EULESS, Texas, Feb. 26, 2019 -- U.S. Concrete, Inc. (NASDAQ: USCR), a leading producer of construction materials in select major markets across the United States, today reported results for the full year and quarter ended December 31, 2018.
U.S. Concrete CEO sees path to infrastructure bill 'in the next two years'
Watch the interview between Bill and Jim where they discuss the following:
Tune-in tonight at 6pm ET on CNBC - https://www.cnbc.com/mad-money/
On Wednesday, U.S. Concrete CEO Bill Sandbrook and employees from Superior Concrete Materials, U.S. Concrete's Washington, D.C. business unit, joined President Trump for his Pledge to America’s Workers event. Companies and organizations from across the country are backing the President and signing the pledge to the American worker, to educate and train more than six million workers.
EULESS, Texas, Nov. 1, 2018 -- U.S. Concrete, Inc. (NASDAQ: USCR), a leading producer of construction materials in select major markets across the United States, today reported results for the quarter ended September 30, 2018.
EULESS, Texas, Sept. 6, 2018 -- U.S. Concrete, Inc. (NASDAQ: USCR) ("U.S. Concrete" or the "Company"), a leading national supplier of ready-mixed concrete and aggregates, today announced that it has expanded its aggregates business in Texas with the acquisition of Leon River Aggregate Materials, LLC ("Leon River"), a sand and gravel producer based in Proctor, Texas. The acquisition adds over 400 acres of land with reserves to the Company's operations and a state-of-the-art processing plant to achieve the highest efficiencies.
EULESS, Texas, Sept. 5, 2018 -- U.S. Concrete, Inc. (NASDAQ: USCR) ("U.S. Concrete" or the "Company"), a leading national supplier of ready-mixed concrete and aggregates, today announced that its wholly owned subsidiary, Polaris Materials ("Polaris"), has obtained the necessary permits to increase the amount of aggregates it imports at its terminal located in Long Beach, California. As a result of the new permit, Polaris is now able to deliver up to two million tons of highly specified aggregates annually, effectively doubling its throughput capacity in supply-constrained Southern California.
Bill Sandbrook, our CEO, was a guest on Fox Business Network’s Morning’s With Maria this morning. In the lengthy segment, which can be viewed below, Bill talks about the condition of infrastructure across the country and the significant need for Washington to no longer kick the can down the road when it comes to investing in infrastructure.
In the interview, he notes that:
- There are $4 trillion in infrastructure needs right now;
- The ASCE recently gave the country's infrastructure a D-plus rating;
- There are 56,000 structurally deficient U.S. bridges;
- The World Economic dropped U.S. infrastructure to sixteenth in the world from fifth;
- The Business Roundtable only rated four U.S. airports in the top 50 worldwide;
- U.S. motorists lose $523 annually in additional vehicle operating costs as a result of driving on roads in need of repair; and
- The gas tax hasn’t been raised since August 10, 1993 – prior to Amazon's existence!
This year’s National Ready-Mixed Concrete Association (NRMCA) National Mixer Driver Championship’s first prize was awarded to Edward "Eddie" Rieper. Eddie is a mixer driver for U.S. Concrete's New Jersey business unit, Eastern Concrete Materials. The competition was held last weekend at the Gaylord Texan Resort Hotel & Convention Center in Grapevine, Texas, in conjunction with NRMCA’s ConcreteWorks.
U.S. Concrete CEO, Bill Sandbrook, joined Maria Bartiromo on Fox Business to discuss potential economic impact of President Trump's infrastructure plan. The discussion revolves around Trump's recent press conference in which he unveiled an executive order that would help accelerate the approval process for infrastructure projects. Speaking to the media, Trump suggested burdensome regulations could stymie highway projects for as long as 17 years and cost hundreds of millions of dollars.
The executive order is a small step compared to the ambitious $1 trillion infrastructure plan announced as a primary goal during Trump's campaign and early presidency. While the status of the plan remains in relative limbo, Sandbrook is confident that cutting some of the red tape obstructing infrastructure projects is a move in the right direction. He noted the disparity in efficiency between the government's approach to infrastructure and private business.
As for how U.S. Concrete plans to fit into the proposed infrastructure plan, Sandbrook says these efforts are already underway on the private side. He cites recent projects with New York City's La Guardia airport as well as the Oakland Bay Bridge as notable examples (New York and Northern California are two of the company's primary areas of business). While infrastructure is top-of-mind for Congress and the U.S. government, it constitutes less than 20 percent of U.S. Concrete's business.
As of the present, much of the focus in Congress has centered around tax reform, but infrastructure will be among the many agenda items on the list once autumn arrives. As Sandbrook mentions, roughly 60,000 of bridges in the U.S. are deficient and in need of repair. Over time, these problems can and have become hazardous for Americans. Sandbrook hopes deregulation will help facilitate the repair of bridges under threat of becoming more structurally compromised.
You can watch the full video here.