U.S. Concrete reports results for fourth quarter, full year

Its focus on operational, technology, and financial improvement initiatives led to strong results in 2019 for U.S. Concrete, Inc. “Our record-high EBITDA in the second half of 2019 highlights the traction that our profit improvement initiatives are gaining within our operations,” said William J. Sandbrook, chairman and CEO, in a press release.

“While our fourth quarter of 2019 results were negatively impacted by a significant increase in our self-insurance reserves, cost claims, and premiums year-over-year,” he added, “we experienced good growth in our aggregate products segment and are seeing positive momentum in ready-mixed concrete pricing to further increase profitability.”

While consolidated revenue in the fourth quarter was down 0.2 percent to $369.2 million, aggregate product revenue increased 7.5 percent to $49.9 million. Aggregate volume increased 7.1 percent to 2.9 million tons. During the quarter, the average selling price increased from $11.35 to $11.93 per ton.

For the full year, consolidated revenue fell from $1.5 billion in 2018 to $1.48 billion. Aggregate product revenues increased 6.9 percent to $195 million, and aggregate volume increased 2.5 percent to 11.4 million tons.

The company’s outlook for 2020, which incorporates its acquisition of Coram Materials, calls for consolidated revenue of $1.5 billion to $1.6 billion and total adjusted EBITDA of $195 million to $215 million.