KATY, Texas, Dec. 1, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) said today that its Industrial and Specialty Products business will increase prices for most of its non-contracted silica sand, diatomaceous earth, perlite, cellulose and clay products used primarily in filtration, glass, foundry, paints, coatings, elastomers, roofing, chemicals, recreation, building products, agricultural, pet litter and other applications.

Price increases will range up to 15 percent, depending on the product and grade. The price increases are effective for shipments starting Jan. 1, 2021. 

The price increases will support the continued investments the Company is making in upgrading its capacity to meet the growing demand for its products and to offset rising production costs.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois.

U.S. Silica Holdings, Inc.
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-price-increases-on-industrial-and-specialty-products-301182622.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Oct. 29, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) announced today that it has rescheduled its third quarter 2020 conference call for investors due to the Company's service provider experiencing systemwide technical difficulties. The conference call to discuss U.S. Silica's third quarter 2020 earnings results has been scheduled for 9:00 a.m. Central Time today, October 29, 2020. Hosting the call will be Bryan Shinn, chief executive officer, and Don Merril, executive vice president and chief financial officer.

Investors are invited to listen to a live webcast of the conference call by visiting the "Investor Resources" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13711449. The replay will be available through Nov. 28, 2020.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois.

U.S. Silica Holdings, Inc.

Investor Contact
Arjun Sreekumar
Director of Investor Relations
281-394-9584
sreekumar@ussilica.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-reschedules-third-quarter-2020-investor-call-301163004.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Oct. 29, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA), a diversified industrial minerals company and the leading last-mile logistics provider to the oil and gas industry (the "Company"), today announced third quarter 2020 results, including a net loss of $14.0 million, or $(0.19) per basic and diluted share.

The third quarter results were negatively impacted by $3.8 million, or $0.04 per share, of charges related to asset impairments, merger and acquisition related expense, plant startup and expansion costs, facility closure costs, and other adjustments, resulting in adjusted EPS for the third quarter of $(0.15) per basic and diluted share.

"I'd like to commend our team on delivering outstanding third quarter results despite a challenging, though improving, macro backdrop," said Bryan Shinn, chief executive officer. "Our Industrial segment volumes and profits both rebounded sharply as demand in several key end markets improved materially."

"In our Oil & Gas segment, sand volumes rose 15% and our Sandbox delivered loads surged 74% as industry frac activity and well completions climbed during the quarter. Increased volumes and cost reduction measures including the remeasurement of railcar leases helped drive a 20% sequential jump in segment profitability. Our teams have worked diligently to right-size our cost structure, particularly in the Oil & Gas segment, and the results of those efforts are now apparent," he added.

"We have transformed this more volatile business and equipped it to perform well under a variety of market conditions, while simultaneously continuing to invest in and grow our more stable, higher-margin Industrials business," Shinn concluded.

Third Quarter 2020 Highlights

Total Company

• Revenue of $176.5 million for the third quarter of 2020 compared with $172.5 million in the second quarter of 2020, up 2% sequentially and down 51% from the third quarter of 2019.
• Overall tons sold of 2.239 million for the third quarter of 2020 compared with 1.904 million tons sold in the second quarter of 2020, up 18% sequentially and down 54% from the third quarter of 2019.
• Net loss of $14.0 million, or $(0.19) per basic and diluted share, for the third quarter of 2020, compared with a net loss of $23.0 million, or $(0.31) per basic and diluted share, for the third quarter of 2019.
• Contribution margin of $73.8 million for the third quarter of 2020 compared with $61.3 million in the second quarter of 2020, up 20% sequentially and down 22% from the third quarter of 2019.
• Adjusted EBITDA of $51.3 million for the third quarter of 2020 compared with $40.8 million in the second quarter of 2020, up 26% sequentially and down 12% from the third quarter of 2019.

Industrial and Specialty Products

• Revenue of $110.1 million for the third quarter of 2020 compared with $100.0 million in the second quarter of 2020, up 10% sequentially and down 8% from the third quarter of 2019.
• Tons sold totaled 0.957 million for the third quarter of 2020 compared with 0.792 million tons sold in the second quarter of 2020, up 21% sequentially and flat compared with the third quarter of 2019.
• Segment contribution margin of $42.4 million, or $44.26 per ton, for the third quarter of 2020 compared with $35.1 million in the second quarter of 2020, up 21% sequentially and down 5% from the third quarter of 2019.

The Industrial & Specialty Products segment experienced a 21% sequential increase in contribution margin as sales volumes increased 21%, spurred by stronger demand from several key industrial end markets such as glass, housing and automotive. Contribution margin also benefited by $2.4 million from the remeasurement of operating leases associated with the Company's fleet of rail cars.

In the third quarter, U.S. Silica executed a new supply agreement with a leading global biopharma company and gained momentum with additional trials for its blood plasma filtration product line. The Company is proud to announce it was awarded the 2020 Supplier of the Year by one of its key industrial customers, a leading multinational building products company.

Oil & Gas

• Revenue of $66.3 million for the third quarter of 2020 compared with $72.5 million in the second quarter of 2020, down 8% sequentially and down 73% from the third quarter of 2019.
• Tons sold of 1.282 million for the third quarter of 2020 compared with 1.112 million tons sold in the second quarter of 2020, up 15% sequentially and down 67% from the third quarter of 2019.
• Segment contribution margin of $31.5 million, or $24.55 per ton, for the third quarter of 2020 compared with $26.2 million in the second quarter of 2020, up 20% sequentially and down 38% from the third quarter of 2019.

In the Oil & Gas segment, the Company sold 1.282 million tons in the third quarter, up 15% from the prior quarter, led by a sequential improvement in frac activity and well completions. Contribution margin for the segment improved 20% sequentially to $31.5 million, driven primarily by cost reduction measures including an $18.2 million benefit from the remeasurement of rail leases and higher volumes, partially offset by lower shortfall penalties recorded during the quarter.

SandBox loads increased 74% during the quarter, as key customers in several basins ramped up their pace of well completions and added more frac crews. During the quarter, the Oil & Gas segment was awarded two new contracts, one with a leading oilfield services provider and one with an E&P in the Northeast.

Capital Update

As of September 30, 2020, the Company had $134.9 million in cash and cash equivalents and $49.6 million, including $25.4 million allocated for letters of credit, available under its credit facilities. Total debt outstanding under our credit facilities as of September 30, 2020 was $1.263 billion.

