Bill Sandbrook, the president and CEO of U.S. Concrete, was interviewed by the Wharton School of Business at the University of Pennsylvania in an article titled “What Leaders Gain By Listening Closely to Their Employees.” The interview dives deeply into Sandbrook’s past, including his relationship with his father and his multiple years of service in the military.
When asked about early role models, Sandbrook quickly referenced his father. Like his son, Sandbrook’s father was also in the construction materials industry and worked on the operations side. Growing up, Sandbrook was able to gain a rare perspective on the inner workings of a concrete company and — more importantly — see his father’s leadership skills firsthand. He said he was especially inspired by his dedication to the safety of his employees and how he treated everyone — superiors and subordinates alike — with respect.
Topics: In the news
Topics: Build With Strength
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.
Topics: In the news
(U.S. Concrete) The Dallas Morning News sat down with our President and CEO Bill Sandbrook in Downtown Dallas with our North Texas business unit, Redi-Mix. Under Sandbrook’s leadership, U.S. Concrete has reached unprecedented heights. His management style, largely influenced by his West Texas upbringing and military career, has been a guiding light in the darkness for his company. U.S. Concrete is now a premier concrete supplier for major metropolitan areas with a high barrier of entry — New York City, Dallas and the Bay Area in Northern California, to name a few.
(U.S. Concrete) CNBC's Jim Cramer hosted U.S. Concrete CEO Bill Sandbrook on his hit show Mad Money to talk about infrastructure and the company's growth. Cramer discussed U.S. Concrete stock in the past, namely at the end of last year. Then, there was much hype about the potential for government infrastructure spending. The broad-scope infrastructure plan was to total roughly $1 trillion with the added potential project of the U.S.-Mexico Border Wall. Cramer admits, given recent developments in the White House, that these projects could be put on hold for the foreseeable future.
However, Cramer notes that the construction material industry is a strong one — one that could yield potentially high returns. U.S. Concrete, he says, is still a strong buy despite a dip in the overall market and the uncertain future of the Trump administration's infrastructure plan. Cramer notes this in the wake of an impressively strong first quarter for U.S. Concrete, suggesting the company's presence in growing metropolitan areas such as North Texas, Northern California and New York give the company a recipe for sustained success.
Some notables from the first quarter release:
- Consolidated revenue increased 22 percent
- Ready-mixed concrete revenue increased 23 percent
- Aggregate product revenue increased 18 percent
Watch the rest of the video below:
(U.S. Concrete) Portable concrete mixers and mobile on-site plants are two distinct categories of products that provide a solution to a common problem — the need for fast-track mobilization of concrete supplies to remote locations. All concrete suppliers construct stationary concrete plants. Fewer will have a fleet of mobile concrete mixers and the capacity to set-up multiple on-site ready-mixed concrete plants. Mobile plants allow for efficient concrete construction operations anywhere in the country, especially in areas that would be logistically impossible to reach from stationary plants through conventional means.
U.S. Concrete's Dallas / Fort Worth business unit, Redi-Mix Concrete, is supplying the concrete for Facebook's Fort Worth Data Center. Redi-Mix teamed up with U.S. Concrete's nationwide mobile concrete plant business unit, U.S. Concrete On-Site, to provide the equipment necessary to supply one of the largest projects in the nation. With over 100,000 yards of concrete placed so far, Redi-Mix and On-Site, are showing their strength and flexibility with fast track mobilization portable plants.
(U.S. Concrete) In a Fox News segment featuring U.S. Concrete CEO Bill Sandbrook and Summit Materials CEO Tom Hill, both guests are asked about projections for infrastructure spending under President Donald Trump. U.S. Concrete saw its stock rise immediately following the election of Trump, who's promises to invest in infrastructure spending and a Mexican border wall have led to a surge in investments for potential suppliers.
Though signs point to an increase in infrastructure spending, Sandbrook notes that no arrangement with U.S. government officials have yet been made regarding the promised border wall. The wall must be approved by Congress before contracts can be outlined, so U.S. Concrete will remain at the ready in case the project begins to develop.
Aside from the wall, Sandbrook expressed optimism regarding Trump's tax plan, suggesting that the reduced regulations and tax burden could boost U.S. gross domestic product by 2 percent. When asked where the money for Trump'sinfrastructure plan would come from, he said that private investors and banks could potentially contribute to subsidize what the government would provide from its own funding.
As of recently, Trump's press secretary Sean Spicer indicated that the President is still intent on following through with his $1 trillion infrastructure plan. The plan has taken a backseat to healthcare and tax reform of late, but the White House has indicated that the project is still very much on their radar. Though Trump raised the idea to lump in the infrastructure plan with his other priorities, the timeline has since been pushed back.
Specific details of the infrastructure plan are not yet ironed out, other than an estimation of $1 trillion in spending over the course of 10 years. Whether or not the plan gets approval in 2017 is still uncertain, but the infrastructure plan would allegedly address the modernization of roads, airports, electrical grids and even broadband.
Nevertheless, as of May 2017, U.S. Concrete stocks are still going strong after an excellent first quarter.
(U.S. Concrete) In an interview with Dallas Business Journal, U.S. Concrete CEO Bill Sandbrook expressed confidence that, if the proposed U.S.-Mexico border wall is constructed, that U.S. Concrete would be involved in the project if concrete solutions were needed.
"We have no idea if this is going to be concrete, but we are we are well-positioned with our operations and experience," Sandbrook said. "To the extent that concrete is being used on the wall, we would be a competitive bidder."
The article expands on U.S. Concrete's especially strong presence in the state of Texas, with an operations center in Laredo, TX. From there, concrete supplies could be easily mobilized for a border wall if the operations were put into motion. U.S. Concrete's prominence in California, New York and Texas have already opened the door for multiple infrastructure projects out of the scope of the proposed $1 trillion infrastructure plan made by President Donald Trump.
As Dallas Business Journal notes, only 16 percent of U.S. Concrete's revenue is tied to infrastructure projects, with the majority of business stemming from homes, apartments, office buildings, hospitals, schools and other real estate projects. Part of Sandbrook's efforts will be to not only set up an opportunity for a bid on the border wall, but become the go-to supplier for other major projects in areas showing sizable growth.
U.S. Concrete's growth parallels the growth of the areas in which it operates. U.S. Concrete stocks continue to rise after a strong first quarter in 2017.