CARBO Ceramics Q2 Profit Rises - Quick Facts

(RTTNews) - CARBO Ceramics Inc. (CRR) reported that its second-quarter net income rose to $23.02 million or $1.00 per share, from $16.31 million or $0.71 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.99 per share. Analysts' estimates typically exclude special items.

Operating profit for the second quarter of 2014 increased 43 percent, or $10.2 million, compared to the second quarter of 2013. The increase was primarily the result of higher ceramic sales volumes and a favorable ceramic product mix, net of higher SG&A expenses.

Revenues for the quarter grew to $176.56 million from $153.74 million in the prior year quarter. The increase was mainly attributable to an increase in proppant sales volumes. Eight analysts had consensus revenue estimate of $165.58 million for the quarter.

The company anticipates pricing for ceramic proppant to remain relatively stable during the third quarter of 2014.