Capital expenditures in the third quarter totaled $4.5 million and were mainly related to growth capital projects at U.S. Silica's Millen, GA, and Columbia, SC, industrial facilities, as well as maintenance spending and cost improvement projects across the network. The Company's forecast of capital expenditures for the full year 2020 is approximately $30.0 million, unchanged from the previous guidance and 75% lower than 2019 capital expenditures of $118.4 million.

Outlook  and Guidance

In the Industrial and Specialty Products segment, the Company forecasts fourth quarter volumes to decline 5%-10% sequentially due to the typical seasonality in that business. Excluding the third quarter benefit from the remeasurement of railcar leases, the segment's contribution margin is expected to decline by roughly 10%, in line with the typical seasonal decline seen in past years.

Looking further out into 2021, though economic uncertainty remains, the Company's base case is that the ISP segment's volumes and contribution margin will continue to outperform U.S. GDP trends.

In the Oil & Gas segment, U.S. Silica expects an increase in fourth quarter volumes in the range of 20%-30%, driven by an expected increase in completion activity as operators continue to draw down inventories of drilled but uncompleted wells (DUCs). Adjusting for the third quarter rail lease benefit, the segment's contribution margin is expected to increase 5%-10% sequentially.  

For 2021, while uncertainty remains, the Company's base case scenario assumes a more balanced crude oil market, which should drive increased completion activity, higher frac sand demand and a stabilization of pricing.

Conference Call

U.S. Silica will host a conference call for investors today, October 29, 2020 at 7:30 a.m. Central Time to discuss these results. Hosting the call will be Bryan Shinn, chief executive officer, and Don Merril, executive vice president and chief financial officer. Investors are invited to listen to a live webcast of the conference call by visiting the "Investor Resources" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13711449. The replay will be available through Nov. 28, 2020.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois.

Forward-looking Statements

The presentation referred to above contains "forward-looking statements" within the meaning of the federal securities laws - that is, statements about the future, not about past events. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "could," "can have," "likely" and other words and terms of similar meaning. Forward-looking statements made include any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements regarding the Company's growth opportunities, strategy, future financial results, forecasts, projections, plans and capital expenditures, technological innovations, ability to reduce costs or idle plants, the impacts of COVID-19 on the Company's operations, and the commercial silica industry. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves, fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; changes in oil and gas inventories; general economic, political and business conditions in key regions of the world; pricing pressure; weather and seasonal factors; the cyclical nature of our customers' business; our inability to meet our financial and performance targets and other forecasts or expectations; our substantial indebtedness and pension obligations, including restrictions on our operations imposed by our indebtedness; operational modifications, delays or cancellations; prices for electricity, natural gas and diesel fuel; our ability to maintain our transportation network; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, pharmaceuticals, and oil and gas production; silica-related health issues and corresponding litigation; and other risks and uncertainties detailed in this press release and our Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of the presentation referred to above, and we disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

Segment Contribution Margin

Segment contribution margin is a key metric that management uses to evaluate our operating performance and to determine resource allocation between segments. Segment contribution margin excludes selling, general, and administrative costs, corporate costs, plant capacity expenses, and facility closure costs.

The following table sets forth a reconciliation of net (loss) income, the most directly comparable GAAP financial measure, to segment contribution margin. 

Adjusted EBITDA

Adjusted EBITDA is not a measure of our financial performance or liquidity under GAAP and should not be considered as an alternative to net income (loss) as a measure of operating performance, cash flows from operating activities as a measure of liquidity or any other performance measure derived in accordance with GAAP. Additionally, Adjusted EBITDA is not intended to be a measure of free cash flow for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and cash costs to replace assets being depreciated and amortized, and excludes certain charges that may recur in the future. Management compensates for these limitations by relying primarily on our GAAP results and by using Adjusted EBITDA only supplementally. Our measure of Adjusted EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation.

The following table sets forth a reconciliation of net income (loss), the most directly comparable GAAP financial measure, to Adjusted EBITDA:

U.S. Silica Holdings, Inc.

Investor Contact
Arjun Sreekumar
Director of Investor Relations
281-394-9584
sreekumar@ussilica.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-holdings-inc-announces-third-quarter-2020-results-301162497.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Oct. 8, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) announced today that it will release its third quarter 2020 financial results before the New York Stock Exchange opens on Thursday, Oct. 29, 2020. This release will be followed by a conference call for investors on Thursday, Oct. 29, 2020 at 7:30 a.m. Central Time to discuss the results. Hosting the call will be Bryan Shinn, chief executive officer, and Don Merril, executive vice president and chief financial officer.

Investors are invited to listen to a live webcast of the conference call by visiting the "Investor Resources" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13711449. The replay will be available through Nov. 28, 2020.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois.

U.S. Silica Holdings, Inc.

Investor Contact
Arjun Sreekumar
Director of Investor Relations
281-394-9584
sreekumar@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-timing-of-earnings-release-and-investor-call-301148683.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Aug. 7, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) (the "Company") today announced that Brad Casper has resigned from his position as the Company's President to pursue other opportunities effective August 31, 2020.

"Brad joined us nine years ago and has been an integral part of growing U.S. Silica into the diversified industrial minerals company that we are today. We appreciate Brad's numerous contributions to our success and wish him the best in his future endeavors," said Bryan Shinn, chief executive officer.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois.

U.S. Silica Holdings, Inc.

Investor Contact 
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-holdings-inc-announces-resignation-of-brad-casper-301108567.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, July 31, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA), a diversified industrial minerals company and the leading last-mile logistics provider to the oil and gas industry (the "Company"), today announced second quarter 2020 results, including a net loss of $32.4 million, or $(0.44) per basic and diluted share.

The second quarter results were negatively impacted by $33.4 million, or $0.35 per share, of charges related to asset impairments, plant startup and expansion, facility closure costs, and other adjustments, resulting in adjusted EPS for the second quarter of $(0.09) per basic and diluted share.

"I am extremely proud of our colleagues for delivering strong second quarter results, while continuing to prioritize health and safety, during these challenging times," said Bryan Shinn, chief executive officer. "Our operations and logistics teams did a stellar job of rapidly and aggressively right-sizing our cost structure to minimize the impact of sharply lower oilfield activity and weaker demand for some industrial sand products in the quarter. We have made commendable progress but still have additional cost reduction opportunities, particularly in the area of leased railcar costs. We continue to actively work with key lessors to complete necessary lease amendments to make our ongoing railcar costs sustainable over the long term."

