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Thursday, January 25, 2018

-=Carbo Ceramics (CRR) reported earnings on Thur 25 Jan 2018 (BMO)



Carbo Ceramics beats by $0.06, beats on revs 
  • Reports Q4 (Dec) loss of $0.65 per share, $0.06 better than the Capital IQ Consensus of ($0.71); revenues rose 107.4% year/year to $60.34 mln vs the $56.87 mln Capital IQ Consensus.
  • Outlook
    • CEO Gary Kolstad commented on the outlook for CARBO stating, "A key goal in 2018 is continued progress on our transformation strategy to diversify revenue streams. It is our belief that execution on this transformation strategy will result in profitable growth and positive cash from operating activities. Although seasonality will impact the first half of 2018, we believe our revenue and operating cash will show improvement in the first half of 2018 compared to the first half of 2017."
    • "We believe revenues from the Oil and Gas and Industrial sectors will grow in 2018. Looking at them separately, revenue from the Oil and Gas sector should follow industry activity while revenue from the Industrial sector should see strong double-digit growth year over year."
    • "If the recent strengthening in oil price continues in 2018, we believe base ceramic demand could improve in 2018. In addition, early indications from clients point to increased ceramic technology sales in our KRYPTOSPHERE and GUARDTM family of products. We anticipate KRYPTOSPHERE HD sales will be down slightly in 2018 due to a decrease in Gulf of Mexico activity, while KRYPTOSPHERE LD sales should exhibit solid growth globally. SCALEGUARD, a scale inhibiting production assurance product, continues to see success through its ability to prevent scale buildup and lower lease operating expense for E&P operators. The pipeline of opportunities is promising and we have been awarded additional work in 2018 for a client's Permian basin wells, which should result in increased revenues compared to 2017."
    • "Regarding our sand business, firstsales for our North East project have begun in January. We will continue to utilize various business models, including an 'asset-lite' model like this, to serve client demand. " 

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