US Concrete (USCR) Tops Q4 EPS by 15c

US Concrete (NASDAQ: USCR) reported Q4 EPS of $0.40, $0.15 better than the analyst estimate of $0.25. Revenue for the quarter came in at $179.5 million versus the consensus estimate of $172.3 million.

The Company's free cash flow in the fourth quarter of 2014 was $17.9 million, compared to $(8.9) million in the prior year. The increase in free cash flow was due to improved financial performance and continued focus on management of working capital. Cash provided by operating activities in the fourth quarter of 2014 was $20.4 million compared to cash used in operations in the prior year of $2.7 million. For the full year of 2014, cash provided by operating activities was $51 million, an increase of 111% over prior year.

The Company's net debt at December 31, 2014 was $190.2 million, up $88.8 million from December 31, 2013. The increase in net debt was due to a reduction in cash and cash equivalents and additional debt incurred during the year for the financing of mixer truck additions. The decrease in cash and cash equivalents for the twelve months ended December 31, 2014 was primarily due to the successful deployment of capital raised in the prior year bond offering for execution of our acquisition strategy and increased capital expenditures for mixer trucks and plant improvements to support the growing demand in our markets. Net debt at December 31, 2014 was comprised of total debt of $220.4 million, less cash and cash equivalents of $30.2 million.

Ready-mixed backlog at the end of the fourth quarter of 2014 was approximately 4.8 million cubic yards, up 11.4% compared to the end of the fourth quarter of 2013.

For earnings history and earnings-related data on US Concrete (USCR) click here.

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