"In July, we are experiencing a rebound in whole grain industrial sand sales as customers restart temporarily idled plants. We also expect our filtration product lines to continue to perform well, driven by robust consumer demand for food and beverage products. In the third quarter, Oil & Gas segment proppant volumes and SandBox loads are expected to increase sequentially," he added.

"Finally, while many industry peers pursue financial restructuring, we are keenly focused on serving our customers and maintaining a strong balance sheet. We remain confident that the strategic actions we have taken to further improve our cost structure will pay off handsomely once we return to a more normalized operating environment," he concluded.

Second Quarter 2020 Highlights

Total Company

• Revenue of $172.5 million for the second quarter of 2020 compared with $269.6 million in the first quarter of 2020, down 36% sequentially and down 56% from the second quarter of 2019.
• Overall tons sold of 1.904 million for the second quarter of 2020 compared with 4.161 million tons sold in the first quarter of 2020, down 54% sequentially and down 61% from the second quarter of 2019.
• Net loss of $32.4 million, or $(0.44) per basic and diluted share, for the second quarter of 2020, compared with net income of $6.2 million, or $0.08 earnings per basic and diluted share, for the second quarter of 2019.
• Contribution margin of $61.3 million for the second quarter of 2020 compared with $76.2 million in the first quarter of 2020, down 20% sequentially and down 50% from the second quarter of 2019.
• Adjusted EBITDA of $40.8 million for the second quarter of 2020 compared with $48.2 million in the first quarter of 2020, down 16% sequentially and down 52% from the second quarter of 2019.

Industrial and Specialty Products

• Revenue of $100.0 million for the second quarter of 2020 compared with $113.9 million in the first quarter of 2020, down 12% sequentially and down 18% from the second quarter of 2019.
• Tons sold totaled 0.792 million for the second quarter of 2020 compared with 0.959 million tons sold in the first quarter of 2020, down 17% sequentially and down 19% from the second quarter of 2019.
• Segment contribution margin of $35.1 million, or $44.34 per ton, for the second quarter of 2020 compared with $43.3 million in the first quarter of 2020, down 19% sequentially and down 30% from the second quarter of 2019.

The Industrial & Specialty Products segment experienced a 19% sequential decrease in contribution margin due to lower sales volumes as a result of the temporary idling of some sand customer facilities in the month of May and generally weaker demand from housing and automotive end markets due to the impacts of COVID-19. In addition to reduced volumes, the segment's contribution margin was impacted by lower fixed cost absorption across mixed-use plants and unfavorable customer mix.

Volumes and profits in the Company's filtration business, however, were flat sequentially due to robust demand for filtration media used in the food and beverage industry. In the second quarter, the Company initiated multiple trials and bench-scale testing for its blood plasma filtration product line with key multinational biopharma customers that yielded promising initial results. U.S. Silica also secured two new long-term contracts with multinational building materials companies for both whole grain and ground silica volumes.

Oil & Gas

• Revenue of $72.5 million for the second quarter of 2020 compared with $155.7 million in the first quarter of 2020, down 53% sequentially and down 73% from the second quarter of 2019.
• Tons sold of 1.112 million for the second quarter of 2020 compared with 3.202 million tons sold in the first quarter of 2020, down 65% sequentially and down 72% from the second quarter of 2019.
• Segment contribution margin of $26.2 million, or $23.53 per ton, for the second quarter of 2020 compared with $32.9 million in the first quarter of 2020, down 20% sequentially and down 63% from the second quarter of 2019.

In the Oil & Gas segment, the Company sold 1.112 million tons in the second quarter, down 65% from the prior quarter, as a result of sharply lower frac activity and well completions. However, despite the precipitous decline in oilfield activity, proppant pricing declined only 3% sequentially thanks to the strength of U.S. Silica's contract portfolio. The sharp reduction in proppant volumes was offset by $16.7 million of customer shortfall penalties and solid execution on the Company's cost-out program, which resulted in a 20% decline in segment contribution margin.

SandBox loads declined 71% during the quarter, in line with the reduction in completions activity, but are expected to increase meaningfully in the third quarter as key customers return to work and add more frac crews. During the quarter, SandBox was awarded full-service work with three leading operators in the Permian and Eagle Ford basins. The Company also signed a new delivered-to-the-well agreement with a leading energy customer in the quarter. With the recent addition of the Arrows Up offering to the U.S. Silica portfolio, the Company believes it now has a roughly one-third share in the last-mile logistics market.

Capital Update

As of June 30, 2020, the Company had $158.7 million in cash and cash equivalents and $63.0 million, including $12.0 million allocated for letters of credit, available under its credit facilities. Total debt outstanding under our credit facilities as of June 30, 2020 was $1.266 billion.

Capital expenditures in the second quarter totaled $7.1 million and were primarily associated with maintenance, cost improvement, and growth capital projects. The Company's forecast of capital expenditures for the full year 2020 is approximately $30.0 million, unchanged from the previous guidance and 75% lower than 2019 capital expenditures of $118.4 million.

Outlook  and Guidance

In the Industrial and Specialty Products segment, the Company expects a rebound in third quarter whole grain and higher-margin ground silica volumes as customers that had temporarily idled their facilities in May ramp back up. U.S. Silica's outlook calls for continued strength in its diatomaceous earth and specialty clays business, where market demand for filtration media remains robust.

As a result, the Company expects the ISP segment's contribution margin to be up 5%-10% in the third quarter compared with the second quarter. Fourth quarter volumes and profitability are expected to be similar to third quarter levels, although visibility remains limited given the highly uncertain economic environment.

In the Oil & Gas segment, U.S. Silica forecasts a mid-single-digits percentage increase in third quarter proppant volumes and a meaningful increase in SandBox loads. However, due to second quarter benefits from customer shortfall penalties, segment contribution margin is expected to be down sequentially, but the Company expects the underlying business should be stronger.

In the fourth quarter, the Company presently expects a mid-single-digits sequential increase in both proppant volumes and loads but acknowledges that visibility is limited. Unlike the past two years, where E&P budget exhaustion has resulted in a drop-off in fourth quarter activity, some customers have indicated the potential for a modest sequential increase this year, especially if WTI prices remain above $40/bbl.

