U.S. Concrete reaches new highs in second-quarter 2018

Aggregate product sales volume at U.S. Concrete increased 99.8 percent in the second quarter of 2018 compared with the same time period in 2017, the company reports.

According to the company, aggregate sales volumes in the second quarter of 2018 were 3.06 million tons, compared with 1.53 million tons in the second quarter of 2017. In addition, total aggregate products revenue reached $48.5 million, more than double the $22.8 million from the same time period one year ago.

“We are very pleased to report record results for the second quarter, including all-time quarterly highs in volumes, revenue, adjusted EBIDTA and backlog,” says William Sandbrook, chairman, president and CEO of U.S. Concrete. “We believe our second quarter results reflect favorably on the underlying demand environment in each of our markets.”

The near-double increase in aggregate sales volumes is predominantly a result of U.S. Concrete’s acquisitions, specifically the acquisition of Polaris Materials. According to the company, its acquisition of Polaris, as well as Corbett Sand & Gravel, resulted in a change in product mix and, in turn, an overall lower average ASP for the segment.

“With Polaris and other recent acquisitions, we have more than doubled our aggregate revenue and volumes during the past 15 months,” Sandbrook says. “Our year-to-date total aggregate products revenue, including internally managed hauling and distribution operations, now represents more than 15 percent of total revenue and should represent close to 20 percent of revenue after these acquisitions have contributed to our results for a full 12 months.”