Forterra (FRTA) Tops Q1 EPS by 13c, Miss on Revenues

Forterra (NASDAQ: FRTA) reported Q1 EPS of ($0.31), $0.13 better than the analyst estimate of ($0.44). Revenue for the quarter came in at $289.96 million versus the consensus estimate of $312.2 million.

First Quarter Highlights

• Higher Income from operations, EBITDA and Adjusted EBITDA1 in the Drainage segment due to higher selling prices and mitigation of inflationary cost pressures
• Lower Corporate costs as a result of reduced consulting spend and continued cost savings initiatives
• Completed the Bessemer ductile iron pipe facility upgrade to lower input costs and increase plant efficiency
• Net loss of $19.9 million and Adjusted EBITDA of $15.1 million, above the top-end of the guidance range

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

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