Polaris Materials reports increased sales volumes in third quarter 2017

By |  October 19, 2017

Polaris Materials, which will soon be acquired by U.S. Concrete, released its third quarter report.

According to the company, its sales volumes in the third quarter of 2017 were 973,000 tons, which is a 50 percent increase over the second quarter. The company had expected a higher number, but two ships with total freight of about 160,000 tons but did not arrive in the San Francisco bay area in time to be counted as sales in the third quarter.

Year-to-date, the company’s sales volumes are 2.18 million tons, compared with 2.27 million tons in the first nine months of 2016. In addition, sales volumes year-to-date are 4 percent below 2016 but grew nearly 18 percent year-to-date on a like-to-like basis.

Sales volumes at Polaris Materials’ Long Beach, California, terminal reached 103,000 tons during the third quarter of 2017 and 143,000 tons year-to-date. According to the company, it has nearly 200,000 tons scheduled for delivery to Los Angeles during the remainder of the year.

Polaris Materials forecasts that its full-year sales volumes will be 3.2 to 3.4 million tons, which would be a 6 to 12 percent increase from 2016 and a 400,000-ton increase from its initial expected range for 2017. The increase is mainly driven by improved market share in San Francisco, the company says.

In addition, current sales expectations for the fourth quarter of 2017 are in the range of 1.1 to 1.3 million tons.

“Q3 was among our best quarters operationally, although we were disappointed that vessel scheduling issues led to two shipments arriving past the end of the quarter,” says Ken Palko, president and CEO of Polaris Materials. “Ongoing developments in the San Francisco Bay area have contributed positively to our volume expectations, and mean that Q4 and full year 2017 have the potential to be among our best ever.”

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