U.S. Concrete Announces Full Year 2018 And Fourth Quarter Results

Posted by U.S. Concrete on Feb 26, 2019, 8:35:58 AM

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 has scheduled an investor conference call to be held this morning at 10:00 a.m. Eastern Time (9:00 a.m. Central Time), in conjunction with our earnings release. To access the call, visit https://edge.media-server.com/m6/p/titb8efg. Please visit the website at least 15 minutes before the call begins to register, download and install any necessary audio software.

FULL YEAR 2018 HIGHLIGHTS INCLUDE THE FOLLOWING ALL-TIME ANNUAL HIGHS COMPARED TO FULL YEAR 20171

  • Consolidated revenue increased 12.8% to $1.5 billion
  • Ready-mixed concrete revenue increased 7.7% to $1.3 billion
  • Aggregate products revenue increased 101.3% to $182.6 million
  • Aggregate products volume increased 79.3% to 11.1 million tons
  • Polaris Materials contributed revenue of $92.0 million and volume of 5.0 million tons
  • Income from continuing operations was $31.3 million, an increase of $5.1 million
  • Total Adjusted EBITDA2 increased 0.7% to $193.5 million
  • Net cash provided by operating activities increased $28.0 million to $122.8 million
  • Adjusted Free Cash Flow2 increased $47.8 million to $103.4 million

FOURTH QUARTER 2018 HIGHLIGHTS COMPARED TO FOURTH QUARTER 20171

  • Consolidated revenue increased 8.4% to $370.1 million
  • Ready-mixed concrete revenue increased 5.6% to $321.0 million
  • Ready-mixed concrete volume grew by 2.6%
  • Aggregate products revenue increased 59.5% to $46.4 million
  • Aggregate products volume increased 41.0% to 2.7 million tons
  • Polaris Materials contributed revenue of $24.3 million and volume of 1.3 million tons
  • Income from continuing operations was $3.1 million, an increase of $6.0 million
  • Total Adjusted EBITDA2 increased 6.0% to $46.2 million
  • Net cash provided by operating activities increased $22.0 million to $32.6 million
  • Adjusted Free Cash Flow2 increased $24.4 million to $27.5 million

See complete release here.>>

Topics: In the news, U.S. Concrete