KATY, Texas, July 29, 2021 /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 net income of
$26.0 million, or $0.34 per diluted share, for the second quarter
ended June 30, 2021, compared with a
net loss of $20.8 million, or
$0.28 per diluted share, for the
first quarter of 2021.
The second quarter results were positively impacted by
$46.9 million net, or $0.46 per diluted share, due to a customer
settlement of $48.9 million, or
$0.49 per diluted share, recorded in
the Oil & Gas segment, and partially offset by delayed winter
weather impacts and facility closure costs.
Bryan Shinn, Chief Executive
Officer, commented, "Our strong financial and operational
performance during the second quarter exceeded both revenue and
Adjusted EBITDA expectations. Additionally, we recorded sequential
volume growth in both of our operating segments, supported by the
broader market recovery and constructive commodity prices.
"In the Industrial & Specialty Products segment, second
quarter revenue grew at a rate that exceeded GDP growth and we
recently announced our third price increase this year for our
industrial and specialty products beginning September 1st. Our Oil & Gas segment
benefited from strong commodity prices and completions activity, as
we out-executed our competition and gained market share in the
second quarter, which drove sequential increases in proppant
volumes and SandBox delivered loads.
"I'm also happy to report that in late June, we came to an
agreement with a customer to settle a dispute regarding fees
related to minimum purchase commitments from 2014-2020. As a result
of this resolution, the Company received approximately $128 million of consideration, including
$90 million in cash. Half of the cash
settlement amount was received in the second quarter and the
balance was received in July. We have used a portion of this
settlement to pay off our outstanding revolver balance of
$25 million.
"Our commitment to deleveraging the balance sheet remains a key
corporate initiative. As the macro environment continues to
improve, we are focused on prioritizing free cash flow, growing the
Industrial & Specialty Products segment, and maximizing
efficiencies in the Oil & Gas segment."
Second Quarter 2021 Highlights
Total Company
- Revenue of $317.3 million for the
second quarter of 2021 increased 84% when compared with the second
quarter of 2020 and increased 35% compared with $234.4 million in the first quarter of 2021.
However, excluding the $48.9 million
benefit in the Oil & Gas segment related to a customer
settlement, revenue increased 15% sequentially.
- Overall tons sold of 4.104 million for the second quarter of
2021 increased 15% compared with 3.561 million tons sold in the
first quarter of 2021 and increased 116% when compared with the
second quarter of 2020.
- Contribution margin of $128.6
million for the second quarter of 2021 increased 110% when
compared with the second quarter of 2020 and increased 109%
compared with $61.6 million in the
first quarter of 2021. However, excluding the $48.9 million benefit in the Oil & Gas
segment, contribution margin increased 29% sequentially. In
addition, costs associated with delayed winter weather impact and
facility closure costs negatively impacted the second quarter.
- Adjusted EBITDA of $103.3 million
for the second quarter of 2021 increased 170% compared with
$38.3 million in the first quarter of
2021. However, excluding the $48.9
million benefit in the Oil & Gas segment, adjusted
EBITDA increased 42% sequentially.
Industrial & Specialty Products (ISP)
- Revenue of $124.0 million for the
second quarter of 2021 increased 10% compared with $112.7 million in the first quarter of 2021, and
increased 24% when compared with the second quarter of 2020.
- Tons sold totaled 1.08 million for the second quarter of 2021
increased 10% compared with 0.984 million tons sold in the first
quarter of 2021, and increased 36% when compared with the second
quarter of 2020.
- Segment contribution margin of $45.9
million, or $42.50 per ton,
for the second quarter of 2021 increased 15% compared with
$40.0 million in the first quarter of
2021, and increased 31% when compared with the second quarter of
2020.
Oil & Gas
- Revenue of $193.3 million for the
second quarter of 2021 increased 59% when compared with
$121.7 million in the first quarter
of 2021 and increased 167% when compared with the second quarter of
2020. However, excluding the $48.9
million customer settlement, revenue increased 19%
sequentially.
