Thursday, October 31, 2013

Carbo Ceramics Blow Past Analysts Expectations

Disclaimer: this is not an investment site.  Do not many any investment decisions based on what you read here or what you think you might have read here. 

From Yahoo!In-Play:
Carbo Ceramics beats by $0.48, beats on revs (CRR) 97.68 : Reports Q3 (Sep) earnings of $1.31 per share, $0.48 better than the Capital IQ Consensus Estimate of $0.83; revenues rose 33.4% year/year to $201.5 mln vs the $161.03 mln consensus.

The increase in revs was mainly attributed to a 48% increase in proppant sales volumes offset by a 6% decrease in the average proppant selling price for all proppants. North American (defined as Canada and the U.S.) proppant sales volumes increased 63%, while international proppant sales volumes decreased 17%, compared to the same period last year. 
CRR is surging $21 today, up 21%. No typo. Up 21% today. And the rich get richer. I think I first blogged about CRR back in 2009, maybe earlier. This was my August 7, 2010, post on Carbo Ceramics. At that post, I was in a hurry, but specifically singled out CRR as something folks should read about and finished with this, back in 2010:
I am easily swayed by presentations and earnings reports, but reading the "tea leaves" suggests to me that there are some very interesting things going on in the Bakken. I am accused of being inappropriately exuberant, but I feel even more so going into this next week. If we slip into a double-dip recession and price of oil drops back to below $60, I won't feel so good, but it will be another buying opportunity: a) the bigger companies have hedged their prices; and, b) the long term trend for the price of oil is up, at least in my mind.
Wow, "... some interesting things going on in the Bakken." Talk about an understatement.

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