U.S. Concrete aggregate business stands out in fourth quarter 2020

U.S. Concrete noted a number of highlights in its aggregate products segment upon releasing its fourth-quarter and full-year 2020 results Wednesday.

For 2020, U.S. Concrete reports that its aggregate products revenue increased 10.9 percent to a record $216.4 million.Aggregate products volumes increased 10.8 percent to a record 12.6 million tons., and aggregate products adjusted EBITDA (earnings before interest, tax, depreciation and amortization) increased 50.4 percent to a record $80.9 million.

For the fourth quarter, aggregate products revenue increased 9.6 percent to $54.7 million. Aggregate products volumes increased 8.2 percent to 3.1 million tons, and aggregate products adjusted EBITDA increased 42.3 percent to $21.2 million.

“While 2020 was a year of overcoming obstacles, we have many reasons to celebrate our performance during fiscal year 2020,” says Ronnie Pruitt, president and CEO of U.S. Concrete. “Thanks to the dedication, vigilance and discipline of the entire U.S. Concrete team, we were able to successfully navigate through a very challenging year.

“We are pleased to report record annual activity in our aggregate products segment, and our cost-containment efforts resulted in increased profitability,” Pruitt adds. “Our 2020 success is not only a testament to our team’s ability to adapt to the current, dynamic environment, but also a reflection of the work we have done to transform our business.”

Additional details

According to U.S. Concrete, its record aggregate products sales in 2020 helped to partially offset a decrease in ready-mixed concrete sales. Total company revenue decreased 7.6 percent to $1.4 billion, versus $1.5 billion in 2019.

U.S. Concrete is currently targeting 2021 total adjusted EBITDA to be around $200 million for the full year – or a 2 to 5 percent increase from 2020.