- Tons sold of 3.024 million for the second quarter of 2021
increased 17% compared with 2.577 million tons sold in the first
quarter of 2021, and increased 172% when compared with the second
quarter of 2020.
- Segment contribution margin of $82.7
million, or $27.35 per ton,
increased 285% when compared with $21.5
million in the first quarter of 2021 and increased 216% when
compared with the second quarter of 2020. However, excluding the
$48.9 million customer settlement,
segment contribution margin increased 57% sequentially.
Capital Update
As of June 30, 2021, the Company had $212.7 million in cash and cash equivalents and
total debt was $1.235 billion. The
Company's $100.0 million Revolver had
$25.0 million drawn, with
$22.0 million allocated for letters
of credit, and availability of $53.0
million. On July 27, 2021, the
Company paid off its $25.0 million
outstanding Revolver balance. Capital expenditures in the second
quarter totaled $3.6 million. During
the second quarter of 2021, the Company generated $68.3 million in cash flow from operations
including the cash settlement. However, excluding the $48.9 million customer settlement, cash flow from
operations would have been $23.3
million. The Company remains focused on building on
its fundamental operating successes, its disciplined approach to
expanding its business, ensuring that it generates sustainable free
cash flow and continuing to de-lever its balance sheet.
Outlook and Guidance
Looking ahead to the second half of 2021 and beyond, the Company
is well positioned for sustainable, long-term growth. The Company
has a strong portfolio of industrial and specialty products,
supported by a robust pipeline of new products under development as
well as recent pricing increases.
The Industrial & Specialty Products segment continues to
prove its strength and stability through cycles.
The oil and gas industry is progressing through a transitional
year of what is forecasted to be a multi-year growth cycle as
economic activity recovers. The first half of 2021 was marked by
strong WTI crude oil prices and the completion of previously
drilled but uncompleted wells. Progressing through the second half
of 2021, customer spending in the Oil & Gas segment is
anticipated to rebalance from well completions towards drilling
activity.
The Company expects to deliver positive free cash flow this year
and to continue to reduce net debt by year end.
Conference Call
U.S. Silica will host a conference call for investors today,
July 29, 2021 at 8:00 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 "Investors" 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 13721444. The replay will be
available through August 29,
2021.
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 121-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 600 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 24
mines and production facilities and is headquartered in
Katy, Texas.
Forward-looking Statements
This second quarter 2021 earnings release, as well as other
statements we make, contain "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 U.S. Silica's growth
opportunities, strategy, future financial results, forecasts,
projections, plans and capital expenditures, technological
innovations, 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, and oil and gas production; silica-related
health issues and corresponding litigation; 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 hereof, 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.
|
SELECTED FINANCIAL
DATA FROM CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
|
(Unaudited;
dollars in thousands, except per share amounts)
|
|
|
Three Months
Ended
|
|
June
30,
2021
|
|
March 31,
2021
|
|
June
30,
2020
|
Total sales
|
$
|
317,301
|
|
|
$
|
234,416
|
|
|
$
|
172,537
|
|
Total cost of sales
(excluding depreciation, depletion and amortization)
|
192,955
|
|
|
176,989
|
|
|
124,743
|
|
Operating
expenses:
|
|
|
|
|
|
Selling, general and
administrative
|
27,509
|
|
|
26,224
|
|
|
39,126
|
|
Depreciation,
depletion and amortization
|
41,165
|
|
|
41,348
|
|
|
37,086
|
|
Goodwill and other
asset impairments
|
—
|
|
|
38
|
|
|
3,956
|
|
Total operating
expenses
|
68,674
|
|
|
67,610
|
|
|
80,168
|
|
Operating income
(loss)
|
55,672
|
|
|
(10,183)
|
|
|
(32,374)
|
|
Other (expense)
income:
|
|
|
|
|
|
Interest
expense
|
(17,918)
|
|
|
(17,711)
|
|
|
(22,179)
|
|
Other (expense)
income, net, including interest income
|
(186)
|
|
|
2,605
|
|
|
(1,670)
|
|
Total other
expense
|
(18,104)
|
|
|
(15,106)
|
|
|
(23,849)
|
|
Income (loss) before
income taxes
|
37,568
|
|
|
(25,289)
|
|
|
(56,223)
|
|
Income tax (expense)
benefit
|
(11,666)
|
|
|
4,354
|
|
|
23,605
|
|
Net income
(loss)
|
$
|
25,902
|
|
|
$
|
(20,935)
|
|
|
$
|
(32,618)
|
|
Less: Net loss
attributable to non-controlling interest
|
(126)
|
|
|
(157)
|
|
|
(264)
|
|
Net income (loss)
attributable to U.S. Silica Holdings, Inc.
