Consolidated revenue increased 1.1% from last year's third quarter to $408.9 million, an all-time quarterly high;
Ready-mixed concrete revenue increased 2.3% from last year's third quarter to $354.1 million, an all-time quarterly high;
Operating income was $33.3 million; Adjusted Gross Profit2 increased 9.9% to $87.7 million compared to last year's third quarter; Adjusted Gross Profit Margin2 increased to 21.4% from 19.7% in last year's third quarter;
Net income was $13.6 million; Total Adjusted EBITDA2 increased 15.6% from last year's third quarter to $62.1 million, an all-time quarterly high; Total Adjusted EBITDA Margin2 increased to 15.2% from 13.3% in last year's third quarter.
SECOND QUARTER 2019 RESULTS1
- Total consolidated revenue was $367.5 million
- Aggregate products revenue of $49.5 million on sales volume of 2.9 million tons increased 2.1% compared to last year's second quarter
- Aggregate products average sales price of $11.83 per ton increased 6.5% compared to last year's second quarter
- Ready-mixed concrete revenue was $314 million on sales volume of 2.3 million cubic yards
- Ready-mixed concrete average sales price of $138.40 per cubic yard increased 4.0% compared to last year's second quarter
- Net income was $0.9 million and Total Adjusted EBITDA2 was $42.0 million
- Cash provided by operating activities was $18.7 million
- Adjusted Free Cash Flow2 of $14.1 million increased 29.4% compared to last year's second quarter
Liz Claman will host Bill Sandbrook today at 3:00pm ET on her hit show, Countdown to the Closing Bell. Liz is producing a special segment on the state of America's infrastructure and will discuss how to get it fixed. Bill is a previous guest and a frequent on-air contributor to the Fox Business Network. U.S. Concrete's ability to deliver concrete to meet stringent specifications and success on major infrastructure projects across the country makes Bill a highly sought after guest. Tune in to Fox Business soon to watch.
FIRST QUARTER 2019 HIGHLIGHTS COMPARED TO FIRST QUARTER 2018
- Consolidated revenue increased 1.6% to $333.1 million
- Ready-mixed concrete revenue increased 0.4% to $290.4 million
- Aggregate products revenue increased 25.4% to $42.9 million
- Aggregate products volume increased 17.0% to 2.5 million tons
- Operating income increased to $7.9 million and operating income margin increased to 2.4%
- Adjusted Gross Profit2 increased 4.8% to $64.7 million and Adjusted Gross Profit Margin increased to 19.4%
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.
THIRD QUARTER 2018 HIGHLIGHTS COMPARED TO THIRD QUARTER 2017
- Consolidated revenue increased 14.0% to $404.3 million, an all-time quarterly high
- Ready-mixed concrete revenue increased 7.0% to $346.2 million
- Ready-mixed concrete volume grew by 5.8%
- Aggregate products revenue increased 155.4% to $53.5 million, an all-time quarterly high
- Aggregate products volume increased 113.8% to 3.2 million tons, an all-time quarterly high
- Polaris Materials acquisition contributed revenue and volume of $28.2 million and 1.6 million tons, respectively, both all-time quarterly highs
- Ready-mixed concrete backlog increased 1.9% to 8.1 million cubic yards
- Net cash provided by operating activities increased $11.3 million to $42.4 million
- Adjusted Free Cash Flow increased $29.1 million to $45.5 million
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.