Hi-Crush's (HCR) Q4 Earnings Beat Estimates, Sales Down Y/Y
Zacks Investment Research | Feb 19, 2020 10:04PM ET
Hi-Crush Inc. (NYSE:HCR) reported net loss of $21.4 million or 21 cents per share in fourth-quarter 2019, which was wider than net loss of $9.9 million or 8 cents in the year-ago quarter.
Barring one-time items, adjusted loss per share was 13 cents, which was narrower than the Zacks Consensus Estimate of a loss of 17 cents.
Revenues declined 22.7% year over year to $125.5 million.
Total frac sand sold during the quarter was 2,106,622 tons, up 6.6% year over year. Contribution margin per ton sold declined 37.1% year over year to $9.02 in the quarter. Average sales price was $37 per ton in the fourth quarter, down 14% sequentially. The company’s results were hurt by seasonally weaker activity levels across the industry.
2019 Highlights
The company registered a net loss of $413.6 million or $4.10 per share in 2019 against a net income of $137.6 million or $1.42 in 2018.
Total revenues fell 24.5% year over year to $636.4 million in 2019.
Hi-Crush Inc. Price, Consensus and EPS Surprise
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