|
$
|
26,028
|
|
|
$
|
(20,778)
|
|
|
$
|
(32,354)
|
|
|
|
|
|
|
|
Earnings (loss) per
share attributable to U.S. Silica Holdings, Inc.:
|
|
|
|
|
|
Basic
|
$
|
0.35
|
|
|
$
|
(0.28)
|
|
|
$
|
(0.44)
|
|
Diluted
|
$
|
0.34
|
|
|
$
|
(0.28)
|
|
|
$
|
(0.44)
|
|
Weighted average
shares outstanding:
|
|
|
|
|
|
Basic
|
74,339
|
|
|
73,927
|
|
|
73,620
|
|
Diluted
|
76,136
|
|
|
73,927
|
|
|
73,620
|
|
Dividends declared
per share
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
U.S. SILICA
HOLDINGS, INC.
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
Unaudited; dollars
in thousands)
|
|
|
June 30,
2021
|
|
December 31,
2020
|
|
|
|
|
ASSETS
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
212,700
|
|
|
$
|
150,920
|
|
Accounts receivable,
net
|
223,229
|
|
|
206,934
|
|
Inventories,
net
|
113,346
|
|
|
104,684
|
|
Prepaid expenses and
other current assets
|
19,915
|
|
|
23,147
|
|
Income tax
deposits
|
—
|
|
|
628
|
|
Total current
assets
|
569,190
|
|
|
486,313
|
|
Property, plant and
mine development, net
|
1,300,211
|
|
|
1,368,092
|
|
Lease right-of-use
assets
|
37,103
|
|
|
37,469
|
|
Goodwill
|
185,649
|
|
|
185,649
|
|
Intangible assets,
net
|
154,815
|
|
|
159,582
|
|
Other
assets
|
8,310
|
|
|
9,842
|
|
Total
assets
|
$
|
2,255,278
|
|
|
$
|
2,246,947
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
Current
Liabilities:
|
|
|
|
Accounts payable and
accrued expenses
|
$
|
135,595
|
|
|
$
|
121,920
|
|
Current portion of
operating lease liabilities
|
15,074
|
|
|
17,388
|
|
Current portion of
long-term debt
|
38,841
|
|
|
42,042
|
|
Current portion of
deferred revenue
|
10,464
|
|
|
13,545
|
|
Total current
liabilities
|
199,974
|
|
|
194,895
|
|
Long-term debt,
net
|
1,196,409
|
|
|
1,197,660
|
|
Deferred
revenue
|
17,053
|
|
|
20,147
|
|
Liability for pension
and other post-retirement benefits
|
31,739
|
|
|
48,169
|
|
Deferred income
taxes, net
|
57,148
|
|
|
49,386
|
|
Operating lease
liabilities
|
71,068
|
|
|
76,361
|
|
Other long-term
liabilities
|
33,148
|
|
|
33,538
|
|
Total
liabilities
|
1,606,539
|
|
|
1,620,156
|
|
Stockholders'
Equity:
|
|
|
|
Preferred
stock
|
—
|
|
|
—
|
|
Common
stock
|
837
|
|
|
827
|
|
Additional paid-in
capital
|
1,207,670
|
|
|
1,200,023
|
|
Retained
deficit
|
(390,238)
|
|
|
(395,496)
|
|
Treasury stock, at
cost
|
(183,420)
|
|
|
(181,615)
|
|
Accumulated other
comprehensive income (loss)
|
3,161
|
|
|
(8,479)
|
|
Total U.S. Silica
Holdings, Inc. stockholders' equity
|
638,010
|
|
|
615,260
|
|
Non-controlling
interest
|
10,729
|
|
|
11,531
|
|
Total stockholders'
equity
|
648,739
|
|
|
626,791
|
|
Total liabilities and
stockholders' equity
|
$
|
2,255,278
|
|
|
$
|
2,246,947
|
|
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.
