U.S. Silica Holdings Inc. (NYSE:SLCA) Q1 2022 Earnings Conference Call April 29, 2022 8:30 AM ET

Company Participants

Bryan Shinn - Chief Executive Officer

Don Merril - Executive Vice President, Chief Financial Officer

Patricia Gil - Vice President, Investor Relations

Conference Call Participants

Stephen Gengaro - Stifel

Dan Cook - Morgan Stanley

Samantha Hoh - Evercore ISI

Derek Podhaizer - Barclays

Operator

Good morning and welcome to the U.S. Silica first quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star, zero on your telephone keypad. As a reminder, this conference is being recorded.

It is now my pleasure to introduce you to Patricia Gil, Vice President of Investor Relations.

Patricia Gil

Thank you and good morning everyone. I’d like to thank you for joining us today for U.S. Silica’s first quarter 2022 earnings conference call. Leading the call today are our Chief Executive Officer, Bryan Shinn, and Don Merril, our Executive Vice President and Chief Financial 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 on file with the SEC. We do not undertake any duty to update any forward-looking statements.

Additionally, we may refer to the non-GAAP measures such as adjusted EBITDA, segment contribution margin, or our consolidated leverage ratio during this call. Please refer to today’s press release or our public filings for a full reconciliation of adjusted EBITDA to net income and discussions of segment contribution margin and the consolidated leverage ratio.

With that, I would like to turn the call over to our CEO, Mr. Bryan Shinn.

Bryan Shinn

Thanks Patricia and good morning everyone.

We started 2022 with a very strong quarter, delivering sequential improvements of 7% in total revenue and 26% in adjusted EBITDA. Macros were very favorable with continued robust demand and we delivered meaningful price increases across both business units in the quarter. I’m also pleased to report that the positive market conditions are continuing and we expect to deliver an even stronger financial quarter with great results in Q2.