Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of silica producer U.S. Silica (NYSE: SLCA ) jumped as much as 28% today after the company reported earnings.
So what: Revenue jumped 42% from a year ago to $118.8 million, well ahead of the $108.5 million estimate. On the bottom line, the company reported earnings per share of $0.41, which also beat Wall Street's best guess of $0.32 in the quarter.
Now what: This was a big day for the company and the icing on the cake was revenue guidance that came in ahead of expectations as well. I wouldn't expect this kind of performance every quarter but with a forward P/E ratio of 13 the stock is primed to move higher. If estimates are increased and fundamentals continue to improve this stock will continue to rise as analysts catch up to this growth story.
Interested in more info on U.S. Silica? Add it to your watchlist by clicking here.