First-quarter aggregate business strong at U.S. Concrete

Aggregate products segment revenue increased by $900,000 at U.S. Concrete in the first quarter to an all-time first-quarter high of $44.5 million.

According to U.S. Concrete, the high mark stemmed from an 8.9 percent increase in average selling price related to the mix of products sold compared to the first quarter of 2020 – the effect of which more than offset a 1.7 percent decrease in sales volume.

Aggregate products adjusted EBITDA (earnings before interest, tax, depreciation and amortization) of $12.5 million in the first quarter increased 10.6 percent from last year’s first quarter, primarily due to the impact of cost-saving measures initiated in 2020 and the full quarter impact of Coram Materials, which was acquired in February 2020.

“Despite the challenges that we faced with significant winter weather during the first quarter, we are pleased with the progress we have made on our operational efficiencies and cost-containment efforts,” says Ronnie Pruitt, president and CEO of U.S. Concrete. “We are seeing an increase in bidding levels and project starts, which continue to point to a stronger second half of 2021. We are optimistic about the business outlook, as we see improved demand for our products with strong residential activity, diversified commercial needs and resilient infrastructure projects, which should be enhanced by a national infrastructure bill.”