Estimates for U.S. Silica poised to rise after Q1 results, says Wells Fargo After U.S. Silica reported higher than expected Q1 revenue and volumes, Wells Fargo expects estimates for the company to rise. The firm believes that the company's 2014 EBITDA guidance could be too conservative, and it keeps an Outperform rating on the shares.
News For SLCA From The Last 14 Days
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U.S. Silica to acquire Cadre Services for $98M cash U.S. Silica Holdings announced that it has signed a stock purchase agreement to acquire all of the outstanding shares of Cadre Services for approximately $98M in cash. Closing is expected by the end of the month. The purchase price of $98M, less the net present value of approximately $14M in deferred tax assets, results in $84M of net consideration. Adjusted LTM EBITDA of $11.1M represents a purchase price multiple of 7.6 times. Projected 2015 Adjusted EBITDA of approximately $18M after synergies and the benefit of a full year of sales from the March capacity expansion represents a purchase price multiple of 4.7 times. This would result in Adjusted EPS accretion of 11c-13c per share in 2015.