U.S. Silica Holdings, Inc. (NYSE:SLCA) Q3 2023 Earnings Conference Call November 3, 2023 8:30 AM ET

Company Participants

Patricia Gil - Vice President-Investor Relations

Bryan Shinn - Chief Executive Officer

Kevin Hough - Interim Executive Vice President, Chief Financial Officer, and Chief Accounting Officer

Conference Call Participants

Derek Podhaizer - Barclays

Stephen Gengaro - Stifel

John Daniel - Daniel Energy

Operator

Good morning, and welcome to the U.S. Silica Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Patricia Gil, Vice President of Investor Relations and Sustainability. Thank you. You may begin.

Patricia Gil

Thank you, and good morning, everyone. I'd like to thank you for joining us today for U.S. Silica's third quarter 2023 earnings conference call. Leading the call today are Bryan Shinn, our Chief Executive Officer; and Kevin Hough, our Interim Executive Vice President, Chief Financial Officer, and Chief Accounting Officer.

Before we begin, I would like to remind you of our standard cautionary remarks regarding the forward-looking nature of some of the statements that will be made today. Such forward-looking statements, which are predictions projections or other statements about future events are based on current expectations and assumptions, which are subject to certain risks and uncertainties. For a complete discussion of these risks and uncertainties, we encourage you to read the company's press release and our documents filed with the SEC. We do not undertake any duty to update any forward-looking statements. Additionally, we have provided a supplemental third quarter earnings presentation on our website in the Investors section to accompany today's discussion.

On today's call we may refer to non-GAAP measures such as adjusted EBITDA, segment contribution margin, net debt and net leverage ratio. Please refer to today's press release or our public filings or the accompanying earnings presentation for a full reconciliation and discussions of adjusted EBITDA, segment contribution margin, net debt and the net leverage ratio.

I would now like to turn the call over to our CEO, Bryan Shinn.

Bryan Shinn

Thanks, Patricia and good morning everyone. During the third quarter we continued to advance our growth strategy while strengthening our financial foundation. We generated healthy cash flow from operations and adjusted EBITDA driven by strong margins enabled by our lean cost structure. We also repurchased and extinguished an additional $25 million of debt, improving our balance sheet and net leverage ratio.