Conference Call

U.S. Silica will host a conference call for investors today, July 31, 2020 at 7:30 a.m. Central Time to discuss these results. Hosting the call will be Bryan Shinn, chief executive officer, and Don Merril, executive vice president and chief financial officer. Investors are invited to listen to a live webcast of the conference call by visiting the "Investor Resources" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13707078. The replay will be available through August 31, 2020.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois.

Forward-looking Statements

The presentation referred to above contains "forward-looking statements" within the meaning of the federal securities laws - that is, statements about the future, not about past events. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "could," "can have," "likely" and other words and terms of similar meaning. Forward-looking statements made include any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements regarding the Company's growth opportunities, strategy, future financial results, forecasts, projections, plans and capital expenditures, technological innovations, ability to reduce costs or idle plants, the impacts of COVID-19 on the Company's operations, and the commercial silica industry. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves, fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; pricing pressure; weather and seasonal factors; the cyclical nature of our customers' business; our inability to meet our financial and performance targets and other forecasts or expectations; our substantial indebtedness and pension obligations, including restrictions on our operations imposed by our indebtedness; operational modifications, delays or cancellations; prices for electricity, natural gas and diesel fuel; our ability to maintain our transportation network; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, pharmaceuticals, and oil and gas production; silica-related health issues and corresponding litigation; and other risks and uncertainties detailed in this press release and our Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of the presentation referred to above, and we disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

Segment Contribution Margin

Segment contribution margin is a key metric that management uses to evaluate our operating performance and to determine resource allocation between segments. Segment contribution margin excludes selling, general, and administrative costs, corporate costs, plant capacity expenses, and facility closure costs.

The following table sets forth a reconciliation of net (loss) income, the most directly comparable GAAP financial measure, to segment contribution margin. 

Adjusted EBITDA

Adjusted EBITDA is not a measure of our financial performance or liquidity under GAAP and should not be considered as an alternative to net income (loss) as a measure of operating performance, cash flows from operating activities as a measure of liquidity or any other performance measure derived in accordance with GAAP. Additionally, Adjusted EBITDA is not intended to be a measure of free cash flow for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and cash costs to replace assets being depreciated and amortized, and excludes certain charges that may recur in the future. Management compensates for these limitations by relying primarily on our GAAP results and by using Adjusted EBITDA only supplementally. Our measure of Adjusted EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation.

The following table sets forth a reconciliation of net income (loss), the most directly comparable GAAP financial measure, to Adjusted EBITDA:

Supplemental Information

1)  What was the cash flow from operations for the second quarter of 2020 and do you expect to be free cash flow positive in 2020?

Cash flow from operations in the second quarter totaled $23.7 million and we generated $16.6 million in free cash flow after capital expenditures and $15.1 million after capital expenditures and dividend payments. We expect to end 2020 with more cash on the balance sheet than we started the year with. 

2)  What is the capex guidance for the full year 2020? What is the split between maintenance and growth capex?

We expect capital expenditures in 2020 to be approximately $30.0 million, unchanged from our previous guidance and 75% lower compared with 2019 capital expenditures. The split between maintenance and growth capex is approximately 50-50.

3)  How much Oil & Gas sand capacity has U.S. Silica idled to date?

To date, U.S. Silica has idled seven facilities and reduced capacity at six other facilities, thereby reducing its staffed annual Oil & Gas production capacity from 24 million tons to less than 6 million tons.

4)  What impact on your business do you expect as a result of several of your public and private peers undergoing restructuring?

We expect minimal impact to our business in the near-term as a result of peer bankruptcies and continue to monitor the situation closely. We have seen some early indications that certain customers, both on the Oil & Gas side and the Industrial side, may want to switch to financially stronger suppliers like U.S. Silica to ensure reliability and surety of supply.

U.S. Silica Holdings, Inc.

Investor Contacts 
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com  

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-holdings-inc-announces-second-quarter-2020-results-301103684.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, July 15, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) announced today that it will release its second quarter 2020 financial results before the New York Stock Exchange opens on Friday, July 31, 2020. This release will be followed by a conference call for investors on Friday, July 31, 2020 at 7:30 a.m. Central Time to discuss the results. Hosting the call will be Bryan Shinn, chief executive officer, and Don Merril, executive vice president and chief financial officer.

Investors are invited to listen to a live webcast of the conference call by visiting the "Investor Resources" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13707078. The replay will be available through August 31, 2020.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada, Chicago, Illinois and Houston, Texas.

U.S. Silica Holdings, Inc.

Investor Contacts 
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-timing-of-earnings-release-and-investor-call-301094333.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, May 8, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) ("U.S. Silica" or the "Company") today announced that its Board of Directors has elected to suspend the Company's quarterly cash dividend of $0.02 per common share until further notice.

U.S. Silica took this action as part of the Company's strategy to preserve capital and tightly manage its liquidity in a challenging commodity price environment.

"A great deal of thought and deliberation went into this decision and we fully understand its importance to our shareholders," said Bryan Shinn, chief executive officer.  "We believe that suspending our dividend at this time is in the best interest of the Company and shareholders as it allows us to preserve and invest that capital in opportunities within our industrial business that will generate higher long-term shareholder returns."

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada, Chicago, Illinois and Houston, Texas.

Forward-Looking Statements

The presentation referred to above contains "forward-looking statements" within the meaning of the federal securities laws - that is, statements about the future, not about past events. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "could," "can have," "likely" and other words and terms of similar meaning. Forward-looking statements made include any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements regarding the Company's strategy, future financial results, forecasts, projections, plans and capital expenditures, ability to reduce costs, the impacts of COVID-19 on the Company's operations, and the commercial silica industry. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves, fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; pricing pressure; weather and seasonal factors; the cyclical nature of our customers' business; our inability to meet our financial and performance targets and other forecasts or expectations; our substantial indebtedness and pension obligations, including restrictions on our operations imposed by our indebtedness; operational modifications, delays or cancellations; prices for electricity, natural gas and diesel fuel; our ability to maintain our transportation network; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, and oil and gas production; silica-related health issues and corresponding litigation; and other risks and uncertainties detailed in this press release and our Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of the presentation referred to above, and we disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

U.S. Silica Holdings, Inc.
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-suspension-of-quarterly-dividend-301055967.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, May 1, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA), a diversified industrial minerals company and the leading last-mile logistics provider to the oil and gas industry (the "Company"), today announced first quarter 2020 results, including a net loss of $72.3 million, or $(0.98) per basic and diluted share.

