U.S. Concrete’s Margins Hold Steady Despite Price Increases; Lowering Fair Value Estimate
U.S. Concrete reported decent third-quarter results, successfully increasing concrete and aggregates prices 6% and 13%, respectively, over the prior year's quarter. As a result, the company's adjusted EBITDA grew roughly 10% to $54 million. However, reflective of our view that cement and aggregates producers capture most of the value in the value chain, adjusted EBITDA margins were steady just below 17%.We’ve updated our forecasts, lowering our long-term pricing and margin outlook. We expect u...
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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