(All amounts
in thousands)
|
Three Months
Ended
|
|
June
30,
2021
|
|
March 31,
2021
|
|
June
30,
2020
|
Sales:
|
|
|
|
|
|
Oil & Gas
Proppants
|
$
|
193,298
|
|
|
$
|
121,697
|
|
|
$
|
72,495
|
|
Industrial &
Specialty Products
|
124,003
|
|
|
112,719
|
|
|
100,042
|
|
Total sales
|
317,301
|
|
|
234,416
|
|
|
172,537
|
|
Segment contribution
margin:
|
|
|
|
|
|
Oil & Gas
Proppants
|
82,676
|
|
|
21,540
|
|
|
26,170
|
|
Industrial &
Specialty Products
|
45,939
|
|
|
40,038
|
|
|
35,119
|
|
Total segment
contribution margin
|
128,615
|
|
|
61,578
|
|
|
61,289
|
|
Operating activities
excluded from segment cost of sales
|
(4,269)
|
|
|
(4,151)
|
|
|
(13,495)
|
|
Selling, general and
administrative
|
(27,509)
|
|
|
(26,224)
|
|
|
(39,126)
|
|
Depreciation,
depletion and amortization
|
(41,165)
|
|
|
(41,348)
|
|
|
(37,086)
|
|
Goodwill and other
asset impairments
|
—
|
|
|
(38)
|
|
|
(3,956)
|
|
Interest
expense
|
(17,918)
|
|
|
(17,711)
|
|
|
(22,179)
|
|
Other (expense)
income, net, including interest income
|
(186)
|
|
|
2,605
|
|
|
(1,670)
|
|
Income tax (expense)
benefit
|
(11,666)
|
|
|
4,354
|
|
|
23,605
|
|
Net income
(loss)
|
$
|
25,902
|
|
|
$
|
(20,935)
|
|
|
$
|
(32,618)
|
|
Less: Net loss
attributable to non-controlling interest
|
(126)
|
|
|
(157)
|
|
|
(264)
|
|
Net income (loss)
attributable to U.S. Silica Holdings, Inc.
|
$
|
26,028
|
|
|
$
|
(20,778)
|
|
|
$
|
(32,354)
|
|
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:
(All amounts in
thousands)
|
Three Months
Ended
|
|
June
30,
2021
|
|
March 31,
2021
|
|
June
30,
2020
|
Net income (loss)
attributable to U.S. Silica Holdings, Inc.
|
$
|
26,028
|
|
|
$
|
(20,778)
|
|
|
$
|
(32,354)
|
|
Total interest
expense, net of interest income
|
17,902
|
|
|
15,803
|
|
|
21,295
|
|
Provision for
taxes
|
11,666
|
|
|
(4,354)
|
|
|
(23,605)
|
|
Total depreciation,
depletion and amortization expenses
|
41,165
|
|
|
41,348
|
|
|
37,086
|
|
EBITDA
|
96,761
|
|
|
32,019
|
|
|
2,422
|
|
Non-cash incentive
compensation (1)
|
3,954
|
|
|
4,574
|
|
|
4,388
|
|
Post-employment
expenses (excluding service costs) (2)
|
363
|
|
|
363
|
|
|
527
|
|
Merger and
acquisition related expenses (3)
|
109
|
|
|
194
|
|
|
386
|
|
Plant capacity
expansion expenses (4)
|
19
|
|
|
41
|
|
|
2,390
|
|
Goodwill and other
asset impairments (5)
|
—
|
|
|
38
|
|
|
3,956
|
|
Business optimization
projects (6)
|
4
|
|
|
39
|
|
|
(4)
|
|
Facility closure
costs (7)
|
490
|
|
|
502
|
|
|
2,738
|
|
Other adjustments
allowable under the Credit Agreement (8)
|
1,586
|
|
|
546
|
|
|
23,963
|
|
Adjusted
EBITDA
|
$
|
103,286
|
|
|
$
|
38,316
|
|
|
$
|
40,766
|
|
|
|
|
(1)
|
Reflects equity-based
and other equity-related compensation expense.
