November 11, 2019 / 5:23 PM / a month ago

Frack sand supplier Carbo Ceramics shares plummet after "going" concern warning

Nov 11 (Reuters) - Shares of oilfield service supplier Carbo Ceramics fell roughly 45% Monday after the company issued a “going” concern warning to investors following the loss of its largest frack sand customer.

The company, which supplies sand to hydraulically fracture shale oil and gas wells, said in an earnings call it expects fourth quarter revenues to drop 30% and that it was working with advisers to build cash. (Reporting by Liz Hampton Editing by Chizu Nomiyama)

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