US Concrete (USCR) Reports Q3 EPS of $0.73, Revenues Miss; Offers FY18 Revenue Outlook

US Concrete (NASDAQ: USCR) reported Q3 EPS of $0.73, versus $1.41 reported last year. Revenue for the quarter came in at $404.3 million versus the consensus estimate of $420.95 million.

• Consolidated revenue increased 14.0% to $404.3 million, an all-time quarterly high
• Ready-mixed concrete revenue increased 7.0% to $346.2 million
• Ready-mixed concrete volume grew by 5.8%
• Aggregate products revenue increased 155.4% to $53.5 million, an all-time quarterly high
• Aggregate products volume increased 113.8% to 3.2 million tons, an all-time quarterly high
• Polaris Materials acquisition contributed revenue and volume of $28.2 million and 1.6 million tons, respectively, both all-time quarterly highs
• Ready-mixed concrete backlog increased 1.9% to 8.1 million cubic yards
• Net cash provided by operating activities increased $11.3 million to $42.4 million
• Adjusted Free Cash Flow1 increased $29.1 million to $45.5 million

GUIDANCE:

US Concrete sees FY2018 revenue of $1.5-1.55 billion, versus the consensus of $1.53 billion.

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

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