CARBO Ceramics (NYSE: CRR ) is up big since reporting earnings last week, despite falling slightly short of last year's Q3 results. Sales are down, but only 3% year over year. This outcome was to be expected, considering that CARBO's total number of land rigs is down 10%, with natural gas rigs almost at a 14-year low. Furthermore, more than 20% of revenue comes from Schlumberger (NYSE: SLB ) and Halliburton (NYSE: HAL ) , both of which reported recently and revealed North America as the location of their most significant slowdowns.
While none of this comes as a huge surprise, the big story out of CARBO's earnings report is its international sales surge, up a staggering 33%. Many are moving away from Chinese Intermediate Density Ceramic, the lower-quality "generic" alternative, in favor of CARBO Ceramics, which shows that the company's branding is paying off in a major way. Check out the following video for details on the full story, including what to expect from CARBO going forward.
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