|
(2)
|
Includes net pension
cost and net post-retirement cost relating to pension and other
post-retirement benefit obligations during the applicable period,
but in each case excluding the service cost relating to benefits
earned during such period. Non-service net periodic benefit costs
are not considered reflective of our operating performance because
these costs do not exclusively originate from employee services
during the applicable period and may experience periodic
fluctuations as a result of changes in non-operating factors,
including changes in discount rates, changes in expected returns on
benefit plan assets, and other demographic actuarial
assumptions.
|
(3)
|
Merger and
acquisition related expenses include legal fees, consulting fees,
bank fees, severance costs, certain purchase accounting items such
as the amortization of inventory fair value step-up, information
technology integration costs and similar charges. While these costs
are not operational in nature and are not expected to continue for
any singular transaction on an ongoing basis, similar types of
costs, expenses and charges have occurred in prior periods and may
recur in the future as we continue to integrate prior acquisitions
and pursue any future acquisitions.
|
(4)
|
Plant capacity
expansion expenses include expenses that are not inventoriable or
capitalizable as related to plant expansion projects greater than
$5 million in capital expenditures or plant start up
projects. While these expenses are not operational in nature
and are not expected to continue for any singular project on an
ongoing basis, similar types of expenses have occurred in prior
periods and may recur in the future if we continue to pursue future
plant capacity expansion.
|
(5)
|
The three months
ended March 31, 2021 and June 30, 2020 reflect impairment charges
of $38 thousand and $4.0 million, respectively, related to
long-lived assets, operating lease right-of-use assets and
inventory related to idled facilities in our Oil & Gas
Proppants segment.
|
(6)
|
Reflects costs
incurred related to business optimization projects within our
corporate center, which aim to measure and improve the efficiency,
productivity and performance of our organization. While these costs
are not operational in nature and are not expected to continue for
any singular project on an ongoing basis, similar types of expenses
may recur in the future.
|
(7)
|
Reflects costs
incurred related to idled sand facilities and closed corporate
offices, including severance costs and remaining contracted costs
such as office lease costs, maintenance, and utilities. While these
costs are not operational in nature and are not expected to
continue for any singular event on an ongoing basis, similar types
of expenses may recur in the future.
|
(8)
|
Reflects
miscellaneous adjustments permitted under the Credit Agreement,
such as recruiting fees and relocation costs. The three months
ended June 30, 2021 also included $1.0 million related to expenses
incurred with severe winter storms during the first quarter and
costs related to a power interruption at a plant location of $0.5
million. The three months ended March 31, 2021 also included $0.8
million related to expenses incurred with severe winter storms
during the first quarter, partially offset by $0.1 million for a
measurement period adjustment related to the Arrows Up bargain
purchase. See Note E - Business Combinations to our Condensed
Consolidated Financial Statements in Part I, Item 1 of our
Quarterly Report on Form 10-Q for more information. The three
months ended June 30, 2020 also included $1.9 million in transload
shortfalls and exit fees, $4.1 million in inventory adjustments,
$2.5 million measurement period adjustment to the gain attributable
to the bargain purchase of Arrows Up, $3.1 million in severance
costs, and $11.8 million in legal expense due to unsuccessful
defense of a small number of our patents.
|
U.S. Silica Holdings, Inc.
Investor Contact
Patricia Gil
Vice President, Investor Relations
(281) 505-6011
gil@ussilica.com
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SOURCE U.S. Silica Holdings, Inc.