Loading...
Docoh

Covia (CVIAQ)

Covia Holdings Corp. engages in the provision of diversified mineral-based and material solutions. It operates through the following segments: Energy and Industrial. The Energy segment offers the oil and gas industry a comprehensive portfolio of raw frac sand, value-added-proppants, well-cementing additives, gravel-packing media and drilling mud additives. The Industrial segment provides raw, value-added and custom-blended products to the glass, ceramics, metals, coatings, polymers, construction, foundry, filtration, sports and recreation and various other industries. The company was founded on June 1, 2018 and is headquartered in Chesterland, OH.

Company profile

Ticker
CVIAQ, CVIAQ
Exchange
CEO
Richard Navarre
Employees
Incorporated
Location
Fiscal year end
Former names
Unimin Corp
SEC CIK
Subsidiaries
Covia Specialty Minerals Inc. • Covia Financing LLC • Covia Canada Ltd. • Covia Finance Company LLC • Grupo Materias Primas de Mexico • 909273 Ontario Inc. • Bison Merger Sub I, LLC • FMSA Inc. • Fairmount Santrol Inc. • Fairmount Minerals Sales de Mexico ...
IRS number
132656671

CVIAQ stock data

Calendar

9 Nov 20
4 Jul 22
31 Dec 22
Quarter (USD) Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 286.49M 286.49M 286.49M 286.49M 286.49M 286.49M
Cash burn (monthly) (no burn) (no burn) 69.72M 47.52M (no burn) (no burn)
Cash used (since last report) n/a n/a 1.48B 1.01B n/a n/a
Cash remaining n/a n/a -1.19B -719.12M n/a n/a
Runway (months of cash) n/a n/a -17.1 -15.1 n/a n/a

Beta Read what these cash burn values mean

13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 1 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

?
Risks
  • We are subject to the risks and uncertainties associated with Chapter 11 proceedings.
  • Operating under Bankruptcy Court protection for a long period of time may harm our business.
  • The Chapter 11 Cases limit the flexibility of our management team in running our business.
  • We may not be able to obtain confirmation of a Chapter 11 plan of reorganization.
  • Our long-term liquidity requirements and the adequacy of our capital resources are difficult to predict at this time.
  • As a result of the Chapter 11 proceedings, our financial results may be volatile and may not reflect historical trends.
  • We may experience increased levels of employee attrition as a result of the Chapter 11 proceedings.
  • Trading in our common stock during the pendency of the Chapter 11 proceedings is highly speculative and poses substantial risks.
Management Discussion
  • Revenues were $229.4 million for the three months ended September 30, 2020 compared to $409.0 million for the three months ended September 30, 2019, a decrease of $179.6 million, or 44%.  Volumes were 4.7 million tons for the three months ended September 30, 2020 compared to 7.8 million tons for the three months ended September 30, 2019, a decrease of 3.1 million tons, or 40%.  Our volumes and revenues decreased as a result of declining demand across both segments, primarily attributable to the reduction in oil production and the effects of the COVID-19 pandemic on key end-markets served by our business.  Although the Company realized an average product selling price increase of approximately 2% in the third quarter of 2020 compared to the third quarter of 2019, the Company’s total average selling price for the third quarter of 2020 declined by approximately 8% compared to the third quarter of 2019 due to declines in freight revenue as well as unfavorable product mix away from higher priced product lines.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: addressed, broader, CVIAQ, Deficiency, holder, OTC, persist, Pink, Pool, redundant, rendering, suspended, underway, Unimpaired
Removed: accelerated, Alabama, backed, BNP, borrowing, consummation, correlate, covenant, expanding, expansion, lime, Oregon, pressure, purpose, rationalization, recognition, relocation, tested, unpaid, vary