|Over a week ago|
U.S. Concrete up 2.1% after reporting Q1 results 08:0005/0505/05/20
U.S. Concrete reports Q1 Aggregate Products revenue $43.6M vs. $42.9M last year » 08:0005/0505/05/20
Reports Q1 Aggregate…
Reports Q1 Aggregate Products Segment adjusted EBITDA $11.3M vs. $10.4M last year. Aggregate products revenue increased $0.7 million in the quarter, compared to the prior year first quarter, resulting from a 5.4% increase in sales volume and a 0.9% increase in average selling price related to the mix of products sold. Aggregate products Adjusted EBITDA of $11.3 million in the 2020 first quarter increased 8.7% from the prior first year quarter, primarily related to improved operating efficiencies, including the impact of our Coram Materials acquisition partially offset by inclement weather in Texas.
U.S. Concrete reports Q1 Ready-Mixed Concrete segment revenue $292.2M » 07:5805/0505/05/20
Reports Q1 Ready-Mixed…
Reports Q1 Ready-Mixed Concrete adjusted EBITDA $31.7M. Driven by both product mix and geographical pricing mix, revenue from the ready-mixed concrete segment increased $1.8 million, or 0.6%, compared to the prior year first quarter, despite a 2.6% decrease in volume. Adjusted EBITDA growth was hindered by lower volumes, higher labor, and fleet repair and maintenance costs.
U.S. Concrete reports Q1 EPS (19c), consensus (26c) » 06:0505/0505/05/20
Reports Q1 revenue…
Reports Q1 revenue $334.4M, consensus $334M. Ronnie Pruitt, president and CEO of U.S. Concrete highlighted, "We are very pleased with our financial results for the first quarter, which we accomplished in spite of significant rainfall in Texas and the initial impacts of COVID-19. Since early March, we have been focused non-stop on increased efforts to evaluate all areas of our business, both financially and operationally, to further drive process improvements and maximize financial flexibility. Our operations have been generally deemed to be essential, and we remain operational in each of our regions."
Week in Review: How Trump's policies moved stocks » 08:3705/0205/02/20
CMCSA, CMCSK, TSN, CAG, PPC, SAFM, HRL, GILD, ACM, CBI, CAT, EXP, FLR, GVA, MLM, PWR, J, USCR, VMC
Catch up on the top…
McConnell won't support infrastructure in coronavirus bill, Axios reports » 15:1604/2804/28/20
CAT, CBI, FLR, GVA, MLM, VMC, PWR, EXP, ACM, USCR, J
Senate Majority Leader…
Senate Majority Leader Mitch McConnell panned the idea of using a coronavirus stimulus bill to fund major infrastructure investment in a conference call on Tuesday with Republican senators, Axios' Jonathan Swan reports. resident Trump has been floating the idea - and McConnell is moving early to crush it and more generally, the author notes. Publicly traded companies in the space include Aecom (ACM), CB&I (CBI), Caterpillar (CAT), Eagle Materials (EXP), Fluor (FLR), Granite Construction (GVA), Martin Marietta (MLM), Quanta Services (PWR), Jacobs (J), U.S. Concrete (USCR) and Vulcan Materials (VMC). Reference Link
|Over a month ago|
DA Davidson uncertain on recovery time for U.S. Concrete, cuts to Neutral » 07:5004/2104/21/20
As previously reported,…
As previously reported, DA Davidson analyst Brent Thielman downgraded U.S. Concrete to Neutral from Buy with a price target of $18, down from $46. The analyst also cuts his FY20 and FY21 revenue outlook to $154M from $205M and to $137M from $225M respectively. After the company's Q1 update and withdrawn guidance, Thielman notes that the toll of the COVID-19 outbreak is being lengthened, and he is increasingly uncertain about the timing of a sustained revival/recovery in spending in the company's key regions. The analyst cautions that headwinds may persist over the near term as prospects for new construction decline.
U.S. Concrete downgraded to Neutral from Buy at DA Davidson » 06:4704/2104/21/20
DA Davidson analyst Brent…
DA Davidson analyst Brent Thielman downgraded U.S. Concrete to Neutral from Buy with an $18 price target.
U.S. Concrete price target lowered to $19 from $45 at SunTrust » 09:2604/2004/20/20
SunTrust analyst Rohit…
SunTrust analyst Rohit Seth lowered the firm's price target on U.S. Concrete to $19 from $45 and keeps a Hold rating on the shares. The analyst notes that while local officials deemed construction an "essential industry" in Q1, New York and San Francisso halted all non-essential activity in April, while Dallas/Fort Worth market experienced heavy rainfalls in the quarter. As a result, Seth believes that U.S. Concrete will experience a material volume decline in the first half of the year.
U.S. Concrete downgraded to Neutral from Buy at Sidoti » 08:5304/2004/20/20
Sidoti analyst Julio…
Sidoti analyst Julio Romero downgraded U.S. Concrete to Neutral from Buy with a $15 price target.