The first quarter results were negatively impacted by $103.9 million or $1.07 per share in goodwill and other asset impairments, $2.2 million or $0.02 per share in costs related to plant startup and expansion, $1.1 million or $0.01 per share in facility closure costs, $0.6 million or $0.01 per share related to merger and acquisition expenses, partly offset by $15.2 million or $0.16 per share in other adjustments, resulting in adjusted EPS for the first quarter of $(0.03) per basic and diluted share.

"I'd like to congratulate my colleagues on delivering a solid first quarter in 2020 while appropriately prioritizing personal health and safety," said Bryan Shinn, chief executive officer. "Despite the COVID-19 pandemic and energy market headwinds, we experienced minimal operational disruptions during the quarter thanks to the efforts of our team. While we recognize the challenges that lie ahead in our Oil & Gas segment, we are encouraged by the resilience of our Industrial & Specialty Products segment, which delivered double-digit profitability growth in the quarter."

"Looking ahead, we expect that our diatomaceous earth and specialty clay product lines in particular will continue to perform relatively well, spurred by strong demand for food and beverage filtration media. In our Oil & Gas segment, we expect that volumes and loads will directionally track completions activity, but, as with the 2015-2016 oilfield downturn, we expect to gain market share this year due to our attractive, low cost offerings," he added.

"We also remain laser focused on liquidity management and have rapidly aligned our cost structure and capacity with changing customer demand, which we believe will allow us to emerge from this downturn leaner, stronger and well-positioned to capitalize when the inevitable rebound occurs," he concluded.

First Quarter 2020 Highlights

Total Company

• Revenue of $269.6 million for the first quarter of 2020 compared with $339.1 million in the fourth quarter of 2019, down 20% sequentially and down 29% from the first quarter of 2019.
• Overall tons sold of 4.161 million for the first quarter of 2020 compared with 4.204 million tons sold in the fourth quarter of 2019, down 1% sequentially and down 14% from the first quarter of 2019.
• Contribution margin of $76.2 million for the first quarter of 2020 compared with $107.1 million in the fourth quarter of 2019, down 29% sequentially and down 26% from the first quarter of 2019.
• Net loss of $72.3 million, or $0.98 loss per basic and diluted share, for the first quarter of 2020, compared with net loss of $19.3 million, or $0.26 loss per basic and diluted share, for the first quarter of 2019.
• Adjusted EBITDA of $48.2 million for the first quarter of 2020 compared with $73.6 million in the fourth quarter of 2019, down 34% sequentially and down 30% from the first quarter of 2019.

Industrial and Specialty Products

• Revenue of $113.9 million for the first quarter of 2020 compared with $104.8 million in the fourth quarter of 2019, up 9% sequentially and down 4% from the first quarter of 2019.
• Tons sold totaled 0.959 million for the first quarter of 2020 compared with 0.842 million tons sold in the fourth quarter of 2019, up 14% sequentially and down 1% from the first quarter of 2019.
• Segment contribution margin of $43.3 million, or $45.20 per ton, for the first quarter of 2020 compared with $39.1 million in the fourth quarter of 2019, up 11% sequentially and down 3% from the first quarter of 2019.

The Industrial & Specialty Products segment experienced an 11% sequential increase in contribution margin, driven by overall growth in sales volumes and increased sales of higher-margin specialty products. In the first quarter, the Company grew its market share in the global diatomaceous earth filtration market by executing new contracts and extending current contracts with multiple multinational alcoholic beverage and brewing companies. The Company also raised prices and expanded margins in certain markets and signed a new contract with a global building products & equipment manufacturer, with volumes contracted through 2025.

Oil & Gas

• Revenue of $155.7 million for the first quarter of 2020 compared with $234.3 million in the fourth quarter of 2019, down 34% sequentially and down 40% from the first quarter of 2019.
• Tons sold of 3.202 million for the first quarter of 2020 compared with 3.362 million tons sold in the fourth quarter of 2019, down 5% sequentially and down 17% from the first quarter of 2019.
• Segment contribution margin of $32.9 million, or $10.27 per ton, for the first quarter of 2020 compared with $68.0 million in the fourth quarter of 2019, down 52% sequentially and down 44% from the first quarter of 2019.

In the Oil & Gas segment, the Company sold 3.202 million tons in the first quarter, down 5% from the prior quarter, as a result of slowing demand for Northern White Sand and the idling of the Tyler facility. However, pricing improved 3% during the quarter, driven primarily by gains in West Texas. The improvement in pricing, combined with significant cost reductions driven by the continued optimization of its transload network and efficiency improvements at its West Texas operations, resulted in a doubling of contribution margin dollars when adjusting for the one-time customer shortfall penalty recognized in the prior quarter.

In the first quarter, the Company signed a new contract with a leading energy customer. SandBox loads declined 14% during the quarter due to lower demand in the Mid-Con, South Texas and Rockies regions. The negotiated settlement acquisition of Arrows Up, which closed during the quarter, was accretive to first-quarter earnings and the Company is excited to welcome the Arrows Up team to its portfolio of dynamic offerings.

Capital Update

As of March 31, 2020, the Company had $144.7 million in cash and cash equivalents and $68.5 million, including $6.5 million allocated for letters of credit, available under its credit facilities. Total debt outstanding under our credit facilities as of March 31, 2020 was $1.244 billion.

Capital expenditures in the first quarter totaled $16.1 million and were primarily related to the payment of capital expenditures accrued in 2019 and improvements and expansions at the Company's industrial facilities in Millen, Georgia, and Columbia, South Carolina.

The Company's forecast of capital expenditures for the full year 2020 is expected to be $30.0 million, at the low end of the previously announced guidance of $30.0 to $40.0 million and 75% lower than 2019 capital expenditures of $118.4 million.

Outlook and Guidance

Due to the sharp decline in crude oil prices and the expected reduction in well completions, the Company expects its Oil & Gas segment sales next quarter to decline sharply. However, the Company's costs in this segment are highly variable and the Company will continue to right-size its operations accordingly. In response to these challenging conditions, the Company has idled or curtailed production at several facilities, reducing its staffed annual Oil & Gas production capacity from 24 million tons to 6 million tons.  

