U.S. Concrete Reports Strong 2Q, but Shares Already Price In 80% EBITDA Growth
U.S. Concrete’s momentum continued into the second quarter, as the company generated $53 million of EBITDA at a margin of 15.5%, compared with $34 million at a margin of 12.4% a year ago. Ready-mixed concrete volume rose 20% and prices rose 4%. With year-to-date adjusted EBITDA of $94 million and a strong backlog, the company is on target to hit our 2017 adjusted EBITDA forecast of about $192 million.We’re making no changes to our forecast, as robust construction activity continues to drive bet...
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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