US Concrete (USCR) Misses Q2 EPS by 29c, Revenues Beat; Offers FY18 Revenue Outlook

US Concrete (NASDAQ: USCR) reported Q2 EPS of $1.08, $0.29 worse than the analyst estimate of $1.37. Revenue for the quarter came in at $404.2 million versus the consensus estimate of $393.52 million.

• Consolidated revenue increased 18.6% to $404.2 million, an all-time quarterly high
• Ready-mixed concrete revenue increased 12.9% to $350.0 million, an all-time quarterly high
• Ready-mixed concrete organic volume grew by 5%
• Aggregate products revenue increased 113.1% to $48.5 million, an all-time quarterly high
• Polaris recorded revenue and volume of $22.5 million and 1.3 million tons, respectively, both all-time quarterly highs
• Income from continuing operations was $16.3 million, an increase of $18.5 million
• Total Adjusted EBITDA increased 8.9% to $57.7 million1, an all-time quarterly high
• Net income per diluted share of $0.99 compares to a net loss per diluted share of $0.15
• Ready-mixed concrete backlog increased 9.8% to an all-time high of 8.3 million cubic yards

GUIDANCE:

US Concrete sees FY2018 revenue of $1.52-1.62 billion, versus the consensus of $1.54 billion.

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

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