The Company expects a limited impact to its Industrial & Specialty Products segment, with sales volumes generally tracking GDP trends. The Company expects a decline in the segment's second-quarter sales as a result of temporary shutdowns by some customers in April and May related to COVID-19 and a slowing demand environment for some end markets like building products and automotive. However, the Company expects demand for other products, including diatomaceous earth and specialty clays used for the filtration of food and beverages, to remain relatively strong.

Conference Call

U.S. Silica will host a conference call for investors today, May 1, 2020 at 7:30 a.m. Central Time to discuss these results. Hosting the call will be Bryan Shinn, chief executive officer and Don Merril, executive vice president and chief financial officer. Investors are invited to listen to a live webcast of the conference call by visiting the "Investor Resources" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13702887. The replay will be available through June 1, 2020.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 23 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada, Chicago, Illinois and Houston, Texas.

Forward-looking Statements

The presentation referred to above contains "forward-looking statements" within the meaning of the federal securities laws - that is, statements about the future, not about past events. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "could," "can have," "likely" and other words and terms of similar meaning. Forward-looking statements made include any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements regarding the Company's growth opportunities, strategy, future financial results, forecasts, projections, plans and capital expenditures, ability to reduce costs or idle plants, the impacts of COVID-19 on the Company's operations, and the commercial silica industry. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves, fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; pricing pressure; weather and seasonal factors; the cyclical nature of our customers' business; our inability to meet our financial and performance targets and other forecasts or expectations; our substantial indebtedness and pension obligations, including restrictions on our operations imposed by our indebtedness; operational modifications, delays or cancellations; prices for electricity, natural gas and diesel fuel; our ability to maintain our transportation network; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, and oil and gas production; silica-related health issues and corresponding litigation; and other risks and uncertainties detailed in this press release and our Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of the presentation referred to above, and we disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

Segment Contribution Margin

Segment contribution margin is a key metric that management uses to evaluate our operating performance and to determine resource allocation between segments. Segment contribution margin excludes selling, general, and administrative costs, corporate costs, plant capacity expenses, and facility closure costs.

The following table sets forth a reconciliation of net income (loss), the most directly comparable GAAP financial measure, to segment contribution margin.

Adjusted EBITDA

Adjusted EBITDA is not a measure of our financial performance or liquidity under GAAP and should not be considered as an alternative to net income (loss) as a measure of operating performance, cash flows from operating activities as a measure of liquidity or any other performance measure derived in accordance with GAAP. Additionally, Adjusted EBITDA is not intended to be a measure of free cash flow for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and cash costs to replace assets being depreciated and amortized, and excludes certain charges that may recur in the future. Management compensates for these limitations by relying primarily on our GAAP results and by using Adjusted EBITDA only supplementally. Our measure of Adjusted EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation.

The following table sets forth a reconciliation of net income (loss), the most directly comparable GAAP financial measure, to Adjusted EBITDA:

Supplemental Information

1)  What impact has the COVID-19 pandemic had on your operations and financial condition? What impact do you expect it to have on future operations and financial condition?

To date, we have experienced minimal operational disruptions as a direct result of the COVID-19 pandemic. However, going forward we expect some demand weakness from some of our industrial end markets like building products and automotive as a result of disruptions related to COVID-19. However, we expect demand for other industrial products such as diatomaceous earth and specialty clays to remain relatively strong.  

2)  What is the capex guidance for the full year 2020? What is the split between maintenance and growth capex?

We expect capital expenditures in 2020 to be approximately $30.0 million, at the low end of the previous $30.0 to $40.0 million guidance and 75% lower compared with 2019 capital expenditures. The split between maintenance and growth capex is approximately 50-50.

3)  How much Oil & Gas sand capacity has U.S. Silica idled to date?

To date, U.S. Silica has idled seven facilities and reduced capacity at six other facilities, thereby reducing its staffed annual Oil & Gas production capacity from 24 million tons to 6 million tons.

U.S. Silica Holdings, Inc.

Investor Contacts 
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-holdings-inc-announces-first-quarter-2020-results-301050787.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, April 28, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced additional SG&A cost reductions of approximately $17 million in response to the COVID-19 pandemic and resulting lower North American oilfield well completion activity.  

The Company has closely monitored industry proppant demand to align costs with market conditions and is taking necessary actions including workforce reductions, 401k match suspension, elimination of 2020 raises for salaried employees, reduced senior executive salaries and curtailed operating hours at several facilities. 

"The decline in oil demand resulting from COVID-19 has driven a precipitous decline in crude oil prices resulting in lower expected near-term demand for well completion products and services such as our frac sand and last mile logistics offerings,'' said Bryan Shinn, chief executive officer. ''The strategic actions announced today, along with our balanced business portfolio of industrial customers, will position us well to continue to outperform our competition in the short term and emerge from the economic downturn in an advantaged position."

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 25 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada, Chicago, Illinois and Houston, Texas.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "believe," "plan," "estimate," "intend," "anticipate," "should," "could," "will," "see," "likely," and other similar words. Forward-looking statements made include any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements regarding the U.S. Silica's expected annual SG&A savings, ability to reduce costs or idle plants, the general economic conditions, the duration of the COVID-19 pandemic and U.S Silica's results of operations. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves; fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; pricing pressure; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, and oil and gas production; and other risks and uncertainties detailed in this press release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date made, and the Company disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

U.S. Silica Holdings, Inc.
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-additional-cost-reduction-actions-301048804.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, April 24, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) (the "Company") today announced a location change for its 2020 Annual Meeting of Stockholders (the "Annual Meeting"), scheduled for May 7, 2020 at 9:00 a.m., Central Time, to the offices of the Company at 24275 Katy Freeway, Katy, Texas 77494, due to the unavailability of the previous location of the Annual Meeting due to the Coronavirus/COVID-19 outbreak.

As described in the proxy materials previously distributed, you are entitled to participate in the Annual Meeting if you were a stockholder as of the close of business on March 9, 2020, the record date, or hold a legal proxy for the meeting provided by your bank, broker, or nominee. Whether or not you plan to attend the Annual Meeting, we urge you to vote and submit your proxy in advance of the meeting by one of the methods described in the proxy materials for the Annual Meeting. The proxy card included with the proxy materials previously distributed will not be updated to reflect the change in location and may continue to be used to vote your stock in connection with the Annual Meeting.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 25 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada, Chicago, Illinois and Houston, Texas.

