First-quarter aggregate revenue, pricing up at U.S. Concrete

U.S. Concrete Inc. reported its results for the first quarter of 2017, noting that aggregate product revenue increased 17.7 percent and that the average sales price of aggregate products jumped 10.6 percent.

According to U.S. Concrete, its aggregate product revenue increased to $17.8 million, while the average sales price of aggregate products is up to $12.59 per ton.

Also, U.S. Concrete’s aggregate products sales volume was 1.2 million tons in the first quarter, which was up 4 percent compared with the first quarter of 2016, the company says.

Overall, U.S. Concrete reported a net income of $6.9 million compared to a net loss of $10 million in the first quarter of 2016. Total adjusted earnings before interest, tax, depreciation and amortization increased to $41.1 million in the first quarter of 2017, compared with $25.6 million in the prior-year first quarter.

“Our extremely strong first-quarter results demonstrate that we continue to capitalize on the strong demand trends and our leadership positions that we have created in our major metropolitan markets,” says William Sandbrook, president and CEO of U.S. Concrete. “Our results for the quarter are even more satisfying in light of near-record rainfall in California, which negatively affected our operations in the Bay Area.

“The underlying demand trends in metropolitan New York, the San Francisco Bay area, the Dallas/Fort Worth Metroplex and Washington, D.C., continue to be extremely robust, and we have strategically positioned ourselves in each of these markets to deliver solid earnings growth irrespective of fluctuating levels of federal stimulus or underlying infrastructure funding,” Sandbrook adds. “However, I am optimistic that additional federal and state resources will be available in the coming years which will only enhance the underlying demand for our aggregates and ready-mixed concrete.”