U.S. Concrete Announces Second Quarter 2020 Results
EULESS, Texas, Aug. 4, 2020 -- U.S. Concrete, Inc. (NASDAQ: USCR), a leading producer of construction materials in select major markets across the United States, today reported results for the quarter ended June 30, 2020.
SECOND QUARTER 2020 RESULTS AND HIGHLIGHTS(1)
- Consolidated revenue was $322.7 million
- Aggregate products revenue was $54.5 million, an all-time quarterly high
- Aggregate products Adjusted EBITDA was $21.6 million, an all-time quarterly high
- Operating income more than tripled from the prior year second quarter to $21.6 million
- Net income increased to $6.5 million from $0.9 million in the prior year second quarter
- Total Adjusted EBITDA(2) increased 13.3% to $47.6 million as compared to $42.0 million in the prior year second quarter
- Net income margin of 2.0% and Total Adjusted EBITDA Margin(2) of 14.8%.
- Net cash provided by operating activities was $40.1 million, more than double the prior year second quarter
- Adjusted Free Cash Flow(2) was $33.3 million, more than double the prior year second quarter
- Available liquidity of $334.8 million as of June 30, 2020
(1) Certain computations within this press release may reflect rounding adjustments.
(2) Total Adjusted EBITDA, Adjusted Free Cash Flow and related margins are non-GAAP financial measures. Please refer to the reconciliations and other information at the end of this press release.
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