U.S. Silica Holdings, Inc. 
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-location-change-for-its-annual-meeting-of-stockholders-on-may-7-2020-301047081.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, April 24, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced temporary pay reductions for its top executives and board in response to the COVID-19 pandemic and expected lower oilfield well completion activity.

The CEO, Bryan Shinn, members of the board of directors and company officers have volunteered to take up to a 20% temporary base salary reduction. The duration of these reductions will be dictated by market conditions.

"We continue to make difficult but necessary decisions to right-size our costs and believe that we need to lead by example," said Shinn.  "I am very proud of the work that our teams are doing in these unprecedented times and we continue to prioritize the health and safety of our colleagues.  I expect that with our balanced business portfolio we will continue to outperform our competition and emerge from the economic downturn in a strong position."

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 25 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada, Chicago, Illinois and Houston, Texas.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "believe," "plan," "estimate," "intend," "anticipate," "should," "could," "will," "see," "likely," and other similar words. Forward-looking statements made include any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements regarding the U.S. Silica's expected annual SG&A savings, ability to reduce costs or idle plants, the general economic conditions, the duration of the COVID-19 pandemic and U.S Silica's results of operations. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves; fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; pricing pressure; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, and oil and gas production; and other risks and uncertainties detailed in this press release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date made, and the Company disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

U.S. Silica Holdings, Inc.
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-salary-reductions-for-top-executives-301046848.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, April 23, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) announced today that it will release its first quarter 2020 financial results before the New York Stock Exchange opens on Friday, May 1, 2020. This release will be followed by a conference call for investors on Friday, May 1, 2020 at 7:30 a.m. Central Time to discuss the results. Hosting the call will be Bryan Shinn, chief executive officer, and Don Merril, executive vice president and chief financial officer.

Investors are invited to listen to a live webcast of the conference call by visiting the "Investor Resources" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13702887. The replay will be available through June 1, 2020.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 25 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada, Chicago, Illinois and Houston, Texas.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "believe," "plan," "estimate," "intend," "anticipate," "should," "could," "will," "see," "likely," and other similar words. Forward-looking statements made include any statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves; fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; pricing pressure; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, and oil and gas production; and other risks and uncertainties detailed in this press release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date made, and the Company disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

U.S. Silica Holdings, Inc.

Investor Contacts 
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-timing-of-earnings-release-and-investor-call-301046567.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, March 24, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced annualized SG&A cost reductions of approximately $20 million in response to the recent drop in oil prices and the expected decline in drilling and completion activity in North American shale over the coming quarters.

Additionally, the Company plans to idle its Sparta, Wisconsin facility, taking 1.5 million tons of Oil & Gas proppant capacity offline. The Company will continue to closely monitor industry proppant demand to align costs with market conditions.

"The headwinds created by recent OPEC actions led to the difficult decisions we are announcing today,'' said Bryan Shinn, chief executive officer. ''These strategic actions, supported by the more consistent earnings and cash flows of our Industrial & Specialty Products segment, will help U.S. Silica remain the industry leader and continue to provide our customers outstanding products and services." he added.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 400 diversified product types to customers across its multiple end markets. U.S. Silica's wholly owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 25 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada, Chicago, Illinois and Houston, Texas.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "believe," "plan," "estimate," "intend," "anticipate," "should," "could," "will," "see," "likely," and other similar words. Forward-looking statements made include any statement that does not directly relate to any historical or current fact and may include, but are not limited to, statements regarding the Company's expected annual SG&A savings, ability to reduce costs or idle plants, and the commercial silica industry. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are global economic conditions; the effect of the COVID-19 pandemic on markets the Company serves; fluctuations in demand for commercial silica, diatomaceous earth, perlite, clay and cellulose; fluctuations in demand for frac sand or the development of either effective alternative proppants or new processes to replace hydraulic fracturing; the entry of competitors into our marketplace; changes in production spending by companies in the oil and gas industry and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; pricing pressure; changes in government regulations and regulatory requirements, including those related to mining, explosives, chemicals, and oil and gas production; and other risks and uncertainties detailed in this press release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date made, and the Company disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

U.S. Silica Holdings, Inc. 
Arjun Sreekumar
Manager, Treasury and Investor Relations
281-394-9584
sreekumar@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-additional-cost-reduction-actions-301029240.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Feb. 10, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) ("U.S. Silica" or the "Company") today announced that its Board of Directors has elected to reduce the Company's quarterly cash dividend to $0.02 per common share from the current quarterly cash dividend of $0.0625 per common share. The dividend is payable April 3, 2020 to shareholders of record as of March 13, 2020.

"I understand the importance of this decision to our shareholders and we will continue to take a deliberate and thoughtful approach to our capital allocation choices," said Bryan Shinn, U.S. Silica chief executive officer.  "We believe that reducing our dividend at this time is in the best interest of the Company and shareholders as it will allow us to make additional investments in our growing industrial and logistics businesses and provides greater flexibility to reallocate capital to reduce debt and repurchase shares.''

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 1,500 diversified products to customers across its multiple end markets. U.S. Silica's wholly-owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 25 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois. 

U.S. Silica Holdings, Inc. 
Michael Lawson
Vice President of Investor Relations and Corporate Communications
301-682-0304
lawsonm@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-adjusts-quarterly-dividend-to-align-with-capital-allocation-strategy-301002121.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Jan. 17, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) announced today that it will release its fourth quarter and full year 2019 financial results before the New York Stock Exchange opens on Tuesday, Feb. 25, 2020. This release will be followed by a conference call for investors on Tuesday, Feb. 25, 2020 at 7:30 a.m. Central Time to discuss the results. Hosting the call will be Bryan Shinn, chief executive officer and Don Merril, executive vice president and chief financial officer.

Investors are invited to listen to a live webcast of the conference call by visiting the "Investor Resources" section of the Company's website at www.ussilica.com. The webcast will be archived for one year. The call can also be accessed live over the telephone by dialing (877) 869-3847 or for international callers, (201) 689-8261. A replay will be available shortly after the call and can be accessed by dialing (877) 660-6853 or for international callers, (201) 612-7415. The conference ID for the replay is 13698158. The replay will be available through March 25, 2020.

