Forterra (FRTA) Misses Q3 EPS by 22c

Forterra (NASDAQ: FRTA) reported Q3 EPS of ($0.18), $0.22 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $444.3 million versus the consensus estimate of $451.16 million.

• Higher average selling prices on a sequential quarter basis in both the Drainage and Water segments
• Sold the U.S. concrete and steel pressure pipe business for a loss of $31.6 million that contributed to the net loss of $11.5 million for the quarter
• Adjusted EBITDA of $60.9 million, above the mid-point of the guidance range despite the impact of two major hurricanes
• Ended the quarter with no outstanding balance on the Revolver

For earnings history and earnings-related data on Forterra (FRTA) click here.

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