U.S. Concrete Faced a Challenging 2018 Due to Weather but Should See Growth in 2019
In 2018, adjusted EBITDA grew nearly 1% to $194 million, as margins contracted 30 basis points to 12.5%. Most growth came through acquisition, as organic growth was weighed on by weather that plagued construction activity throughout the year. For 2019, the company expects revenue growth of 5% and adjusted EBITDA growth of 11%. Management’s guidance is based on similar weather conditions as this year, so we think these targets are achievable if not beatable given how challenging weather already w...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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