Welcome to our dedicated page for Arcosa news (Ticker: ACA), a resource for investors and traders seeking the latest updates and insights on Arcosa stock.
Arcosa, Inc. reports developments in infrastructure-related products and solutions, with current operations centered on Construction Products and Engineered Structures. News commonly covers earnings, guidance, segment demand, margin trends, backlog, and end-market activity in aggregates, specialty materials, asphalt, utility structures, wind towers, traffic and lighting structures, and telecommunication structures.
Company updates also include portfolio actions such as the completed sale of the inland barge business, acquisitions of aggregates operations, regular cash dividends, and investor communication around quarterly results. Arcosa's coverage often links construction materials performance to weather, pricing, volumes, and unit profitability, while engineered structures updates emphasize utility structures demand tied to grid modernization and power needs.
Arcosa, Inc. (NYSE: ACA) has declared a quarterly cash dividend of $0.05 per share, payable on January 29, 2021, to stockholders on record as of January 15, 2021. The Company also renewed its $50 million share repurchase program, effective January 1, 2021, providing flexibility to repurchase shares based on market conditions. Additionally, Arcosa has filed a universal shelf registration statement allowing potential future offerings of securities over the next three years, although there are no immediate plans for such offerings.
Arcosa, Inc. (NYSE: ACA) reported a 10% revenue increase to $490 million for Q3 2020. Net income stood at $31.2 million, with diluted EPS of $0.64. Adjusted EBITDA rose 12% to $73 million.
Free cash flow was impressive at $93.1 million, achieving a conversion rate of 300% of net income. The company maintains strong liquidity with total cash of $189 million and a net debt to Adjusted EBITDA ratio of 0.2X.
Despite challenges from COVID-19 and weather events, key sectors showed resilience and order activity remained positive.
Arcosa has announced the acquisition of Strata Materials for approximately $87 million. Strata, a prominent recycled aggregates provider in the Dallas-Fort Worth area, reported an Adjusted EBITDA of $10.2 million in the last 12 months, with a valuation multiple of ~8.5x. This acquisition is expected to enhance Arcosa's offerings by combining recycled and natural aggregates, driving growth and improving margins, given Strata's similar margins to Arcosa's existing operations. The purchase was funded with cash on hand, maintaining low leverage at ~0.6x debt/Adjusted EBITDA.
Arcosa, Inc. (NYSE: ACA) will release its third-quarter earnings for the period ending September 30, 2020, after market close on October 28, 2020. The company will hold a conference call on October 29, 2020, at 8:30 AM ET to discuss the financial results. Investors can access the call via a webcast or through dial-in options provided in the release. A replay of the call will be available until November 12, 2020. Arcosa operates in construction, energy, and transportation markets, reporting results across three business segments.