Raising U.S. Concrete’s FVE on Robust EBITDA Growth, but Long-Term Margin Expansion Unlikely
As Texas is one of U.S. Concrete’s largest markets, Hurricane Harvey weighed on third-quarter results. However, companywide performance still looked good, with ready-mixed concrete prices rising 3% and volume rising nearly 6%, even with the weather challenges. With most of its quarries in Texas, aggregates saw more impact from the hurricane, with volume down nearly 6% and prices up less than 3%.Even with the slowdown in growth during the third quarter, the company’s adjusted EBITDA has risen mo...
U.S. Concrete is a holding company. Through its subsidiaries, the company is engaged as a producer of ready-mixed and as a supplier of aggregates. The company's products comprised of: ready-mixed concrete, which products consist of proportioned mixes it produces and delivers in an unhardened plastic state for placement and shaping into designed forms at the job site; aggregates products, which sells these aggregates for use in commercial, industrial and public works projects in the markets they serve; and other, which includes the company's building materials stores, hauling operations, aggregates distribution terminals, a recycled aggregates operation and concrete blocks.
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