About U.S. Silica

U.S. Silica Holdings, Inc. is a performance materials company and is a member of the Russell 2000. The Company is a leading producer of commercial silica used in the oil and gas industry, and in a wide range of industrial applications. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 1,500 diversified products to customers across our end markets. U.S. Silica's wholly-owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 25 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois.

U.S. Silica Holdings, Inc.
Investor Contact 
Michael Lawson
Vice President of Investor Relations and Corporate Communications
301-682-0304
lawsonm@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-timing-of-earnings-release-and-investor-call-300989025.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Jan. 9, 2020 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced the promotion of Brad Casper to the role of President as part of the Company's long-term succession planning, with Bryan Shinn continuing as U.S. Silica's Chief Executive Officer and a member of the Board of Directors.

"Brad has been an integral part of our leadership team for a long time. We are delighted to see his hard work pay off with this promotion.  I look forward to working with Brad in his new capacity,'' said Mr. Shinn.

"I appreciate the confidence that Bryan and the other members of the Board have placed in me.  I look forward to working with Bryan and the rest of the team to grow U.S. Silica," said Mr. Casper.

Mr. Casper previously served as the Company's Chief Commercial Officer since May 2015 and as an Executive Vice President since July 2016. He was Vice President of Strategic Planning from May 2011 until his promotion to Chief Commercial Officer in May 2015. Before joining U.S. Silica, Mr. Casper was at Bain & Company, Inc., where he held various positions from 2002 to May 2011 in the United States, Australia and Hong Kong, most recently serving as a Principal from July 2010 to May 2011. Mr. Casper earned a B.S. in Accounting from the University of Illinois at Urbana-Champaign and an M.B.A. from the Wharton School at the University of Pennsylvania.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 120-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 1,500 diversified products to customers across its multiple end markets. U.S. Silica's wholly-owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 25 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "believe," "plan," "estimate," "intend," "anticipate," "should," "could," "will," "see," "likely," and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements regarding the Company's expected annual SG& A savings. The Company cannot give any assurance that such statements will prove correct. These statements are subject to, among other things, the risks and uncertainties detailed in the Company's most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. Actual outcomes may vary materially from those reflected in the forward-looking statements. The forward-looking statements speak only as of the date made, and the Company disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

U.S. Silica Holdings, Inc. 
Michael Lawson
Vice President of Investor Relations and Corporate Communications
301-682-0304
lawsonm@ussilica.com 

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-promotes-brad-casper-to-president-300983860.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Dec. 3, 2019 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) said today that part of its Industrial and Specialty Products business will increase prices for most of its non-contracted silica sand, aggregate diatomaceous earth and clay products used primarily in foundry, paints, coatings, elastomers, roofing, chemicals, recreation, building products, agricultural, pet litter and other applications.

Price increases will range up to 6 percent, depending on the product and grade. Additionally, prices for whole grain sand used in glass applications will increase by up to 5 percent. The increases for aggregate diatomaceous earth and clay were effective for shipments started Nov. 1, 2019.  The increases for silica sand are effective for shipments starting Jan. 1, 2020.

The price increases are being made to support the continued investments the Company is making in upgrading its capacity to meet the growing demand for its products and to offset rising production costs.

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 119-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 1,500 diversified products to customers across its multiple end markets. U.S. Silica's wholly-owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 27 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois. 

U.S. Silica Holdings, Inc.

Michael Lawson
Vice President of Investor Relations and Corporate Communications
(301) 682-0304
lawsonm@ussilica.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-silica-announces-price-increases-on-industrial-and-specialty-products-300968208.html

SOURCE U.S. Silica Holdings, Inc.

KATY, Texas, Nov. 22, 2019 /PRNewswire/ -- U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced a reduction in its workforce of approximately 230 employees to improve efficiencies and better align operations and support staffing with the current challenges in its energy markets.  Expected annual SG&A savings from these actions as well as other cost reductions are approximately $20 million.

The staffing reductions equal approximately 10% of the total company workforce and include corporate employees and the idling of both the Utica, Illinois and Tyler, Texas mines.  Other facilities impacted, but not idled are; Crane County in Texas, Sparta, Wisconsin, and Festus, Missouri.  The workforce reduction in operations will reduce staffed O&G capacity by 7 million tons, which will be better aligned with current demand.

The Company expects to incur approximately $1.7 million in related severance costs in the fourth quarter of 2019 and will consider any impairment charges as it closes the fourth quarter and fiscal year end.

"The difficult decisions announced today are an important element of our plan to protect margins and generate free cash flow in an increasingly competitive oil and gas completions market," said Bryan Shinn, president and chief executive officer.  "The actions taken realign our operational footprint and cost structure to more efficiently serve energy customers while simultaneously supporting the expected growth of our Industrials & Specialty Products segment.''

About U.S. Silica

U.S. Silica Holdings, Inc. is a global performance materials company and last-mile logistics provider and is a member of the Russell 2000 Index. The Company is a leading producer of commercial silica used in a wide range of industrial applications and in the oil and gas industry. Over its 119-year history, U.S. Silica has developed core competencies in mining, processing, logistics and materials science that enable it to produce and cost-effectively deliver over 1,500 diversified products to customers across its multiple end markets. U.S. Silica's wholly-owned subsidiaries include EP Minerals and SandBox Logistics™. EP Minerals is an industry leader in the production of products derived from diatomaceous earth, perlite, engineered clays, and non-activated clays. SandBox Logistics™ is a state-of-the-art leader in proppant storage, handling and well-site delivery, dedicated to making proppant logistics cleaner, safer and more efficient. The Company currently operates 27 mines and production facilities. The Company is headquartered in Katy, Texas and has offices in Reno, Nevada and Chicago, Illinois

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as "expect," "may," "believe," "plan," "estimate," "intend," "anticipate," "should," "could," "will," "see," "likely," and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements regarding the Company's expected annual SG& A savings. The Company cannot give any assurance that such statements will prove correct. These statements are subject to, among other things, the risks and uncertainties detailed in the Company's most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. Actual outcomes may vary materially from those reflected in the forward-looking statements. The forward-looking statements speak only as of the date made, and the Company disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

U.S. Silica Holdings, Inc. 
Michael Lawson
Vice President of Investor Relations and Corporate Communications
301-682-0304
lawsonm@ussilica.com