U.S. Concrete first-quarter 2019 results show aggregate revenue upticks

By |  May 13, 2019

U.S. Concrete reported increased revenue, aggregate products revenue and gross profit in the first quarter of 2019.

Logo: US Concrete

According to the company, its consolidated revenue increased 1.6 percent to $333.1 million; its aggregate products revenue increased 25.4 percent to $42.9 million; and its aggregate products volume increased 17 percent to 2.5 million tons. In addition, its adjusted gross profit increased 4.8 percent to $64.7 million while its adjusted gross profit margin increased to 19.4 percent.

“While faced with negative weather patterns, which seemingly have become routine, we are pleased to report multiple financial accomplishments, including our 33rd consecutive quarter of year-over-year revenue growth and an improved adjusted gross profit,” says William Sandbrook, chairman and CEO of U.S. Concrete. “We continue to believe these trends, including the solid runway of demand in all of our regions, reflect the strong fundamentals in the markets we serve.”

The company’s aggregate product sales volume also increased 17 percent compared with the first quarter of 2018. This increase was mainly due to U.S. Concrete’s Polaris and West Texas quarries, the company says. In addition, adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for this segment increased to $10.4 million in the first quarter of 2019 from $4.7 million in last year’s first quarter.

“A significant driver of the positive momentum in our adjusted gross profit is the significant growth in our higher margin aggregate products segment, once again led by Polaris,” Sandbrook says. “We sold 2.5 million tons of aggregates during the 2019 first quarter, generating more than $10 million of adjusted EBITDA, which is more than double last year’s first quarter.”

Earlier this year, U.S. Concrete also released its 2018 results, which showed record-high aggregate products revenue.

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About the Author:

Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.

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