Fox Business' Maria Bartiromo interviewed our CEO, Bill Sandbrook, to discuss the future of U.S. infrastructure spending and the role U.S. Concrete will play given recent developments. The interview comes in the wake of Trump's statements hinting at a desire to partially or fully privatize parts of his infrastructure plan. While the details of the infrastructure plan continue to remain ambiguous, Sandbrook believes a combination of public and private funds will be used to tackle the U.S. infrastructure problem.
According to the American Society of Civil Engineers, America's infrastructure hovers around a D+, with no component of U.S. infrastructure receiving an "A" rating. This topic was one of many covered in the interview in which Sandbrook opined on potential solutions to the issue. He believes this is the beginning of a serious conversation about truly generating the funds needed to fix the current disarray of American infrastructure.
One of the issues brought by the Fox Business interviewers involved a concern regarding the amount of available workers for infrastructure jobs. Sandbrook confirmed these concerns, adding that a wage inflation and a lack of people willing to join the ranks of concrete truck drivers is one of U.S. Concrete's current bottlenecks. Wage inflation, he says, has gone up 5 percent when traditionally the rise would be 3 percent. Additionally, the need to acquire a specific license also increases the barrier of entry for a job he believes many people not working could take.
Then, when asked what infrastructure projects should take priority given the low infrastructure ratings, Sandbrook replied that anything related to the public's safety, such as faulty bridges, should be the first priority. Secondly, highways that could pose a safety risk need to be evaluated. Third, highways and roads should be constructed in major cities to alleviate traffic congestion.
Finally, Sandbrook discusses the current economic strength of his industry. The outlook for construction and infrastructure spend is currently promising, which is reflected by the rising value of the USCR stock price.
To watch the full interview, click on the video below.