, FactSet, were looking for earnings of $0.39 per share. So, let's just call it a tie and say the company met expectations.

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Source: Fool.com